2024 Finance Ministry Says Union Budget Reflects Ongoing Economic Strategy

2024 Finance Ministry officials have said that the Union Budget presented this year should be viewed as a continuation of earlier budgets rather than a standalone exercise. According to senior officials, the current budget builds on the policy framework established since the government assumed office in 2024, with a clear focus on stability, long-term growth and employment generation.

Speaking at a virtual discussion organised by the School of Management at Sri Chandrasekharendra Saraswathi Viswa Mahavidyalaya in Kanchipuram, K Balasubramanian, Joint Secretary in the Ministry of Finance, said the budget reflects a consistent economic approach followed over the past three years. He noted that the government has consciously avoided short-term populist measures and instead focused on strengthening the fundamentals of the economy.

He explained that the budget must be understood as part of a broader economic plan aimed at maintaining momentum rather than delivering immediate headline announcements.

2024 Finance Ministry Emphasises Stability and Fiscal Discipline

According to Balasubramanian, three core pillars link the budgets presented since 2024. These include maintaining macroeconomic stability, adhering to fiscal discipline, and increasing capital expenditure on infrastructure development.

He said that macroeconomic stability has been prioritised to ensure predictable economic conditions for businesses and investors. Fiscal discipline, he added, has helped the government manage public finances responsibly while still supporting growth-oriented spending.

A major emphasis has been placed on capital expenditure, particularly in infrastructure sectors that can generate long-term economic benefits. Investments in transport, logistics and urban development are expected to improve productivity and create employment opportunities across regions.

Balasubramanian highlighted the government’s plan to develop city economic regions and expand high-speed rail networks as key components of this strategy. He said such initiatives have the potential to transform economic activity in a manner similar to the Golden Quadrilateral highway project announced in 1999, which significantly improved connectivity and commerce across the country.

By strengthening physical infrastructure, the government aims to support both industrial growth and regional development, he noted.

2024 Finance Ministry Focuses on Technology and Jobs

Another key theme highlighted during the discussion was the growing emphasis on technology and artificial intelligence. Balasubramanian said the budget places importance on integrating advanced technologies into governance, industry and education to improve efficiency and competitiveness.

He pointed out that technology-driven growth is essential for creating quality employment in the long run. Instead of offering short-term incentives or large-scale giveaways, the budget seeks to build an environment where businesses can grow sustainably and generate jobs organically.

The focus, he said, has been on “getting the basics right” by strengthening systems, improving infrastructure and supporting innovation. This approach, according to the Finance Ministry, is expected to lead to steady economic expansion rather than temporary boosts.

The discussion also touched upon how infrastructure investment and technology adoption can complement each other. Improved connectivity can enable better access to markets, while digital tools can enhance productivity and service delivery.

The event titled “Focus: Budget 2026 – What Changed? What Matters?” featured participation from professionals across different fields, including legal, investment and consulting sectors. Speakers shared views on how consistent policy direction can help build confidence among investors and support long-term planning.

Participants noted that continuity in economic policy allows businesses to make informed decisions and reduces uncertainty. They also discussed how disciplined budgeting can help the government balance growth objectives with fiscal responsibility.

Observers said the budget reflects a shift away from headline-driven announcements towards a more structured and measured approach to economic management. Also Read: Tribal Dept to Team Up With Global Chess Body to Reshape Learning in Schools in 2026

Conclusion

The remarks from the 2024 Finance Ministry underline the government’s intent to maintain continuity in economic planning rather than pursue short-term measures. With sustained focus on stability, infrastructure and technology, the Union Budget is positioned as part of a longer journey aimed at steady growth and employment creation.