Presenting the Union Budget 2026–27 in Parliament, the Finance Minister outlined three kartavyas to accelerate reforms towards Viksit Bharat—sustaining economic growth, building people’s capacity, and ensuring inclusive development in line with Sabka Sath, Sabka Vikas.
The first kartavya focuses on accelerating and sustaining economic growth by improving productivity and competitiveness, strengthening resilience to global volatility, and supporting manufacturing, infrastructure and energy security. The second aims to fulfil aspirations by building human capacity and positioning people as partners in growth. The third seeks to ensure access to resources, amenities and opportunities across families, communities, regions and sectors.
The Finance Minister said the approach requires a supportive ecosystem, including continued structural reforms, a resilient financial sector to mobilise savings and allocate capital efficiently, and the use of technologies such as artificial intelligence to improve governance.
She said the Budget, prepared in Kartavya Bhawan, draws from ideas shared during the Viksit Bharat Young Leaders Dialogue 2026 and reflects a focus on youth participation. Over the past 12 years, India’s economy has seen stability, fiscal discipline, sustained growth and moderate inflation, supported by structural reforms, public investment and monetary stability.
With self-reliance at the core, the government has expanded domestic manufacturing, strengthened energy security, reduced critical import dependence and pursued reforms to support employment, agricultural productivity, household purchasing power and universal services. These measures have helped maintain growth of around 7 per cent and contributed to poverty reduction.
Against a backdrop of global trade disruptions, supply chain challenges and rising resource demands, the Finance Minister said India would continue to integrate with global markets, increase exports and attract long-term investment while balancing ambition with inclusion.
She said the government is focused on ensuring that growth benefits farmers, scheduled castes, scheduled tribes, nomadic communities, youth, the poor and women. Following the Prime Minister’s Independence Day address in 2025, more than 350 reforms have been rolled out, including GST simplification, labour code notifications and rationalisation of quality control orders, alongside efforts to reduce compliance through coordination with states.
Also Read: Union Budget 2026: Key Governance Updates and Policy Highlights
Under the first kartavya, proposed interventions include scaling up manufacturing in seven strategic sectors, rejuvenating legacy industries, creating champion MSMEs, expanding infrastructure, ensuring long-term energy security and developing city economic regions.
The second kartavya prioritises capacity building, with the Finance Minister noting that around 25 crore people have exited multidimensional poverty over the past decade. A renewed focus on the services sector will include setting up a high-powered ‘Education to Employment and Enterprise’ standing committee to identify measures for growth, jobs and exports, assess the impact of emerging technologies on skills, and position India to achieve a 10 per cent global share in services by 2047.
The third kartavya will involve targeted measures to raise farm incomes through productivity and entrepreneurship, empower persons with disabilities through livelihoods and assistive devices, expand access to mental health and trauma care, and accelerate development and employment in the Purvodaya states and the North-East.
Be a part of Elets Collaborative Initiatives. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook , connect with us on LinkedIn and follow us on Twitter, Instagram.
"Exciting news! Elets technomedia is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest insights!" Click here!
