New Delhi: Prime Minister Narendra Modi on Saturday said Union Budget 2026 marks a decisive step in India’s reform journey and will serve as the foundation for the country’s march towards becoming a developed nation by 2047.
In a video message after the budget presentation, Modi described the exercise as ambitious and aspirational, saying it gives fresh momentum to the “reform express” while balancing fiscal discipline, inflation control and higher capital expenditure to support growth.
The Prime Minister said India is no longer content with being the fastest-growing major economy and is now determined to become the world’s third-largest economy. He added that the budget strengthens India’s role as a trusted global partner and supplier, with recent trade agreements and policy measures aimed at maximising gains for youth and small and medium enterprises.
Highlighting the manufacturing push, Modi said the budget presents an ambitious roadmap to accelerate Make in India and the Aatmanirbhar Bharat initiative.
He pointed to enhanced support for sunrise and strategic sectors such as the BioPharma Shakti Mission, Semiconductor Mission 2.0, the Electronics Component Manufacturing Scheme, the creation of a Rare Earth Corridor and measures to strengthen the critical minerals ecosystem, alongside new schemes for textiles and high-tech manufacturing.
MSMEs, including small and cottage industries, have received strong backing in the budget, which, according to the Prime Minister, will help them scale from local to global and play a bigger role in job creation and exports.
Infrastructure also features prominently, with steps outlined for dedicated freight corridors, expansion of waterways, a high-speed rail corridor, development of tier-2 and tier-3 cities and the promotion of municipal bonds to strengthen urban finances. Modi said these measures would accelerate the journey towards a developed India by improving connectivity and economic efficiency.
Calling it a “youth power” budget, the Prime Minister said the provisions will help nurture leaders, innovators and creators across sectors, including through initiatives in medical hubs, allied health services, the orange economy, gaming, tourism and sports.
He also flagged a major tax concession aimed at positioning India as a global data centre hub, which he said would boost investment and employment.
The budget, he added, places special emphasis on women-led development by prioritising a modern ecosystem of self-help groups and expanding hostels for girl students, with the aim of ensuring that prosperity reaches every household.
Agriculture, dairy and fisheries continue to receive high priority, with targeted measures for crops such as coconut, cashew, cocoa and sandalwood, and the rollout of technology tools to support farmers.
Overall, Modi said, the budget is ambitious and addresses the aspirations of 140 crore Indians, reinforcing the reform trajectory while laying a clear roadmap for growth, jobs and long-term economic resilience.