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India Budget 2026-27: Modi Lauds Sitharaman's Presentation

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  Published in Business and Finance on Thursday, February 12th 2026 at 20:27 GMT by The New Indian Express
      Locales: Delhi, INDIA

New Delhi, February 13th, 2026 - Prime Minister Narendra Modi yesterday lauded Finance Minister Nirmala Sitharaman's presentation of the Union Budget for 2026-27 in the Lok Sabha, describing it as a "comprehensive picture" outlining a clear path toward economic transformation and India's ascent to a developed nation. The Prime Minister took to social media platform X, stating the Finance Minister's speech was "excellent" and presented "a clear roadmap for a brighter future," emphasizing a budget designed to "empower citizens and strengthen our economy."

The 2026-27 budget, unveiled on Wednesday, is not simply a collection of numbers; it's a statement of intent. It signals a continued commitment from the Modi administration to long-term, sustainable growth built on the pillars of infrastructure development, robust job creation, and comprehensive social welfare programs. While the specifics of the budget are still being dissected by economists and analysts, the broad strokes reveal a clear strategy focused on boosting economic output and substantially improving the quality of life for all Indian citizens.

Infrastructure as the Engine of Growth

Central to the budget's vision is a significant increase in investment in infrastructure. This isn't merely about building roads and bridges, though those are crucial. The budget allocates substantial funds to modernizing rail networks, expanding port capacity, developing inland waterways, and creating a robust digital infrastructure. The government recognizes that efficient infrastructure is the backbone of a thriving economy, lowering logistics costs, improving connectivity, and attracting both domestic and foreign investment. A particular emphasis appears to be placed on 'PM Gati Shakti,' the national master plan for multi-modal connectivity, which aims to seamlessly integrate different modes of transport. Experts suggest the increased funding will accelerate the implementation of key projects under this ambitious program.

Job Creation: Addressing Demographic Dividends

India's demographic dividend - a large, young working-age population - presents both an opportunity and a challenge. The budget addresses this by prioritizing initiatives designed to stimulate job creation. Alongside infrastructure projects, which inherently generate employment, the budget includes measures to support the manufacturing sector, particularly through Production Linked Incentive (PLI) schemes. These schemes provide financial incentives to companies for increasing domestic production, thereby reducing reliance on imports and creating skilled jobs. Furthermore, the budget reportedly allocates funds for skill development programs designed to equip the workforce with the skills needed for the jobs of the future, focusing on areas like artificial intelligence, renewable energy, and advanced manufacturing.

Social Welfare: Inclusive Growth at its Core

The government's commitment to 'inclusive growth' is evident in the continued emphasis on social welfare programs. The budget includes provisions to strengthen existing schemes such as the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), providing a safety net for vulnerable populations. Significant allocations are also directed towards healthcare and education, aimed at improving access to quality services and empowering citizens to participate fully in the economy. Reports suggest an expansion of the Ayushman Bharat scheme, providing health insurance coverage to a wider segment of the population. There's also increased focus on affordable housing initiatives, aiming to address the housing shortage and provide shelter for millions.

Towards a Developed Economy: A Long-Term Vision

Prime Minister Modi's assertion that this budget will "propel India's journey towards becoming a developed economy" is ambitious, but underpinned by a consistent policy focus over the past decade. The government aims to achieve upper-middle-income status by 2030 and a fully developed economy by 2047, coinciding with India's 100th year of independence. This requires sustained economic growth of at least 8-9% per year. The 2026-27 budget, with its focus on infrastructure, job creation, and social welfare, is a critical step in achieving that goal. The budget also reportedly contains measures to promote private sector investment, streamline regulations, and improve the ease of doing business in India.

Challenges Ahead

While the budget paints a hopeful picture, challenges remain. Global economic uncertainty, fluctuating commodity prices, and the impact of climate change all pose risks to India's economic outlook. The government will need to navigate these challenges carefully to ensure that the budget's goals are met. Fiscal prudence and efficient implementation will be crucial. Furthermore, concerns surrounding rural distress and income inequality require continued attention and targeted interventions. Analysts will be closely watching the government's ability to effectively utilize the allocated funds and deliver tangible results on the ground.