Prime Minister Narendra Modi on Thursday said the Union Budget is not a short-term trading document but a long-term policy roadmap designed to drive India’s journey toward becoming a developed nation by 2047.
Speaking at a post-Budget webinar on the theme “Technology, Reforms and Finance for Viksit Bharat,” the Prime Minister emphasized that budgets should be evaluated based on their ability to expand infrastructure, ease credit flow, improve ease of doing business, enhance governance transparency, and simplify citizens’ lives.
He stated that every budget represents a step in the continuous nation-building process, aligned with the broader goal of Viksit Bharat 2047.
Post-Budget Webinars Should Drive Action
PM Modi stressed that post-Budget webinars must move beyond discussions and serve as platforms for practical, experience-driven brainstorming.
He highlighted the importance of joint participation by industry leaders, academicians, analysts, and policymakers to ensure better implementation of schemes and measurable outcomes. According to him, collaborative engagement is essential for translating policy announcements into real-world impact.
Reforms Behind India’s Economic Strength
The Prime Minister noted that as the 21st century completes its first quarter, India is at a critical stage of rapid economic transformation.
He said the country’s resilience over the past decade is the result of determined policy reforms rather than coincidence. Simplification of processes, technology-driven governance, and stronger institutional frameworks have accelerated economic growth.
PM Modi underlined that reforms should be judged by their ground-level impact rather than mere announcements.
Infrastructure Investment to Drive Long-Term Productivity
Highlighting the government’s infrastructure push, the Prime Minister said sustained investments in highways, railways, ports, digital networks, and power systems are building long-term productivity assets for the nation.
He pointed out that public capital expenditure has risen sharply—from around ₹2 lakh crore 11 years ago to over ₹12 lakh crore today. This significant increase sends a strong signal to the private sector about India’s long-term growth strategy.
Greater Role for Private Sector and Financial Institutions
PM Modi urged industry and financial institutions to step up infrastructure investment, develop innovative financing models, and collaborate in emerging sectors.
He also emphasized strengthening project approval mechanisms, improving evaluation standards, and prioritizing cost-benefit analysis and lifecycle costing to ensure sustainable and efficient development.
Foreign Investment and Bond Market Reforms
The Prime Minister stated that the foreign investment framework is being simplified to make it more investor-friendly.
To strengthen long-term finance, the government is working to deepen and activate the bond market while streamlining transaction processes. He described bond market reforms as a critical pillar for sustaining long-term economic growth.
Proposal for a Reform Partnership Charter
PM Modi suggested developing a “Reform Partnership Charter” as a shared commitment between the government, industry, financial institutions, and academia.
He said such a charter would serve as a guiding document in India’s journey toward becoming a developed economy.
Collective Effort Key to Viksit Bharat
Concluding his address, the Prime Minister called upon all stakeholders to leverage opportunities created by the Budget and actively participate in implementation efforts.
He stressed that simplifying procedures and accelerating policy execution on the ground are essential to building a strong, dynamic, and resilient economy in line with the vision of Viksit Bharat by 2047.
