Union Finance Minister Nirmala Sitharaman on Sunday presented her ninth consecutive Union Budget, emphasising India's fiscal discipline and structural reform as the nation navigates a volatile global environment where trade and multilateralism remain critical amid 50 per cent US tariffs on Indian goods.
Opening the budget speech, Sitharaman said the external environment is increasingly uncertain, making cooperation and global engagement imperative. Against this backdrop, she highlighted what she described as India’s stable economic trajectory since the government assumed office 12 years ago.
“India’s economic trajectory has been marked by fiscal discipline, sustained growth, moderate inflation and stability,” Sitharaman said, adding that these outcomes were the result of deliberate policy choices taken even during periods of disruption and uncertainty.
Over nearly a decade of budget presentations, Sitharaman has emerged as the face of the government’s economic strategy, consistently emphasising prudence while maintaining a strong focus on public investment. In her latest address, she reiterated that approach, saying fiscal prudence and monetary stability have gone hand in hand with far-reaching structural reforms.
She underlined self-reliance as a core pillar of policy, citing efforts to build domestic manufacturing capacity, strengthen energy security and reduce dependence on critical imports. According to Sitharaman, these measures are aimed at improving resilience and insulating the economy from external shocks.
The finance minister said the government’s “sankalp”, or resolve, remains centred on the poor, the underprivileged. The budget, she noted, is the first to be prepared in Kartavya Bhavan and is inspired by three guiding “Kartavya”.
The first duty is to accelerate and sustain economic growth by enhancing productivity and competitiveness while building resilience to volatile global dynamics. Sitharaman said this focus reflects the need for India to remain agile in an era of shifting trade patterns and global uncertainty.
The second duty is to fulfil the aspirations of India’s people by building their capacity and making them active partners in the country’s journey towards prosperity. Sitharaman emphasised that inclusive growth depends on empowering citizens to participate meaningfully in the economy.
The third duty, aligned with the government’s vision of Sabka Saath Sabka Vikaas, is to ensure that every family, community, region and sector has access to resources, amenities and opportunities.
As Sitharaman delivers her ninth budget in a row, the speech reinforces continuity in India’s economic policy framework, signalling a sustained commitment to discipline, reform and inclusive growth even as global headwinds persist. |
