PM Modi Applauds Union Budget 2026 as a Strategic Roadmap for India’s Next Growth Phase

Prime Minister Narendra Modi has praised Union Budget 2026, describing it as a visionary and reform-oriented roadmap that strengthens India’s economic foundations while accelerating the country’s journey toward becoming a developed nation. Congratulating Finance Minister Nirmala Sitharaman, the Prime Minister said the budget reflects the aspirations of 140 crore Indians and demonstrates the government’s commitment to long-term growth, stability, and national transformation.

According to the Prime Minister, the budget reinforces India’s confidence on the global stage and supports the country’s ambition to emerge as a leading economic power. He noted that the financial roadmap is aligned with India’s reform momentum and is designed to sustain high growth while ensuring that development remains broad-based, inclusive, and future-ready.

A file photo of Prime Minister Narendra Modi (PTI) | News18

Infrastructure and Capital Expenditure to Power Economic Momentum

A defining feature of Union Budget 2026 is the strong emphasis on capital expenditure, with a substantial increase in public investment to strengthen infrastructure across the country. The government has continued its focus on transport, logistics, railways, waterways, and urban development, signalling that infrastructure-led growth remains central to India’s economic strategy.

Prime Minister Modi highlighted that sustained investment in infrastructure will not only improve connectivity and productivity but also generate large-scale employment. Analysts and global observers have noted that while fiscal consolidation remains on track, the government has chosen to prioritise growth-supportive spending to maintain economic momentum and strengthen India’s competitiveness.

Manufacturing and Strategic Sectors at the Core of Growth Strategy

The budget places renewed focus on strengthening India’s manufacturing base and reducing dependence on critical imports. Strategic sectors such as semiconductors, rare earth minerals, electronics, advanced manufacturing, and biopharma have been prioritised to build resilient domestic value chains and support India’s long-term industrial ambitions.

Prime Minister Modi underscored that these measures will enhance India’s position as a trusted global manufacturing and supply-chain partner. By deepening domestic capabilities in high-value sectors, the government aims to attract long-term investment while creating quality employment and boosting exports.

MSMEs and Labour-Intensive Industries Get Renewed Support

Micro, small, and medium enterprises remain a central pillar of the budget’s growth and employment strategy. Union Budget 2026 includes enhanced measures to help MSMEs scale, improve access to opportunities, and integrate more effectively into global markets.

The Prime Minister emphasised that MSMEs, cottage industries, and labour-intensive sectors will play a crucial role in job creation and regional development. Industry groups have welcomed this focus, noting that a strong MSME ecosystem is essential for sustaining entrepreneurship, boosting exports, and ensuring inclusive economic growth.

Youth, Skills and the Economy of the Future

Union Budget 2026 has been positioned by the government as a future-oriented and youth-focused budget. Prime Minister Modi highlighted that the financial roadmap is designed to empower young Indians by supporting skill development, innovation, and emerging industries.

The budget also strengthens India’s digital and technology ecosystem, with initiatives to support data centres, cloud infrastructure, and digital services. These measures are aimed at positioning India as a global technology and innovation hub while attracting long-term global capital and enhancing digital resilience.

Agriculture, Rural Economy and Balanced Regional Development

Alongside its industrial and infrastructure priorities, the budget continues to focus on strengthening the rural economy and supporting farmers. Measures related to agriculture, dairy, fisheries, and allied sectors are intended to improve incomes, enhance productivity, and promote technology-driven solutions for farmers.

The government has also highlighted its commitment to balanced regional development, with increased focus on tier-2 and tier-3 cities and improved connectivity across regions. This approach aims to ensure that economic growth is more evenly distributed and that new opportunities reach smaller towns and rural areas.

Fiscal Prudence and Strengthening Global Confidence

Union Budget 2026 maintains a path of gradual fiscal consolidation, with the government signalling its commitment to macroeconomic stability and investor confidence. While growth remains the primary objective, the budget balances expansionary priorities with fiscal discipline.

International observers and rating agencies have noted that this approach supports long-term stability while preserving space for productive investment. Prime Minister Modi stated that the budget sends a strong signal to global markets about India’s credibility, reform commitment, and long-term growth potential.

Aligning with the Vision of Viksit Bharat 2047

At the heart of Union Budget 2026 is the government’s long-term vision of building a Viksit Bharat, or Developed India, by 2047. The Prime Minister described the budget as more than a financial statement, calling it a strategic blueprint for India’s next phase of transformation.

By combining infrastructure-led growth, manufacturing expansion, MSME empowerment, youth-focused policies, and fiscal responsibility, the budget aims to create a resilient, innovation-driven economy capable of sustaining high growth over the coming decades.

The MGMM Outlook

Union Budget 2026 reflects a clear intent to combine growth, stability, and long-term national transformation. The strong push for capital expenditure and infrastructure development signals a continued commitment to building the physical backbone required for sustained economic momentum. Investments in transport, logistics, urban development, and connectivity are positioned not only to improve productivity but also to generate large-scale employment and strengthen India’s competitiveness. The budget also reinforces confidence in India’s reform trajectory, presenting a financial roadmap that supports high growth while maintaining fiscal discipline, thereby strengthening India’s credibility among global investors and institutions.

The renewed focus on manufacturing, strategic sectors, and MSMEs highlights a structural shift toward building resilient domestic value chains and reducing critical import dependence. Prioritising areas such as semiconductors, electronics, biopharma, and advanced manufacturing supports India’s ambition to emerge as a trusted global supply-chain partner. At the same time, targeted support for MSMEs, skill development, youth, and the rural economy underlines a balanced growth approach that links industrial expansion with employment generation and regional development. Together, these measures position the budget as a forward-looking framework aimed at strengthening India’s economic foundations while accelerating progress toward long-term national development goals.

(Sources: News18, Times of India, News On Air)