Budget lays strong foundation for Viksit Bharat 2047: PM Modi
Prime Minister Narendra Modi called the Union Budget 2026 "historic," saying it lays a strong foundation for the vision of Viksit Bharat 2047 and will help India become the world's third-largest economy "as soon as possible."
Presented by Finance Minister Nirmala Sitharaman, the budget lays out a forward-looking plan focused on boosting manufacturing, reviving old industries, supporting small businesses (MSMEs), building better infrastructure, and developing city regions—all while aiming to empower women.
Focus on job creation, self-reliance in tech, health
This year's budget ramps up government investment by 9% to ₹12.2 lakh crore and launches big projects like the ₹10,000 crore Bio-Pharma Shakti program and a ₹40,000 crore boost for electronics component manufacturing—both designed to create jobs and make India more self-reliant in tech and health.
There are also new rare earth corridors planned across four states and extra support for MSMEs through new funding measures, including a ₹10,000 crore SME Growth Fund and a ₹2,000 crore top-up to the Self Reliant India Fund.
With private investment slowing down, these public moves are meant to keep growth strong and open up new opportunities for young people entering the workforce.