Budget 2026 Puts India on Track to Become World's 3rd Largest Economy

Patil said inflation has been contained, and the country's growth trajectory remains strong under Narendra Modi's leadership. Drawing a comparison with previous governments, he said that despite former Prime Minister Manmohan Singh being an economist and leading the country for a decade, India's economy had remained ranked 11th globally.

"Today, India is on the verge of becoming the third-largest economy, which reflects the correctness of the BJP government policies," he said.

Highlighting reforms, the minister said the government's primary objective is to frame policies in the interest of the common man. He recalled that the Prime Minister had promised reforms in his Independence Day address on August 15, 2025, and that the government implemented around 350 reforms within six months. These included simplifying GST, introducing new labour laws, and sector-specific measures aimed at long-term growth.

Patil described the Union Budget 2026 as "special" and said it provides a significant boost to multiple sectors with a focus on empowering the poor and underprivileged. He said the budget prioritises six major areas and includes provisions to enhance production and employment.

Among the key announcements, he cited proposals to set up three chemical plants, construct two high-tech tool rooms, allocate Rs 10,000 crore for container manufacturing, and provide enhanced support for the textile sector. A new Mahatma Gandhi-named scheme has also been announced to strengthen handicrafts, while girls' hostels will be built in every district.

On water-related initiatives, Patil said over 69,000 reservoirs have been constructed under the Amrit Sarovar scheme, exceeding the original target. He added that under the Jal Jeevan Mission, tap water connections have been provided to 16 crore households, benefiting around 9 crore women. The mission has been extended till 2028, with provisions made to ensure water supply to every household.

Addressing national security, Patil said the budget allocation for security has been increased by Rs 1 lakh crore, emphasising the need for global cooperation. He also discussed pilot projects in 22 states to streamline agricultural water use.

On political issues, the minister blamed the Indian National Congress for disruptions in Parliament and defended the Prime Minister's inability to respond amid the deadlock. He also said work is underway to stop Indus River water from flowing to Pakistan, asserting that "not a single drop" would be allowed to flow in the future.

- ANI