Sun Feb 01 09:42:43 UTC 2026: ### Modi Hails Union Budget 2026 as Foundation for ‘Viksit Bharat’ Amidst Mixed Reactions

The Story:
Prime Minister Narendra Modi has lauded the Union Budget 2026-27, presented by Finance Minister Nirmala Sitharaman on February 1, 2026, as a “highway of opportunities” and a crucial step towards “Viksit Bharat” by 2047. This budget marks Sitharaman’s ninth consecutive presentation and the first to be delivered on a Sunday in independent India. However, the budget has drawn varied reactions, with some state leaders and opposition figures expressing concerns about its lack of benefits for specific regions and its broader vision for addressing economic and social challenges.

Key Points:

  • Economic Growth: The Economic Survey 2025-26 projects a medium-term domestic growth outlook of 7%, up from the previous estimate of 6.5%. For the current financial year 2025-26, the survey estimates growth at 7.4%, and for 2026-27, it forecasts a range of 6.8-7.2%.
  • State Reactions: While Maharashtra Deputy Chief Minister Eknath Shinde praised the budget’s focus on infrastructure and urban development, Karnataka Deputy Chief Minister D K Shivakumar criticized it for offering no benefits to his state and demanded the restoration of the MGNREGA act.
  • Opposition Criticism: Trinamool Congress leader Abhishek Banerjee accused the BJP of a “step-motherly attitude” towards West Bengal, while Congress President Mallikarjun Kharge argued the budget lacks vision and fails to address India’s economic and social problems.
  • Government Support: Union Ministers Amit Shah, Nitin Gadkari, and Jyotiraditya Scindia, among others, have hailed the budget as transformative, progressive, and crucial for India’s journey towards becoming a developed nation by 2047.
  • Key Initiatives: The budget includes provisions for infrastructure, micro and medium industries, urban development, semiconductor manufacturing (₹40,000 crore), biopharma (₹10,000 crore), and high-speed rail corridors like Mumbai-Pune and Pune-Hyderabad.

Key Takeaways:

  • The Union Budget 2026-27 is positioned as a foundational element for achieving “Viksit Bharat” by 2047, with a strong emphasis on infrastructure and economic growth.
  • Significant regional disparities and political polarization are evident in the reactions to the budget, highlighting the challenges of balancing national development goals with specific state needs and political agendas.
  • The budget aims to foster self-reliance and global competitiveness, with investments in manufacturing, technology, and infrastructure, but faces skepticism from opposition parties regarding its vision and effectiveness.

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