New Delhi, Feb 1 (IANS) Prime Minister Narendra Modi on Sunday hailed the Union Budget 2026-27, calling it a “highway of immense opportunities” and said that the “Reform Express” on which India is riding, “will gain new energy and momentum through this budget”.
Finance Minister Nirmala Sitharaman presented her ninth consecutive Union Budget on Sunday, motivated by three ‘kartavyas’ or duties aimed at boosting and maintaining economic growth by improving competitiveness, meeting aspirations, and ensuring that every family, community, and region has access to resources and opportunities for engagement.
In his remarks, the Prime Minister praised the Finance Minister and said, “Today’s budget is historic. It is a strong reflection of India’s ‘Nari Shakti’. Nirmala Sitharaman has set a record of presenting the budget for the ninth consecutive time as a woman Finance Minister.”
He said that the budget is a “highway of immense opportunities”, which will “turn the dreams of the present into reality” and lay a “strong foundation for India’s bright future” and for the nation’s “high flight” towards achieving the resolution of a Viksit Bharat by 2047.
PM Modi said that the ‘Reform Express’ on which India is riding, “will gain new energy and momentum through this budget”. “The path-breaking reforms open up the sky for our aspiring and talented youth to soar. This budget realises the vision of trust-based governance and a human-centric economic structure,” he added.
Calling the budget “unique”, the Prime Minister said, “It focuses on reducing the fiscal deficit and controlling inflation, while also emphasising high CAPEX and high growth. This budget strengthens India’s global role. India’s 140 crore citizens are not content with just being a fast-growing economy; we aim to become the world’s third-largest economy soon.”
He further mentioned that India’s role as a trusted democratic partner and quality supplier is rising, asserting that the benefits of recent major trade deals, including the “Mother of all deals” (a term used for the India-European Union Free Trade Agreement), will primarily reach the country’s youth.
PM Modi said that this budget has presented a “bold vision to accelerate the ‘Make in India’ and ‘Aatmanirbhar Bharat’ missions”.
“The support given to new and sunrise sectors is unprecedented. Initiatives like the Bio-Pharma Shakti Mission, Semiconductor Mission 2.0, Electronic Components Manufacturing Scheme, development of Rare Earth Corridors, focus on critical minerals, new schemes for the textile sector, and promoting high-tech and tech-driven manufacturing will provide new strength for India to grow globally,” he added.
The budget, according to the Prime Minister, “takes major steps to strengthen infrastructure”, which, he said, is dedicated freight corridors, expansion of voter base nationwide, high-speed rail corridors, special focus on developing tier-2 and tier-3 cities, and promotion of municipal bonds to provide cities with a strong economic foundation.
“All these measures will accelerate the growth trajectory of a Viksit Bharat. The greatest asset of any country is its citizens, and strengthening cities ensures they thrive and contribute to national progress,” he added.
As the Finance Minister mentioned in Parliament, PM Modi said, “This is a Youth Power Budget. It reflects the thinking, dreams, determination, and energy of young India. The provisions in the budget will prepare leaders, innovators, and creators across sectors.”
“From building medical hubs and developing allied health professionals, promoting the orange economy and AVGC sectors, boosting tourism, to opening new opportunities through the Khelo India mission, the budget unlocks pathways for youth to excel and lead,” he added.
The Prime Minister asserted that a “major tax exemption” has been announced to make India a global data centre hub.
“I especially congratulate India’s youth, as this will significantly boost employment generation. I am pleased that the budget also takes concrete steps to promote tourism, especially in the northeast. By strengthening different states, the budget lays a strong foundation for balanced and inclusive development across the country,” he added.
Over ten crore women in India are linked with self-help groups, which have been highly successful, PM Modi mentioned.
“The budget prioritises building a modern ecosystem for women-led self-help groups. Efforts are also underway to construct new hostels for girls in every district, making education more accessible,” he said.
“The government has always prioritised agriculture and fisheries, and this budget introduces key measures to support farmers involved in coconut, cashew, cocoa, and sandalwood production,” he added.
PM Modi also mentioned the Bharat Vistar AI tool, and said that it will help farmers receive information in their own language, which will “greatly aid them”. He said that promoting entrepreneurship in fisheries and animal husbandry will create more local employment and self-employment opportunities in villages.
“This budget is ambitious and addresses the aspirations of the nation. I once again congratulate Finance Minister Nirmala Sitharaman and her team for this futuristic, inclusive budget that prioritises the welfare of villages, the poor, and farmers,” he added.
–IANS
sd/dpb
