Prime Minister Narendra Modi engaged in a significant pre-budget consultation on Tuesday, seeking inputs from a distinguished panel of economists and sector specialists for the upcoming Union Budget. The high-level meeting, which commenced at 11 am, was a key step in shaping the nation's financial roadmap.
High-Level Consultation for National Vision
The gathering was chaired by Finance Minister Nirmala Sitharaman, who is scheduled to present the Union Budget for 2026-27 on February 1. The forum saw the presence of several key figures, including Niti Aayog vice chairman Suman Bery and Niti Aayog CEO BVR Subrahmanyam, alongside other members of the Aayog and invited experts.
During the interactive session, Prime Minister Modi articulated the imperative for India to develop world-class competencies and achieve deeper integration into the global economy. He underscored that the country's policy formulation and budgetary allocations must be firmly rooted in the long-term objective of transforming India into a developed nation.
Anchoring Policy to the 2047 Goal
The discussion was centered on the theme ‘Aatmanirbharta and Structural Transformation: Agenda for Viksit Bharat’. PM Modi emphasized that the vision of a developed India (Viksit Bharat) by 2047 has moved beyond being merely a government blueprint to becoming a widespread public aspiration.
He stressed the critical need for India to cement its position as a pivotal center for the international workforce and global markets. This, he noted, is essential for sustainable growth and for realizing the ambitious national goals set for the next quarter-century.
Setting the Stage for a Crucial Budget
This consultation marks a pivotal phase in the budget preparation process, signaling the government's intent to incorporate expert economic advice into its fiscal planning. The focus on structural transformation and self-reliance, aligned with global benchmarks, indicates the strategic direction for the forthcoming financial announcements.
The inputs gathered from this meeting are expected to significantly influence the final contours of the budget, which will be presented to the nation by Finance Minister Sitharaman early next year.
