Budget 2026 Speech: What It Means for Taxpayers, Businesses & Economy

Hon’ble Speaker,
On the sacred occasion of Magha Purnima and the birth
anniversary of Guru Ravidas, I present the Budget for the year 2026-2027.
Introduction

1. Since we assumed office 12 years ago, India’s economic trajectory
   has been marked by stability, fiscal discipline, sustained growth and
   moderate inflation. This is the result of conscious choices we have made,
   even in times of heightened uncertainty and disruption. Our
   Government, led by Hon’ble Prime Minister Modi, has decisively and
   consistently chosen action over ambivalence, reform over rhetoric and
   people over populism.
2. We have pursued far reaching structural reforms,
   fiscal prudence and monetary stability whilst
   maintaining a strong thrust on public investment.
   Keeping atmanirbharta as a lodestar, we have built domestic
   manufacturing capacity, energy security and reduced critical import
   dependencies. Simultaneously, we have ensured that citizens benefit
   from every action of the Government, undertaking reforms to support employment generation, agricultural productivity, household purchasing power and universal services to people. These measures have delivered a high growth rate of around 7% and helped us make substantial strides in poverty reduction and improvement in the lives of our people.
3. Today, we face an external environment in which trade and
   multilateralism are imperilled and access to resources and supply chains
   are disrupted. New technologies are transforming production systems
   while sharply increasing demands on water, energy and critical minerals.
4. India will continue to take confident steps towards Viksit Bharat,
   balancing ambition with inclusion. As a growing economy with expanding
   trade and capital needs, India must also remain deeply integrated with
   global markets, exporting more and attracting stable long-term
   investment.

Part A

1. As I begin Part A, I want to express my gratitude to the people for
   standing firmly with us as we forge our way together towards becoming
   one of the largest economies of the world.
2. Our aim is to transform aspiration into achievement and potential
   into performance, as we ensure that the dividends of growth reach every
   farmer, the scheduled caste, the scheduled tribes, the nomads, the youth,
   the poor and the women.
3. In the Viksit Bharat Young Leaders Dialogue 2026, several
   innovative ideas were shared with our Prime Minister, which have
   inspired many of the proposals, making this a unique Yuva Shakti-driven
   Budget.
4. Our Government’s ‘Sankalp’ is to focus on our poor,
   underprivileged and the disadvantaged. To deliver on this Sankalp, and
   given that this is the first Budget prepared in Kartavya Bhawan, we are
   inspired by 3 kartavya:
5. Our first kartavya is to accelerate and sustain economic growth,
   by enhancing productivity and competitiveness, and building resilience to
   volatile global dynamics.

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