Budget to bolster India's global image as attractive investment destination: Shah
New Delhi (PTI): Union Home Minister Amit Shah said the Budget announced on Sunday "turbocharges the momentum" to bolster India's position on the global stage as the most attractive investment destination for a wide range of sectors, from traditional to the new-age ones.
"From manufacturing to infrastructure, from health to tourism, from rural areas to AI, from sports to pilgrimage sites, #ViksitBharatBudget is a budget that empowers the dreams of the youth, women, and farmers of every village, every town, and every city, enabling them to realize those dreams," Shah said in a series of messages on 'X'.
Congratulating Prime Minister Narendra Modi and Nirmala Sitharaman for "resounding reaffirmation" of the government’s commitment to drive growth and development with fiscal prudence, Shah said the budget fulfils the target of keeping the fiscal deficit below 4.5 per cent.
Shah said the Budget reflects the vision of a developed India by 2047 and the roadmap for the next 25 years.
"Through the Budget 2026-27, Prime Minister Modi Ji has proven that Atmanirbhar and Viksit Bharat is not just a slogan, but the resolve of our government. This budget not only provides a clear blueprint for empowering every sector, every class, and every citizen, but also offers a grounded vision to encourage it, which will support it at every step. #ViksitBharatBudget is a vision for building an India that leads in every field in the world," he said.
Shah said a historic decision has been taken in the Budget to launch the Mahatma Gandhi Gram Swaraj Yojana in the direction of realising Mahatma Gandhi's dream of Gram Swaraj.
"This will strengthen the rural economy and provide new support to weavers, farmers and the handloom industry," he said.
The Union home minister said the decision to benefit three crore farmers through the Coconut Promotion Scheme in coastal areas, promote production and export of cashew and coconut, and conserve sandalwood clearly demonstrates that Prime Minister Modi is fully committed to the prosperity of farmers and to making agriculture a profitable enterprise.
"A visionary decision has been taken in the #ViksitBharatBudget to increase farmers' income through livestock. Increasing the number of veterinarians, expanding veterinary centers and training centers will strengthen the livestock-based economy," he said.
"#ViksitBharatBudget will give unprecedented momentum to connectivity in India. Seven high-speed rail corridors announced today aimed at supercharging inter-city connectivity and slashing down travel time across key economic and population centres of our country," he said.
Shah said decisions such as providing credit-linked subsidies for the dairy and poultry sectors, developing 500 reservoirs to promote fisheries, and providing access to global markets will prove to be milestones in the direction of the Modi government's resolve to increase farmers' income.
"#ViksitBharatBudget embodies Bharat as a nation forging its new identity as an emerging economic power center with resolute trust in its own strengths. Post covid, PM @narendramodi Ji's visionary economic policies have fuelled the Indian economy. #ViksitBharatBudget turbocharges the momentum to bolster India's position on the global stage as the most attractive investment destination for a wide range of sectors, from traditional to the new-age ones," he said.
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Railways: FM Sitharaman allocates Rs 2.77 lakh crore for capital expenditure
New Delhi (PTI): Finance Minister Nirmala Sitharaman on Sunday allocated Rs 2,77,830 crore to the Ministry of Railways for capital expenditure in the financial year 2026–27.
The Budget allocation includes the construction of new lines and the purchase of locomotives, wagons, and coaches, among other works.
The ministry had received Rs 2,52,000 crore in FY 2025–26. The current allocation for the upcoming financial year is 10.25 per cent higher, making it the highest ever. Besides, the ministry will get Rs 15,000 crore from Extra Budgetary Resources, the document showed.
According to the Budget document, the railways’ total earnings are projected at Rs 3,85,733.33 crore, while expenditure is estimated at Rs 3,82,186.01 crore, resulting in a surplus of Rs 3,547.32 crore at the end of the financial year.
"Since the railways' earnings are too meagre to fund asset creation and support new works, it receives funds from the government. Accordingly, the ministry has been allocated Rs 2,77,830 crore to undertake activities such as laying new lines, converting narrow gauge to broad gauge, and constructing double lines on single-line routes," a railway official said.
The Budget document has earmarked funds from the Rs 2,77,830 crore allocation for various construction and asset creation projects. These include Rs 36,721.55 crore for new lines, Rs 4,600 crore for gauge conversion, Rs 37,750 crore for doubling, Rs 52,108.73 crore for rolling stock (locomotives, wagons, etc.), and Rs 7,500 crore for signalling and telecom, among others.
The allocation under the signalling and telecom head is significant as the automatic train protection system, Kavach, falls under this department. The ministry has laid strong emphasis on expanding Kavach coverage across the rail network.
The document also presents the actual earnings and expenditure of the railways in 2024–25. During the year, railways earned Rs 3,35,757.09 crore and spent Rs 3,32,440.64 crore, recording a surplus of Rs 3,316.45 crore. The budgetary allocation for the year stood at Rs 2,51,946.56 crore.
"As far as FY 2025–26 is concerned, the actual figures for earnings and expenditure will be available only after the financial year ends,” an official said, adding that largely earnings and expenses are on expected lines with minor changes.
Out of the total expenditures of the railways, the biggest share goes on paying pensions to its employees.
According to Budget documents, expenditure on pensions was Rs 58844.07 crore in 2024-25, which is expected to rise to Rs 74500 crore in 2026-27.
