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Prakash Javadekar has termed the Union Budget for 2026-27 progressive and growth-oriented, stating that it lays a firm foundation for the vision of Viksit Bharat. He said the Budget focuses on reforms, fiscal discipline, and manufacturing-led growth while supporting agriculture, MSMEs, and infrastructure. Higher tax devolution to states, including a record allocation for Maharashtra, and a continued emphasis on Aatmanirbhar Bharat were highlighted as key outcomes aimed at strengthening long-term economic growth.
Former Union minister and senior BJP leader Prakash Javadekar described the Union Budget as progressive and growth-oriented, stating that it creates a strong base for Prime Minister Narendra Modi's vision of a Viksit Bharat amid global economic uncertainty. He said the Budget for 2026-27 focuses on development while addressing the expectations of citizens across income groups. Advertisement
Addressing reporters, Javadekar said the Budget opens fresh opportunities for the economy and reflects a people-centric approach. He noted that the government has positioned the Budget around reforms and growth, highlighting over 350 reforms undertaken in the past few months. These include deregulation measures, reduced compliance burdens, and a continued push towards trust-based governance.
According to him, the proposed Jan Vishwas Act 2.0 is aimed at accelerating regulatory reforms further. He added that the Budget places strong emphasis on increasing agricultural productivity, generating employment, and improving purchasing power. The core philosophy of Aatmanirbhar Bharat continues to guide policy decisions, which he said has found acceptance across different sections of society.
Javadekar pointed out that states are receiving higher tax devolution after the implementation of GST. Maharashtra, in particular, is set to receive INR 98,000 crore as tax devolution along with an additional INR 12,355 crore through central schemes, taking the total allocation to INR 1,10,661 crore, the highest ever for the state. He also noted that tax devolution to states has risen from 32 percent during the UPA period to 41 percent under the current government.
On fiscal management, he said the Budget maintains discipline, with the fiscal deficit targeted at 4.3 percent of GDP in 2026-27. Capital expenditure has been set at INR 12.2 lakh crore, with a focus on roads, railways, airports, waterways, and infrastructure development in Tier-2 and Tier-3 cities.
Manufacturing-led growth remains a priority through initiatives such as Semiconductor Mission 2.0, the INR 10,000 crore BioPharma Shakti programme, higher allocations for electronics, and stronger support for MSMEs through dedicated funds and easier access to credit. He added that the Budget also addresses agriculture, women empowerment, critical minerals, data centres, tourism in the North East, and India's long-term objective of becoming the world's third-largest economy.
Source PTI
FAQ
Q1. How has Prakash Javadekar described the Union Budget for 2026-27?
Prakash Javadekar has described the Union Budget as progressive and growth-oriented, stating that it lays a strong foundation for Prime Minister Narendra Modi's vision of a Viksit Bharat. He said the Budget balances development priorities with fiscal discipline and responds to citizen expectations amid global economic uncertainty.
Q2. What reforms does Javadekar say are reflected in the Budget?
Javadekar highlighted that the Budget is anchored in reforms, citing more than 350 reform measures undertaken recently. These include deregulation, reduction in compliance requirements, and a shift towards trust-based governance. He said the proposed Jan Vishwas Act 2.0 will further accelerate regulatory reforms across sectors.
Q3. How does the Budget support agriculture and employment?
According to Javadekar, the Budget places strong emphasis on improving agricultural productivity, supporting farmers incomes, and generating employment. Measures aimed at strengthening purchasing power, boosting rural demand, and supporting MSMEs are expected to contribute to broader economic growth and job creation.
Q4. What did he say about tax devolution to states, especially Maharashtra?
Javadekar noted that tax devolution to states has increased from 32 per cent during the UPA period to 41 per cent under the current government. Maharashtra is set to receive INR 98,000 crore as tax devolution, along with INR 12,355 crore through central schemes, taking the total allocation to INR 1,10,661 crore, the highest ever for the state.
Q5. What are the key fiscal and infrastructure highlights of the Budget?
He said the Budget maintains fiscal discipline, with the fiscal deficit targeted at 4.3 per cent of GDP in 2026-27. Capital expenditure has been pegged at INR 12.2 lakh crore, with a strong focus on infrastructure development across roads, railways, airports, waterways, and projects in Tier-2 and Tier-3 cities.
Q6. How does the Budget aim to drive manufacturing-led growth?
Manufacturing-led growth remains a core priority through initiatives such as Semiconductor Mission 2.0, the INR 10,000 crore BioPharma Shakti programme, higher allocations for electronics, and enhanced support for MSMEs. Javadekar said these measures, aligned with Aatmanirbhar Bharat, will strengthen India's long-term growth and global competitiveness.
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