Budget 2026-2027 driven by 3 kartavyas: Nirmala Sitharaman
What's the story
Finance Minister Nirmala Sitharaman has unveiled the Union Budget 2026, with a vision centered on the marginalized and underprivileged sections of society. The budget, she said, is guided by a three-pronged 'Kartavya' framework. The first Kartavya focuses on accelerating economic growth, the second on people-centric development and capacity building, while the third ensures inclusive access to opportunities for all. Reforms are being implemented to enhance employment and productivity levels in India.
Growth strategy
Economic growth and external resilience
Sitharaman, in her budget speech, emphasized the need to accelerate and sustain economic growth by boosting productivity and competitiveness. She also stressed on building resilience against volatile global dynamics. The Finance Minister said improving efficiency and enhancing the economy's capacity to withstand external shocks will be a key priority of this budget.
Human capital
People-centric development and capacity building
The second 'Kartavya' in Sitharaman's budget vision is focused on people-centric development. She said, "Our second Kartavya is to fulfill the aspirations of our people and build their capacity." The Finance Minister stressed on skill-building, employment generation, and human capital development as key components of this strategy. This approach seeks to make citizens strong partners in India's journey toward prosperity.
Inclusivity focus
Inclusive access to opportunities for all
The third 'Kartavya' in Sitharaman's budget vision is aligned with the government's motto of 'Sabka Saath, Sabka Vikaas.' It aims to ensure that every family, community, region and sector has access to resources, amenities and opportunities for meaningful participation. This approach highlights the government's commitment toward making growth more inclusive by providing equal access to all sections of society.
Governance reforms
Tech-led governance and structural reforms
Sitharaman stressed on the need for a supportive ecosystem to implement this threefold approach. She called for sustained momentum in structural reforms that are "continuous, adaptive and forward-looking." She also emphasized the role of a strong and resilient financial sector in mobilizing savings, allocating capital efficiently and managing risks. She advocated tech-led governance with cutting-edge technologies like AI acting as multipliers for better service delivery.
Reform initiatives
Over 350 reforms implemented since Independence Day last year
Sitharaman highlighted the government's "Reform Express," which has undertaken comprehensive reforms to create jobs, enhance productivity and accelerate growth. Since the Prime Minister's announcement on Independence Day 2025, over 350 reforms have been implemented. These include GST simplification, notification of labor codes and rationalization of mandatory quality control orders. High-level committees have been formed as the Center collaborates with states to ease compliance burdens and promote deregulation.