Union Budget 2026-27 boosts growth, CapEx and reforms, says PM Modi

Prime Minister Narendra Modi on Sunday (February 1) described the Union Budget 2026-27 as a “strong foundation” for the country’s Viksit Bharat 2047 mission, stating that it would contribute further momentum and speed to India’s ‘reform express’.

"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,” stated PM Modi.

‘Unprecedented investments for citizens’

Elaborating further, the Prime Minister stated that citizens are the greatest assets of the country, adding that the government has made major investments to bolster their capabilities.

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"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 added as quoted by ANI.

‘Restoring balance while sustaining growth’

PM Modi further stated that the government’s fiscal and economic approach was aimed at restoring balance while sustaining growth.

Highlighting the thrust of the Budget, he said it was designed to address multiple priorities at once. “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,” the Prime Minister said.

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He further stated that the Budget also reinforces India’s position on the global stage. “This Budget further strengthens India's global role. 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,” he said, describing this ambition as a collective national resolve.

Budget and India-EU FTA

Referring to India’s external engagements, Modi said the country’s standing as a trusted democratic partner and reliable supplier was expanding steadily.

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“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 said sectors such as agriculture, dairy and fisheries continue to receive priority. He noted that the Budget includes targeted measures for farmers engaged in the cultivation of coconuts, cocoa, cashews and sandalwood.

‘Measures to boost tourism’

Turning to tourism, Modi said special attention had been given to the Northeast. “In this budget, significant measures have been implemented to boost tourism, especially in the Northeast region,” he said, adding that strengthening states would support balanced development.

On infrastructure, he said initiatives such as high-speed rail corridors and a focus on tier-2 and tier-3 cities would help drive growth. “To strengthen infrastructure, several major initiatives have been included in the budget,” he said, linking them to the broader vision of a Viksit Bharat.