Addressing the media on the Union Budget 2026–27, the Minister of State for the Ministry of Corporate Affairs and the Ministry of Road, Transport and Highways, Shri Harsh Malhotra, described the budget as a historic milestone and a clear roadmap for Viksit Bharat 2047. Presented for the first time from the newly inaugurated Kartavya Bhawan, the budget, he said, reflects the Government’s commitment to building a resilient, inclusive, and future-ready economy for 140 crore Indians.
A Budget Rooted in Vision, Stability and Reform
Shri Malhotra stated that the budget is firmly anchored in Prime Minister Shri Narendra Modi’s vision for a developed India. He lauded Finance Minister Smt. Nirmala Sitharaman for presenting her ninth consecutive Union Budget, calling it a symbol of continuity, stability, and bold reforms. According to him, the budget balances growth with welfare, ambition with prudence, and innovation with inclusivity, making it truly a “Budget for 140 crore Indians.”
He highlighted that the budget is guided by three core Kartavya (duties):
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Enhancing productivity with competitiveness,
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Accelerating skill development, and
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Ensuring equitable participation across communities and sectors.
Strong Macroeconomic Foundations and Global Confidence
The Minister underscored that over the past decade, the government has tripled the overall budget size while maintaining a lower fiscal deficit, demonstrating prudent financial management alongside ambitious development goals. He pointed to a sixfold increase in capital expenditure and a threefold rise in budget size since 2014, driving infrastructure growth, job creation, and long-term productivity.
Shri Malhotra noted that India’s exports have reached USD 825 billion, defence production is rising under Aatmanirbhar Bharat, Gross NPAs have declined significantly, and FDI inflows continue to grow, reflecting strong global confidence in India’s economic fundamentals. He also highlighted reforms such as single-window approvals across 32 central departments and most states, over 300 mobile manufacturing units, and the success of Make in India, positioning India as a global manufacturing hub.
Education, Skilling and Women-Led Development
Education and skilling, he said, remain central pillars of the budget. The government has announced the development of five university townships along industrial corridors and the creation of ecosystems integrating academia with industry.
Highlighting the focus on women-led development, Shri Malhotra said the government has presented its ninth consecutive gender-focused budget, including provisions for hostels in every district to improve access to education and employment opportunities for women.
AI, Healthcare and Social Security: Building Future Readiness
The Minister stressed that Artificial Intelligence will be a key focus area to equip India’s youth with future-ready skills. Short-term modular courses will support professionals, small traders, and underemployed individuals, keeping the workforce globally competitive.
Healthcare has received a record allocation of around ₹1 lakh crore, with ₹10,000 crore earmarked for the Biopharma Shakti initiative to boost innovation and self-reliance in medical technologies. The plan to train 1,00,000 allied health professionals, set up three AIIMS-Ayurveda institutions and five integrated medical hubs, along with the continued expansion of Ayushman Bharat and PM Vaya Vandana Yojana, reflects a comprehensive and inclusive healthcare approach.
Infrastructure Push: Roads, Rail and National Security
Calling infrastructure the backbone of the budget, Shri Malhotra highlighted the allocation of approximately ₹3 lakh crore for road infrastructure and the plan for seven high-speed rail corridors. Projects such as the Delhi–Varanasi rail corridor and the redevelopment of 1,000 stations under the Amrit Bharat initiative are set to transform rail travel.
Defence has received a robust ₹7.5 lakh crore allocation, reinforcing India’s commitment to national security while strengthening indigenous manufacturing.
A landmark project, the Delhi–Mumbai Expressway, scheduled for completion by 2027, will reduce travel time from 33 hours to just 12 hours, dramatically improving logistics efficiency and economic integration, the Minister said.
Delhi Decongestion Plan and Urban Infrastructure
Shri Malhotra highlighted a ₹24,000 crore Delhi Decongestion Plan aimed at easing traffic, reducing pollution, and improving urban mobility. Key road stretches—Ashram to Badarpur, Punjabi Bagh to Tikri Border, and Mehrauli to Gurugram—now under NHAI, covering 33 km, will significantly improve traffic flow between Delhi and neighbouring regions.
He also outlined major connectivity projects, including:
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Extension of the Delhi–Amritsar–Katra Expressway (NE-5) to UER-II,
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Extension of UER-II (NH-344M) to the Delhi–Dehradun Expressway, and
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Construction of a road tunnel from Dwarka Expressway to Nelson Mandela Marg, Vasant Kunj, to ease traffic movement.
Environmental Sustainability and Civic Infrastructure: Viksit Bharat 2047
Environmental sustainability, especially for Delhi, is another priority. Shri Malhotra reiterated the government’s commitment to eliminating the Bhalswa, Ghazipur, and Okhla landfills, with waste being processed under the Waste to Wealth vision. Inert waste has already been used in projects like UER-II and Dwarka Expressway.
He also mentioned a ₹380 crore water treatment plant in Chandrawal to strengthen the “Nal Se Jal” mission. Additional allocations include ₹2,700 crore for railway infrastructure in Delhi, ₹1,000 crore for pollution control, ₹15 crore for natural calamities, and ₹2 crore to support victims of the Anti-Sikh riots, reflecting a compassionate and inclusive governance approach.
Conclusion
Shri Harsh Malhotra said the government’s focus on affordable education, affordable healthcare, and affordable ease of living reaffirms its commitment to improving the quality of life for every citizen. He described the Union Budget 2026–27 as not merely a financial statement, but an architectural blueprint for a developed India.
Under the leadership of Prime Minister Shri Narendra Modi and the reform-oriented guidance of Finance Minister Smt. Nirmala Sitharaman, he said, India is moving ahead at an unprecedented pace—and the dream of Viksit Bharat 2047 is no longer distant, but decisively within reach.
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Source: PIB
