Union Budget lays roadmap for Viksit Bharat: PM

New Delhi, Feb 27: Prime Minister Narendra Modi Friday addressed the first post-budget webinar of the 2026-27 series, focusing on the theme “Technology Reforms and Finance for Viksit Bharat.” Emphasizing that the national budget is a policy roadmap rather than a short-term trading document, Modi called for a collective effort to realize the goal of a developed India by 2047.
The Prime Minister emphasized that the budget’s effectiveness should be assessed through concrete parameters, such as expanding infrastructure, simplifying the flow of credit, improving the ease of doing business, and increasing transparency in governance, while also making the lives of citizens easier and generating new opportunities for them. ” Budget decisions related to these aspects provide permanent strength to the economy”, the Prime Minister highlighted.
The Prime Minister noted that, most importantly, no budget should be viewed as a standalone event because nation-building is a continuous process. “Every budget is a stage toward moving to a larger goal,and that big goal is the construction of a Developed India (Viksit Bharat) by the year 2047. Therefore, every reform, every allocation, and every change should be seen as an integral part of this long journey,” Modi emphasised.
The Prime Minister remarked that these annual post-budget webinars are of great importance. He expressed his expectation that these sessions should not be limited merely to the exchange of ideas but should instead become an effective brainstorming exercise. “ Suggestions based on the experience and practical challenges of stakeholders will certainly help in further refining economic strategies and finding solutions,” Modi noted. Furthermore, he emphasized that when industry, academia, analysts, and policymakers think together, the implementation of schemes improves and results become more accurate, which is the core spirit behind this series of webinars.
The Prime Minister observed that a quarter of the 21st century has passed, marking a significant period in the lives of those in service. He stated that the country is now in a crucial phase of its development journey, with the economy moving forward at a rapid pace. Highlighting India’s extraordinary resilience over the last decades, Modi noted that this progress has not happened by chance but is the result of conviction-driven reforms. “ The government has simplified processes, improved the Ease of Doing Business, expanded technology-led governance, and strengthened institutions, asserting that even today, the country continues to ride the Reform Express”, Modi underscored.
The Prime Minister noted that while policy intent is crucial, the current phase of India’s development requires a relentless focus on delivery excellence. “The evaluation of reforms should not be based on their announcement, but on their impact at the ground level, and he urged the integration of AI, Blockchain, and Data Analytics to drive accountability and speed and transparency in public service delivery”, Modi added. Also, he emphasised that impact must be monitored through grievance redressal systems.
Highlighting the government’s commitment to building long-term productive assets, the Prime Minister pointed out the significant rise in Public Capital Expenditure. “Over the last 11 years, the provision has grown from approximately Rs 2 lakh crore to over Rs 12 lakh crore in the current budget. This investment serves as a clear signal for the private sector to increase participation in infrastructure and innovation”, Modi emphasised.
The Prime Minister called upon the industry and financial institutions to come forward with new energy, emphasizing the need for greater participation in infrastructure, more innovation in financing models, and stronger collaboration in emerging sectors. He further suggested that the project sanction methodology and appraisal quality must be strengthened, keeping cost-benefit analysis and life-cycle costing paramount to eliminate waste and delays.
Addressing the financial framework, the Prime Minister stated that the government is further simplifying the foreign investment framework to make the system more predictable and investor-friendly. He highlighted steps being taken to make bond markets more active and simplify the buying and selling of bonds, viewing these reforms as essential enablers of long-term growth.”There is need to ensure predictability, deepen liquidity, and introduce new instruments to manage risk effectively and attract sustained foreign capital”, Modi remarked. Modi also urged stakeholders to learn from global best practices to help strengthen the bond market and foreign investment framework.
To attract sustained foreign capital and improve long-term financing, the Prime Minister announced further simplifications to the foreign investment framework. The strategy includes developing more active bond markets, simplifying bond trading processes, and strengthening project sanction methodologies through rigorous cost-benefit analysis and life-cycle costing. “ These steps aim to make the system more predictable and investor-friendly while managing risk effectively”, Modi remarked.
The Prime Minister emphasized that while any policy can create a framework, its ultimate success depends on the active participation of all stakeholders. He called upon the industry to step forward with fresh investment and innovation, while urging financial institutions and analysts to assist in preparing practical solutions and strengthening market confidence. “When the government, industry, and knowledge partners move forward in unison, reforms are successfully converted into results. Budget announcements are converted into tangible results on the ground only through this collective synergy”, Modi asserted.
The Prime Minister suggested the development of a “Reform Partnership Charter”, a shared resolve between the government, industry, financial institutions, and academia. He clarified that the purpose of the post-budget webinars is no longer to discuss the budget’s contents, but to ensure its rapid and simple implementation on the ground.
The Prime Minister urged all stakeholders, including financial institutions, markets, industry, professionals, and innovators, to take advantage of the new opportunities provided by this budget. He encouraged them to engage deeply with these prospects, noting that their active participation would improve the implementation of schemes, while their feedback and cooperation would yield better results. He called upon everyone to reform and grow together to create a future where the dream of a Developed India is realized as soon as possible.
Expressing full confidence in the day’s deliberations, the Prime Minister emphasized that the focus must remain on simplifying processes. He clarified that while consultations are held before the budget to refine it, the post-budget webinars are specifically designed to land the budget on the ground as quickly as possible through the simplest routes. Prime Minister Narendra Modi, concluded by stating that if stakeholders deliberate with the collective benefit in mind, these webinars will truly open the doors to a vibrant economy.