PM says Budget 'ambitious', 'futuristic'; focus on growth while lowering fiscal deficit, controlling inflation

Prime Minister Narendra Modi on Sunday described the Budget 2026-27 as ambitious and futuristic, stressing that it will further strengthen Indias global role as its 140 crore citizens are not satisfied with being the fastest growing economy and the nation is determined to soon become the worlds third largest economy.

Prime Minister Narendra Modi on Sunday described the Budget 2026-27 as ''ambitious'' and ''futuristic'', stressing that it will further strengthen India's global role as its 140 crore citizens are not satisfied with being the fastest growing economy and the nation is determined to soon become the world's third largest economy. In his televised post-budget comments on the Budget, presented by Union Finance Minister Nirmala Sitharaman in the Lok Sabha, Modi said this was a unique budget, which focused on reducing fiscal deficit and controlling inflation while simultaneously ensuring high capital expenditure and high growth. ''This Budget strengthens India's global role anew. India's 140 crore citizens are not satisfied with being the fastest growing economy, and the nation is determined to soon become the world's third largest economy,'' he said. The prime minister emphasised that this is the collective resolve of millions of Indians and India's role as a trusted democratic partner and trusted quality supplier is continuously expanding. He underlined that the recent major trade deals India has undertaken are aimed at ensuring maximum benefits for the country's youth and for small and medium enterprises, with significant steps taken in this Budget to advance that direction. ''Today's Budget is historic and reflects the empowered spirit of the nation's women. This budget is ambitious and addresses the aspirations of the nation,'' he said. Modi congratulated the finance minister and her team for presenting a ''futuristic'' and ''sensitive'' budget that is dedicated to the welfare of villages, the poor and farmers. He highlighted that Sitharaman, as a woman finance minister, has set a new record by presenting the country's budget for the ninth consecutive time. The prime minister said the Budget is a highway of immense opportunities, one that fulfils the dreams of the present and strengthens the foundation of India's bright future. He emphasised that the Budget will serve as the basis for India's high flight towards becoming a developed nation by 2047. Modi noted that the Reform Express on which India is riding will gain new energy and new momentum through this budget. He underlined that the path-breaking reforms provide the aspiring, courageous and talented youth of India with an open sky to soar and the Budget realises the vision of trust-based governance and a human-centric economic framework. He emphasised the Budget presents an ambitious roadmap to accelerate Make in India and the Atmanirbhar Bharat campaign with the unprecedented support given to sunrise sectors with the BioPharma Shakti Mission, Semiconductor Mission 2.0, Electronic Component Manufacturing Scheme, creation of a Rare Earth Corridor, strengthening critical minerals sector, new schemes in the textile sector, promotion of high-tech tool manufacturing and preparation of champion MSMEs. It is futuristic and addresses both present and future needs of the nation, the prime minister said. He said the support extended to MSMEs, including small and cottage industries, will empower them to grow from local to global. ''The Budget takes several major steps to strengthen infrastructure, including a dedicated freight corridor, expansion of waterways across the country, a high-speed rail corridor, special focus on the development of tier-2 and tier-3 cities, and promotion of municipal bonds to provide stronger economic foundations for cities,'' he said. Modi stressed that all these measures will accelerate the journey towards a developed India. ''The greatest capital of any nation is its citizens, and in recent years the government has made unprecedented investments to enhance their capabilities,'' he said, adding that a continuous effort has been to strengthen skill, scale and sustainability. Reiterating Sitharaman's statement that this is a youth power budget, Modi emphasised that the provisions made in the budget will prepare leaders, innovators and creators across different sectors. He noted that through the establishment of medical hubs, allied health professionals, promotion of the 'Orange Economy', including audio-visuals and encouragement of gaming, tourism and the Khelo India Mission, new opportunities will open for the youth. He also said that a major tax concession has been announced to make India the world's data centre hub. He said this budget will give a significant boost to employment generation. The prime minister expressed happiness that concrete steps have been taken to promote tourism, particularly in the Northeast, and that the foundation of balanced development has been strengthened by empowering different states. Highlighting that more than 10 crore women are associated with self-help groups, he said the budget prioritises building a modern ecosystem for women-led and women-run self-help groups, with the aim that every household welcomes prosperity. He noted that the campaign to build new hostels for girl students in every district will make education more accessible. Modi stressed that agriculture, dairy and fisheries have always been given the highest priority by the government. He pointed out that in this Budget, important measures have been taken for farmers engaged in the production of coconut, cashew, cocoa, and sandalwood. The Bharat Vistaar AI tool will greatly help farmers by providing information in their own language, he said, adding that promoting entrepreneurship in fisheries and animal husbandry will create more employment and self-employment opportunities in villages.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)