Ahead Of Budget 2026: PM emphasises ‘Reform, Perform, Transform’

KEY TAKEAWAYS

• Potential growth for India estimated at around 7%, while real GDP growth for FY27 projected at 6.8-7.2%
• First advance estimate projects real GDP growth and GVA growth for FY26 to 7.4% and 7.3%, respectively
• Centre revenue receipts rose to 9.2% of GDP in FY25 (PA) GNPAs reach multi-decadal low of 2.2% in September 2025
• 55.02 crore bank accounts opened as of March 2025 under PMJDY
• Number of unique investors cross the 12-crore mark in September 2025
• India’s share of global merchandise exports nearly doubles from 1% to 1.8% between 2005 and 2024
• Services exports touch an all-time high of $387.6 billion in FY25, growing by 13.6%
• India remains the world’s largest recipient of remittances, with inflows reaching $135.4 billion in FY25

New Delhi: Prime Minister Narendra Modi on Thursday said his government is focused on “Reform, Perform and Transform - India on a Reform Express,” aiming to address long-term challenges with sustainable solutions and enhance predictability on the global stage. Speaking ahead of the presentation of the first Budget of the second quarter of the 21st century, Modi said the approach reflects the aspirations of 140 crore Indians, particularly the youth.

He noted that the President’s Address to Parliament the previous day outlined guidance for all lawmakers and expressed confidence that MPs would take the expectations seriously.

“The President’s Address yesterday was the expression of the trust of 140 crore Indians, an account of their capability, and a sketch of their aspirations, especially of the youth,” Modi said while addressing the media at Parliament ahead of the Finance Minister’s presentation of the Economic Survey 2026 in the Lok Sabha.

“One-fourth of the 21st century has gone by. This is the beginning of the next quarter. To attain the goal of Viksit Bharat 2047, an important 25-year phase has begun. The first Budget of this second quarter of the century is about to be presented,” Modi said.

The Prime Minister highlighted that Finance Minister Nirmala Sitharaman is the first woman FM to present the Budget in Parliament for the ninth consecutive time, marking a historic moment in India’s parliamentary history.

“This quarter has begun on a very positive note. A self-confident India has become a ray of hope for the world today and a centre of attraction. At the beginning of this quarter, India and the European union signed a Free Trade Agreement. It reflects the bright directions ahead and the promising future of Indian youth.

This is Free Trade for an Ambitious India, Free Trade for Aspirational Youth, Free Trade for Aatmanirbhar India. I am confident that Indian manufacturers will use this opportunity to enhance their capabilities,” he added.