Lucknow — Describing the Union Budget 2026–27 as a decisive step towards building a self-reliant and future-ready India, Sarojini Nagar MLA Dr Rajeshwar Singh on Sunday said the budget lays a strong foundation for sustainable economic growth while opening new avenues of development for Uttar Pradesh.
Reacting to the budget presented in Parliament by Finance Minister Nirmala Sitharaman, Dr Singh said the annual financial statement is not merely an account of income and expenditure, but a clear reflection of the government’s priorities, policy direction, and long-term vision for national development. He noted that Budget 2026–27 has generated widespread discussion across political, economic, and social circles due to its forward-looking and data-driven approach.
According to Dr Singh, the budget goes beyond addressing immediate economic needs and is designed to prepare India’s economy for the challenges and opportunities of the next decade. “This is a numbers-driven, future-oriented budget that balances growth, fiscal discipline, and socio-economic stability. It strengthens India’s position on the global economic stage,” he said.
Long-Term Vision Over Short-Term Populism
Dr Rajeshwar Singh emphasised that the government has consciously prioritised long-term structural reforms over short-term populist measures. With a strong focus on infrastructure, investment, technology, youth empowerment, and green growth, the budget reinforces the national commitment to Aatmanirbhar Bharat.
He added that the policy framework outlined in Budget 2026–27 reflects strategic thinking aimed at enhancing productivity, competitiveness, and resilience of the Indian economy.
Record Capital Expenditure to Drive Growth and Jobs
Highlighting one of the most significant features of the budget, Dr Singh pointed to the proposed ₹12.2 lakh crore capital expenditure, which amounts to nearly 4.4 per cent of GDP, the highest ever allocation under this head.
“This unprecedented capital outlay will act as a strong catalyst for growth by boosting infrastructure development, construction activity, transport networks, and manufacturing. It will also generate large-scale employment opportunities and accelerate economic momentum across sectors,” he said.
Balancing Growth with Fiscal Discipline
Dr Singh noted that the government’s commitment to maintaining a fiscal deficit target of around 4.3 per cent reflects a responsible and balanced approach to economic management. He said the emphasis on fiscal prudence, alongside growth-oriented spending, will strengthen macroeconomic stability and enhance investor confidence.
“This balance between rapid development and fiscal discipline is crucial for sustaining long-term growth and ensuring economic credibility at the global level,” he added.
Direct Gains for Uttar Pradesh
Dr Rajeshwar Singh said Uttar Pradesh stands to gain significantly from the Union Budget 2026–27. He highlighted the state’s participation in seven high-speed rail corridors, increased allocation for logistics and connectivity infrastructure, and an estimated ₹2.8 lakh crore inflow through enhanced central tax devolution.
“These measures will help position Uttar Pradesh as one of the country’s key growth engines and employment hubs. Improved connectivity and logistics will not only attract investment but also integrate the state more strongly with national and global markets,” he said.
Focus on Youth, MSMEs and Technology
The MLA also welcomed the budget’s emphasis on youth-driven growth and innovation. He cited the ₹40,000 crore allocation for Semiconductor Mission 2.0, targeted measures to strengthen the MSME sector, and continued support for the startup ecosystem as steps that will open new avenues for high-skilled employment and entrepreneurship.
“These initiatives will create opportunities for innovation-led growth, particularly for young professionals, engineers, and entrepreneurs, while strengthening India’s technological capabilities,” Dr Singh noted.
Green Growth and Digital Education
Dr Singh further praised the budget’s focus on renewable energy, sustainable infrastructure, and climate-aligned finance, stating that environmental responsibility has been integrated into the growth narrative. He also welcomed initiatives aimed at expanding digital education and AI-based learning platforms, which he said would play a critical role in building future-ready human capital.
“India’s development trajectory is now clearly aligned with environmental sustainability and technological advancement,” he said.
A Budget for the Next Decade
Summing up his assessment, Dr Rajeshwar Singh said Union Budget 2026–27 is not a short-term relief package but a comprehensive blueprint for the coming decade.
“This budget lays a strong foundation for an inclusive, sustainable, and employment-oriented economy. It will further integrate Uttar Pradesh into the national development mainstream and provides a clear roadmap for building a resilient and self-reliant India,” he said.
