'High flight toward Viksit Bharat': PM Modi hails Union Budget 2026 as 'historic'

NEW DELHI: Prime Minister Narendra Modi on Sunday hailed the Union Budget 2026 as “historic”, saying it charts a clear roadmap towards achieving the goal of a Viksit Bharat by 2047 and gives fresh momentum to India’s reform journey. He also highlighted the recently signed "mother of all deals" between India and EU in his address.

Praising finance minister Nirmala Sitharaman for presenting the Budget, PM Modi said it symbolised women’s empowerment, noting that Sitharaman has created a record by presenting the Union Budget for the ninth consecutive time.




“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.

Describing the Budget as a key step towards long-term national goals, Modi added, “This budget is a strong foundation for our high flight toward a developed India by 2047. Friends, the reform express on which India is riding today will gain new energy and new momentum from this budget.”

He said India’s ambitions go beyond being the world’s fastest-growing 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,” Modi said.

Referring to global engagement, the Prime Minister said India has signed the “mother of all deals” with the European Union, aimed at maximising benefits for the country’s youth and small and medium industries. He said the Budget presents an ambitious roadmap to accelerate the Make in India and Atmanirbhar Bharat initiatives.

Highlighting key proposals, PM Modi said 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 the development of champion MSMEs are future-oriented steps that address both present and long-term needs.

“I believe the support our budget provides to MSMEs and small industries will give them the strength to grow from local to global,” he said, adding that the government has taken major steps to strengthen infrastructure. These include expanding dedicated freight corridors, developing high-speed rail, focusing on Tier-2 and Tier-3 cities, and promoting municipal bonds to give cities a stronger economic base.

Earlier in the day, finance minister Sitharaman presented the Union Budget for the 2026–27 financial year in the Lok Sabha, marking her ninth consecutive Budget presentation.