NEW DELHI: As the Union Budget 2026–27 approaches, industry experts and economists believe it holds the key to building a “Viksit Bharat” powerhouse. India’s vision of becoming a developed nation by 2047 hinges on how effectively the upcoming budget aligns immediate fiscal needs with long-term strategic goals. By boosting infrastructure and attracting private investment, the budget is expected to accelerate the nation’s journey toward high-income status.
Beyond traditional capital expenditure, there is a strong call for the government to prioritise skills and innovation. Harnessing Artificial Intelligence (AI) and emerging technologies will be vital to lifting overall productivity and GDP. Targeted tax reforms for MSMEs and fiscal incentives for the manufacturing sector are also seen as essential drivers for job creation.
Key Engines of Growth:
Agriculture: Contributing nearly 18% to India’s GVA, the sector is eyeing a major push to double exports and enhance climate resilience.
Youth & Middle Class: These segments drive over 60% of India’s GDP through consumption and labour. According to Bank of Baroda Economist Aditi Gupta, empowering them with better jobs and skills remains central to the growth story.
Technological Shift: Strategic focus on AI and digital infrastructure to ensure India remains globally competitive.
Budget 2026 is widely anticipated to be a blueprint that translates the high-level “Viksit Bharat” roadmap into tangible gains for every Indian citizen. (TET)
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