Igniting growth engines for Viksit Bharat

The FY26 Budget has its eyes fixed on Viksit Bharat by 2047. It identifies the key long-term growth levers, structural changes and the actions that the government intends to take.

- RAJIV MEMANI

It reflects fiscal prudence via a commitment to maintaining the government debt to GDP ratio while providing an immediate consumption boost. I must congratulate the Finance Minister for achieving multiple objectives at one go.

For India to grow rapidly it needs to create more jobs and opportunities for the youth. Increasing private investments and raising the share of manufacturing and exports in the economy are critical for employment generation.

The government has identified specific industries that are either labour intensive or related to new age productselectronics, leather products, toys, batteries and clean tech products related to energy transition for domestic and export markets. The ecosystem is proposed to be created through a combination of schemes, development of clusters and skills, and complemented by policy and facilitation measures. The Budget has proposed changes in customs tariffs for both input materials and capital goods to ensure cost competitiveness of domestic manufacturing. Entrepreneurs and exporters should expect a more consultative and facilitative government.