Union Finance Minister Nirmala Sitharaman formally laid the foundation for a USD 5 trillion economy when she presented her ninth budget. The budget was inspired by three ‘kartavyas’: Accelerate economic growth by enhancing productivity, competitiveness, and resilience; fulfilling aspirations and building capacity by strengthening human capital, skills, and institutional capabilities; and advancing Sabka Sath, Sabka Vikas by ensuring equitable access to opportunities across regions, communities, and sectors. Manufacturing, infrastructure, MSMEs, healthcare, urban advancement, electronics, and supply networks formed the core of the future strategy to maintain the country’s economic momentum. The budget promises unprecedented empowerment for youth, women, and farmers. This time, focus has been on education and health. Ministry of Health and Family Welfare outlay has been raised to ₹1,06,530.42 crore in 2026–27, an increase of nearly 10 percent. Likewise, the Ministry of Education has got an allocation of ₹139289.48 crore, an increase of 8.27 percent over 2025-26. The Centre did not disappoint Jammu and Kashmir either. The Finance Minister proposed Rs 43290.29 crore for the Union Territory, which is Rs 2000 crore more than the allocation for the current year. J&K’s assistance has been revised to Rs 41340 crore, up from Rs 41000.07 crore, marking an increase of Rs 340 crore. The budget proposes Rs 42650 crore as central assistance to bridge the resource gap of J&K, Rs 279 crore as grants towards contribution to the Union Territory Disaster Response Fund, Rs 259 crore as equity for the Jhelum Tawi Flood Recovery Project, and Rs 101 crore as support for capital expenditure in the Union Territory. Jammu and Kashmir Police, which comes under the Ministry of Home Affairs, will receive Rs 9925 crore in the next fiscal year. Ladakh UT has been allocated Rs 4869.31 crore. The allocation includes Rs 2542.26 crore for revenue expenditure and Rs 2,327.05 crore for capital expenditure. Lieutenant Governor Manoj Sinha is right when he says India’s competitive edge will strengthen across every economic domain, while this progressive financial blueprint will establish the foundation for comprehensive sectoral expansion and global prominence. India is marching towards becoming the world’s third-largest economy with a consistent growth rate of over 6.5%. · By 2030, India is set to become the world’s third-largest economy with a projected GDP of USD 7.3 trillion. The budget is a blueprint for the new dawn. There is plenty for a common man. Foreign education has become cheaper. Essential goods and medical supplies, including cancer and diabetes drugs, have been inexpensive. Consumer goods like mobiles, tablets, and others have also become cheaper. The government has presented a feel-good budget. Yet there is room for improvement. The AB-PMJAY cover needs to be increased. The government must hold private and corporate hospitals accountable for refusing treatment under AB-PMJAY. The process for loan facilities for educated youth should be made easy so that entrepreneurship is encouraged. Let this budget augur well for people and bring prosperity to our nation.
Budget FY27
