NEW DELHI – Prime Minister Narendra Modi has hailed the Union Budget 2026-27 as a definitive blueprint for a "Viksit Bharat" (Developed India), asserting that his government has consciously rejected the lure of short-term populism in favor of high-impact capital expenditure.
In an exclusive interview with PTI following the budget unveiling, the Prime Minister described the fiscal roadmap as the "next level" of India's development journey, designed to fuel what he calls the "Reform Express."
Productive Spending vs. Populist Gains
A central theme of the Prime Minister’s remarks was the strategic shift toward productive assets. The FY27 Budget has scaled up capital expenditure (capex) to a record ₹12.2 lakh crore—a fivefold increase since 2013.
"Productive spending has been a hallmark of our government," PM Modi stated. "This budget reflects a conscious choice to invest in assets that create productivity and jobs rather than short-term populism." He emphasized that while populist measures might offer immediate political gains, the focus on infrastructure ensures long-term economic stability and improves the overall quality of life.
The Infrastructure Revolution
PM Modi highlighted the scale of the "expansive infrastructure-building effort" currently underway in India, noting several key milestones:
Railways: An allocation of nearly ₹3 lakh crore, focusing on safety, high-speed rail corridors, and dedicated freight corridors.
Connectivity: The number of airports in the country has doubled, and cities with metro services have quadrupled over the last decade.
National Highways: Funding for highway projects has seen a nearly 500% increase compared to a decade ago.
The Prime Minister underscored that "broken and outdated infrastructure" has no place in a nation aspiring for global leadership, noting that the current investments are being made with the next 25 years in mind.
Trust-Based Governance
Beyond the numbers, the Prime Minister pointed to "trust-based governance" as a transformative feature of the budget. By reducing paperwork, decriminalizing minor technical offences, and slashing compliance requirements, the state is positioning itself as an "enabler" rather than a hurdle for citizens and businesses.
"We envisage the state as an enabler, and we trust the citizens," he said, adding that these administrative reforms would have a deeper impact on the average Indian's life than typical budgetary allocations.
A Vision for 2047
Framing the budget in a historical context, PM Modi drew a parallel between the current decade and the 1920s. Just as the decisions made a century ago laid the groundwork for independence in 1947, he argued that the "Reform Express" of today is laying the foundation for a developed nation by the centenary of its independence.
"This is the first budget in the second quarter of the 21st century," PM Modi noted. "It consolidates the gains made since 2014 and builds upon them to impart momentum for the next quarter-century."
