Union Petroleum and Natural Gas Minister Hardeep Singh Puri has described the Union Budget 2026–27 as a reflection of India’s economic resilience and structural transformation, underlining that the spending plan balances fiscal discipline with a strong push to capital investment and clean growth.
Puri said the Budget signals confidence in an economy that has moved from the “Fragile Five” category to the world’s fourth-largest. India’s GDP growth for FY26 is projected at 7.4 percent, making it the fastest-growing major economy for the fourth consecutive year even as global growth remains near 3 percent, he said.
The minister pointed to a sharp improvement in price stability, noting that India recorded one of the steepest reductions in headline inflation among major economies in 2025 at about 1.8 percent, with the April–December average at 1.7 percent, aided by moderation in food prices.
A key highlight of the Budget is the record ₹12.2 lakh crore capital expenditure for 2026–27—over 430 percent higher than in 2013–14. Allocations for national highways have risen by 500 percent, defence by 210 percent, health by 176 percent, and education by 110 percent over the past decade. “Every rupee spent on highways generates ₹3.2 in GDP,” Puri said.
Infrastructure expansion has reshaped connectivity, he added. National highway length has grown from 91,000 km in 2014 to nearly 1.46 lakh km; the metro network from 248 km to over 1,000 km; and airports from 70 to around 160. More than 164 Vande Bharat trains are operational, with 260 sleeper trainsets planned and seven high-speed rail corridors announced.
On energy and sustainability, Puri highlighted new measures including a ₹20,000-crore mission for Carbon Capture, Utilisation and Storage (CCUS) and duty exemptions for lithium-ion battery equipment, critical minerals and nuclear projects till 2035. Initiatives such as Bio-Pharma SHAKTI (₹10,000 crore) and a ₹10,000-crore MSME Growth Fund aim to align industrial competitiveness with clean growth.
Describing the Budget as “nation-building”, the Minister said it strengthens India’s path towards an Aatmanirbhar and Viksit Bharat, combining infrastructure-led growth with energy transition and innovation.
