‘Reform express gets new energy’: Here's what PM Modi said on Budget 2026-27

Prime Minister Narendra Modi on Sunday described the Union Budget 2026-27 as “historic”, saying it reflects strong empowerment of women and lays a solid foundation for India’s journey towards becoming a developed nation by 2047.

In remarks after the presentation of the Budget, Modi said the ninth consecutive Budget presented by Finance Minister Nirmala Sitharaman marked a new record and symbolised the growing role of women in nation-building.

“Today’s budget is historic. It reflects the strong empowerment of the nation’s women power. As a woman Finance Minister, Nirmala ji has created a new record by presenting the country’s budget for the ninth consecutive time. This budget is a highway of immense opportunities. It turns today’s aspirations into reality and strengthens the foundation of India’s bright future,” the Prime Minister said.

Modi said the Budget would give fresh momentum to reforms and accelerate India’s growth trajectory.

“This budget is a strong foundation for our high flight toward a developed India by 2047. The reform express on which India is riding today will gain new energy and new momentum from this budget,” he said.

Stressing India’s global economic ambitions, Modi said the country was aiming higher than just being the fastest-growing major economy.

“The 140 crore citizens of India are not satisfied with being the fastest-growing economy. We want to become the world’s third-largest economy as soon as possible,” he said.

Referring to the free trade agreement with the European Union, the Prime Minister said India has the “mother of all deals” to ensure maximum benefits for youth and micro, small and medium enterprises (MSMEs). He said the Budget presented an ambitious roadmap to further strengthen the Make in India and Atmanirbhar Bharat initiatives.

He highlighted measures such as the Bio-Pharma Shakti Mission, Semiconductor Mission 2.0, the Electronics Component Manufacturing Scheme, the creation of a Rare Earth Corridor, emphasis on critical minerals, new schemes for the textile sector, promotion of high-tech toy manufacturing and development of champion MSMEs as future-oriented steps.

“I believe the support our budget provides to MSMEs and small industries will give them the strength to grow from local to global,” Modi said.

He also underlined the major steps taken to strengthen infrastructure, including expansion of dedicated freight corridors, development of high-speed rail, focus on Tier-2 and Tier-3 cities, and promotion of municipal bonds to give cities a stronger economic base.

The Prime Minister said the Budget would give a major boost to employment generation. He also said tourism, especially in the Northeast, had been strengthened to promote balanced regional development.

“I am proud that women, especially through self-help groups, are being supported to build a modern ecosystem. Efforts like new hostels for students will make education more accessible. Agriculture, dairying and fisheries remain a top priority, with support for farmers and promotion of rural entrepreneurship creating more local employment,” Modi said.