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Budget 2026-27: Piyush Goyal Unveils Blueprint for Viksit Bharat 2047

Union Minister Piyush Goyal has championed the Union Budget 2026-27 as a foundational plan for achieving a developed 'Viksit Bharat' by 2047. The budget heavily emphasizes bolstering the manufacturing sector with initiatives like the India Semiconductor Mission 2.0 and a massive capital expenditure outlay. It introduces significant schemes for SMEs, biopharma, and infrastructure, including high-speed rail corridors and local shipping container production. Goyal dismissed opposition criticism, asserting the budget's focus on development and maintaining India's status as the world's fastest-growing economy.

Key Points: Budget 2026-27: Viksit Bharat 2047 & Manufacturing Push

  • Record ₹12.2L cr capex
  • India Semiconductor Mission 2.0 launched
  • ₹10,000 cr SME Growth Fund
  • 7 new high-speed rail corridors
  • Focus on youth reskilling & manufacturing
2 min read

Piyush Goyal says Union Budget foundation for 'Viksit Bharat' 2047 with push for manufacturing

Union Minister Piyush Goyal hails the future-ready Budget 2026-27, focusing on manufacturing, semiconductors, and youth reskilling for a developed India by 2047.

"This is a budget that lays the foundation for 'Viksit Bharat' 2047. - Piyush Goyal"

New Delhi, February 1

Union Commerce and Industry Minister Piyush Goyal on Sunday described the Union Budget 2026-27 as 'future-ready' for a developed India by 2047. The budget places heavy emphasis on the manufacturing sector and youth reskilling to strengthen India's position as the world's fastest-growing economy.

Union Minister Piyush Goyal said,"This is a budget that lays the foundation for 'Viksit Bharat' 2047. This is Budget is for future-ready India. It inspires people to work with dedication. The focus has been on the manufacturing sector in this Budget. Many schemes have been announced to push forward our fastest-growing economy in the world...Inland waterway, high speed rail corridors, development of tier 2 and tier 3 cities, reskilling of youth were focused upon on in this Budget."

While dismissing the Opposition's criticism of the budget, he added, "They (the Opposition) have a broken record which plays after every Budget. Do they not want development of MSMEs?"

On X, Piyush Goyal posted Major announcements benefiting industry and trade in the #ViksitBharatBudget. The budget features a record ₹12.2 lakh crore capital expenditure allocation and a heavy emphasis on making the country's manufacturing sector future-ready to maintain its status as the world's fastest-growing economy.

The Government on Sunday launched the India Semiconductor Mission 2.0 in the Union Budget 2026-27. The initiative aims to strengthen India's Intellectual Property (IPR) and domestic supply chains, supported by an additional outlay of ₹40,000 crore for the Electronics Components Manufacturing Scheme.

Big plans to make travel and shipping faster across India were also announced in the new Union Budget for 2026-27. The plan includes building seven new high-speed train routes and investing ₹10,000 crore to begin manufacturing shipping containers locally, which will help Indian goods reach global markets more easily.

In a major boost for small businesses and the life sciences sector, the Union Budget 2026-27 on Sunday introduced a ₹10,000 crore SME Growth Fund and the 'Biopharma SHAKTI' scheme. These initiatives aim to position Indian MSMEs as global players and establish the country as a leading hub for biologics and biosimilars research.

The Minister also mentioned other plans like an integrated program for the labour-intensive textile Sector, support to states for 3 dedicated Chemical Parks, 7 high-speed rail corridors as growth collectors, 5 University townships near major industrial & logistic corridors, AVGC content creator labs in 15000 secondary schools & 500 colleges and a scheme to establish 5 regional hubs for medical tourism.

- ANI

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Reader Comments

S
Sarah B
While the vision for 2047 is ambitious, I hope the execution matches the promise. The SME Growth Fund is a positive step, but will it actually reach the small businesses in tier-3 cities on time? Implementation is key.
P
Priya S
Reskilling youth and AVGC labs in schools/colleges is a forward-thinking move. Our young population is our biggest asset. If we equip them with future skills, Viksit Bharat is not just a slogan. Good focus!
R
Rohit P
High-speed rail corridors and developing tier-2/3 cities will finally bridge the urban-rural divide. My hometown needs that connectivity boost for jobs. Hope the projects don't get stuck in delays like before.
M
Michael C
The emphasis on domestic supply chains and local container manufacturing is smart economics. Reduces dependency and makes exports more competitive. The record capital expenditure shows serious intent.
K
Kavya N
Biopharma SHAKTI and medical tourism hubs are excellent. India can be a global healthcare leader. But alongside big schemes, we must not forget basic healthcare infrastructure in villages. Both are important.
V
Vikram M
The budget sounds comprehensive on paper. My only request: please ensure the benefits reach the common man and not just big industries. Inflation control should go hand

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