VIKSIT BHARAT BUDGET 2026 - 27

 

Modi's vision of Bharath had taken a shift from the mood of Vikas-sheel (Developing) to the specific goal of achieving Viksit Bharat by 2047 at the time of our completing 100 years of Independence  with $31 Trillion economy in his speech delivered on the occasion of Independence Day from the Red Fort  on the 15th August 2023. 

For that goal to be achieved, Modi and His able Finance Minister Nirmala Seetharaman had already presented three budgets - Interim Budget on 1st February 2024 followed by regular Budget on July 2024 and then again on 1st February 2025 another budget. 

And the present budget of 1st February 2026 (ninth consecutive budgets of Nirmala Seetharaman - Historic Achievement by itself) - fourth in line was to  reinforce the Mission of Viksit Bharat @ 2047  - Holistic and Healthy Approach for development of Industries, Increased Momentum for Self Reliance and Focused Investments for Local for Global and Favourable Environments for Direct Foreign Investments with emphasis on "Make In India" concept. 

Targets of Roadmap for $30 Trillion Economy by 2047 was laid as under by Modi Government: 

1. 2026 -  $5 Trillion

2. 2030 - ~$7 Trillion

3. 2047 - $ 30 Trillion 

At present India is ranked as the 5th largest economy and the goal is set to the 3rd economy by 2027. 

At present, the economic growth is around $4 trillion and we have only 21 years to achieve the remaining $26 Trillion. Modi Government is quite confident of achieving the goal to make Bharath as Number One World Economy. 

To make that to happen, Mere Finance Alone will not suffice to bring Viksit Bharat @ 2024 and Indians should put their Kartavya (Duty)  before Adhikar ( Rights). 

 “Duty Before Rights — Nation Before Self” and “Inclusive Growth, Shared Prosperity” had gain momentum amongst majority of Indians particularly Youths which are good signs for Bharath Economic Growth. 

Economic Growth, Human Growth and All Inclusive growth - Sabka Saath, Sabka Vikas, Sabka Vishwas, Sabka Prayas (which in simple English translated to: Together with all, Development for all, Trust of all, and Effort of all) call for  a United India where everyone Benefits, everyone Trusts each other, and everyone Works hard to make the country great. For that, people should be provided with Skilled Education, Caring Governance, Enough Employment Opportunities, Affordable Health Care Facilities, Peaceful Atmosphere, Strong Defence System, A Class Infra Structures in all areas of roads, rails, air, water etc. 

In that background, let us see how far the present budget proposals had aimed at the Himalayan Height Goal of Viksit Bharat@ 2047. 

First let us have a bird's eye view of the overall position of the budget: 

1. Total Expenditure: ₹53.47 Lakh Crore

(Capex : ₹12.22 lakh crore (23% of Total Expenditure)- Spending on long-term assets like highways, railways, and solar plants. It saw a healthy increase of over 11% compared to the previous year.   Remaining unproductive Revenue Expenditure:  ₹41.25 Lakh Crore - 77% of Total Expenditure). 

2. Total Revenue:  ₹36.52 Lakh Crore 

3. Fiscal Deficit  ₹16.96 lakh crore (4.3% of GDP). 

Budget is being called the first budget of the "Kartavya Kaal" (Era of Duty). By pushing Capital Expenditure to a record high of ₹12.22 lakh crore, the government is betting that building world-class infrastructure today is the "duty" that will enable a $30 trillion economy by 2047. 

More Details of the budget provisions are listed hereunder: 

The Budget was said to stand on three pillars - viz three kartavyas (three duties or three  Core Focus Areas) which are:

o       Accelerate & sustain economic growth

o       Build capabilities of people and youth

o       Ensure last-mile inclusion & Sabka Vikas

High-Speed Rail: Seven new high-speed rail corridors were announced, including Mumbai–Pune, Hyderabad–Bengaluru, and Delhi–Varanasi.

Logistics: A dedicated freight corridor connecting Dankuni (East) to Surat (West) was proposed to lower logistics costs.

Biopharma Shakti: A new initiative with an outlay of ₹10,000 crore to establish India as a global manufacturing hub for biologics and biosimilars.

Textile 5F Vision: An integrated program to strengthen the "Farm to Foreign" value chain, with an allocation of ₹10,000 crore.

Champion MSMEs: A ₹10,000 crore SME Growth Fund was introduced to provide liquidity and credit support for small businesses.

Rare Earth Corridors: Dedicated corridors will be established in Odisha, Kerala, Andhra Pradesh, and Tamil Nadu to secure critical minerals.

Semiconductor Mission 2.0

Customs duty relief on solar & EV inputs

Tax holiday for data centres to boost IT business 

Comprehensive push to AYUSH ecosystem. To establish 3 new All India Institutes of Ayurveda to strengthen education and clinical excellence in traditional medicine.

New rural jobs scheme gets over ₹95000 crore.

Education: Five university townships near major industrial and logistics corridors with  provisions to set up a girls' hostels in each districts to encourage more girls in STEM EDUCATION -  Leading from education to employment and enterprise.

20 new national waterways starting with NW5 in Odisha and launch of a coastal cargo promotion scheme aim to double the modal share of waterways and coastal shipping to 12% By 2047. The move is to shift  bulk cargo from road and rail to waterways which will be cost effective and help to expedite  the linking of rivers  projects.

SHEMARTS -Community Owned to help to market products manufactured by women entrepreneurs. 

Congress had said: MGNREGS was scrapped by Modi Government which is far from truth. Actually 21% hike in rural  development - a historic allocation in the budget was made and Old Scheme of MGNREGS is going to be replaced with a new VB G RAM G - Viksit Bharat Guarantee for Rozgar and Ajeevika Mission (Gramin). Till such time old scheme of MGNREGS for which this budget had made provisions to the extent of ₹30,000 crore will be functional.  This is exclusive of state contributions. If state contributions added, total outlay for rural schemes will be   ₹ 1,51,000 crore. 

Further the new scheme will cover creation of assets by skilled marginalised groups thereby  to shift  from “welfare as charity” to “welfare as empowerment”—not merely providing work, but creating dignity, skills, and lasting livelihoods in rural India. 

So far no experts had expressed major defects in this Budget proposals and even the Hindu News Paper had said: The budget is Credible, Creditable.  The Hindu Newspaper had further added: Seven well thought out areas for growth and developments and overall, Budget 2026 may disappoint those looking for massive tax relief or subsidies, but is nevertheless a credible and creditable effect. 

Yes, the Budget is Capex to achieve Viksit Bharath @ 2047 and subsequent 21 budgets till 2047 will focus on Development, Development and Development. 

Last but not the least, Nirmala Seetharaman's Budget 2026 presented in Parliament was the first Budget prepared in the newly inaugurated Kartavya Bhawan. 

Let Kartavya (Duty) precedes Adhikar (Rights). 

JAI HO NIRMALA SEETHARAMAN FOR HER UNIQUE 9TH CONTINUOUS SUCCESSFUL BUDGETS.  

E-TOUCH PRESENTS HER A BOUQUET FOR THE VIKSIT BUDGET 2026.