Prime Minister Narendra Modi praised the Union Budget 2026-27 as a “strong foundation” for India’s progress towards Viksit Bharat 2047, asserting that it would inject fresh energy and accelerate the ongoing reform agenda. He made these remarks following Finance Minister Nirmala Sitharaman’s presentation of her ninth consecutive Budget in the Lok Sabha.
Addressing the nation, PM Modi stated, “This Budget is a strong foundation for the flight to the vision of Viksit Bharat 2047. This Budget will provide fresh energy and speed to the ‘reform express’ on which India is riding today. The path-breaking reforms provide an open sky to the courageous, talented youth of India. Our effort has been to continuously strengthen skill, scale, and sustainability.”
He emphasised the importance of the citizens as the country’s greatest asset, noting that the government has made unprecedented investments in enhancing their capabilities in recent years. “A country’s greatest asset is its citizens. In recent years, our government has made unprecedented investments in enhancing the capabilities of our citizens,” he said.
On the fiscal and economic approach, the Prime Minister remarked, “This is one such unique budget which has a focus on bringing down fiscal deficit, on bringing inflation under control and with this, the budget also has the combination of high CapEx and high growth.”
PM Modi added that the Budget strengthens India’s global role, with aspirations to become the third-largest economy as soon as possible. “The 140 crore citizens of India are satisfied with not just being the fastest-growing economy, but we also want to be the third-largest global economy at the earliest. This is the resolve of crores of citizens of the country. As a trusted, democratic partner of the world and as a trusted quality supplier, India’s role is expanding continuously. The maximum benefit of trade deals recently signed by India – Mother of All Deals, should go to the youth of India, to the small and medium scale industries of India. In this direction, major steps have been taken in the Budget,” he said.
The Prime Minister highlighted the government’s ongoing prioritisation of agriculture, the dairy sector, and fisheries, noting that the Budget includes several important measures for farmers cultivating coconuts, cocoa, cashews, and sandalwood. “This budget also includes several important measures for farmers involved in the cultivation of coconuts, cocoa, cashews, and sandalwood,” he added.
He also pointed to significant initiatives to boost tourism, especially in the Northeast, underlining the Budget’s role in fostering balanced and equitable development across states. “In this budget, significant measures have been implemented to boost tourism, especially in the Northeast region. By strengthening various states, the budget lays the foundation for balanced and equitable development.”
PM Modi further discussed infrastructure investments and development plans for tier 2 and tier 3 cities. “To strengthen infrastructure, several major initiatives have been included in the budget. These include the development of dedicated freight corridors, expansion of national waterways, construction of high-speed rail corridors, and a special focus on the growth of tier 2 and tier 3 cities. Additionally, the promotion of municipal bonds aims to provide a strong economic foundation for urban areas. Together, these measures will accelerate the progress toward a Viksit Bharat,” he said.
In contrast, Congress President Mallikarjun Kharge criticised the Budget, saying it lacked ideas and failed to address economic challenges. “Modi Govt has run out of ideas. Budget 2026 does not provide a single solution to India’s many economic, social, and political challenges. ‘Mission Mode’ is now ‘Challenge Route.’ ‘Reform Express’ rarely stops at any ‘Reform’ Junction. Net result: NO policy vision, NO political will. Our Annadata Farmers still await meaningful welfare support or an income security plan. Inequality has surpassed the levels seen under the British Raj, but the Budget does not even mention it or provide any support to SC, ST, OBC, EWS, and Minority communities. The Finance Commission’s recommendations will have to be studied more, but they do not appear to provide any relief to State Governments which are under severe financial stress. Federalism has become a casualty,” he asserted.