Finance Minister Nirmala Sitharaman on Sunday announced a capital expenditure of Rs 12.2 lakh crore in the Budget for 2026-27 to boost big-ticket infrastructure projects for growth and jobs in the economy.
Presenting the national budget, the Finance Minister said that an Infrastructure Risk Development Fund would be set up to accelerate the development of big projects.
To push economic growth, the budget proposes to increase infrastructure building , including highways, ports, railways and power projects, scale up manufacturing in 7 strategic sectors and create champion MSMEs.
The FM claimed that the government had maintained fiscal prudence and monetary stability whilst maintaining a strong thrust on public investments while also stating that India had to integrate with global markets, exporting more and attracting foreign investment.
The Finance Minister said that the government has undertaken comprehensive reforms towards creating employment, boosting productivity and accelerating growth. "Over 350 reforms have been rolled out, and the 'Reforms Express' is well on its way, and India will continue to take confident steps towards Viksit Bharat, balancing ambition with inclusion," she said.
Sithamaraman said that the Union Budget prepared in Kartivya Bhavan is based on three "karatavyas" (duties). "We are inspired by three kartavyas: accelerate and sustain economic growth, fulfil aspirations of people and build capacity, and the third is to ensure that every family, community, and region has access to resources."
The first kartavya is to scale up manufacturing in seven strategic and frontier sectors, she said.
The FM indicated that the government would continue structural reform of the economy, reducing regulations.
"Cutting-edge technologies, including AI, can serve as growth multipliers," she added.