Union Budget Blueprint: Paving the Path for Sustained Economic Growth

Member of Niti Aayog, Arvind Virmani, highlights the Union Budget's focus on sustained economic growth through skilling and services. The budget, presented by Finance Minister Nirmala Sitharaman, prioritizes infrastructure development, fiscal consolidation, and provides long-term incentives for sectors like agriculture, tourism, and global data centers.

The Union Budget sets the stage for a 'sustained, fast and inclusive growth' with a continuity in economic strategies, according to Arvind Virmani, a Niti Aayog Member. Stressing the significance of skilling services for job generation, he views the budget as a transformation tool.

Unveiling a Rs 53.5 lakh crore budget for 2026-27, Finance Minister Nirmala Sitharaman announced measures aimed at boosting manufacturing, offering tax incentives for global data centers, and support for agriculture and tourism. Despite upcoming state elections, the budget emphasizes fiscal prudence and infrastructure investment.

Virmani further highlighted the potential of Free Trade Agreements, stating they will create notable opportunities. He emphasized a new services division within Niti Aayog and stressed the importance of skilling across various levels to fill the existing gap in both the domestic and global markets.

(With inputs from agencies.)