Budget 2026 charts clear roadmap for Viksit Bharat, says PM Modi

Prime Minister Narendra Modi

Prime Minister Narendra Modi on Sunday lauded the Union Budget presented by finance minister Nirmala Sitharaman, saying it strengthens the foundation of India’s bright future.

“This Budget takes major steps to strengthen infrastructure: dedicated freight corridors, 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, among others. All these steps will further accelerate the pace of India's journey towards becoming a developed nation,” the Prime Minister said after Sitharaman presented her 9th Union Budget.

Sitharaman on Sunday proposed seven high-speed rail corridors, new dedicated freight corridors, and the operationalisation of 20 national waterways over the next five years as part of the Union Budget.

"In order to promote environmentally sustainable passenger systems, we will develop seven high-speed rail corridors between cities as growth connectors, namely Mumbai to Pune, Pune to Hyderabad, Hyderabad to Bengaluru, Hyderabad to Chennai, and Chennai to Bengaluru. Delhi to Varanasi, Varanasi to Siliguri," the FM said.

The finance minister also said the government remains committed to continuing reforms and ensuring steady momentum in economic policymaking.

"The reform express is running on its way and will maintain its momentum to help us fulfill our Kartavya," Sitharaman said.

Reacting to the Budget, the Prime Minister said: “This is one such unique budget which has focus on bringing down fiscal deficit, on bringing inflation under control and with this, Budget also has the combination of high CapEx and high growth.”

“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,” he added.

Sitharaman, during her speech, mentioned that the target for capex will be raised to Rs 12.2 lakh crore for FY27 from Rs 11.2 lakh crore earmarked for the current fiscal year. “Public capex has increased manifold from Rs 2 lakh crore in FY2014-15 an allocation of Rs 11.2 lakh crore in BE 2025-26. In FY2026-27, I propose to increase it to Rs 12.2 lakh crore to continue the momentum,” she said.