One standout feature of the budget is its strong push for technology-driven sectors. The India Semiconductor Mission 2.0 aims to boost domestic capacity with new equipment, materials and full-stack Indian IP. This along with tax breaks to hyperscalers, industry-led research and workforce training will further boost India's technology future. This initiative also demonstrates India's ambition to build resilient supply chains and become a significant global semiconductor hub. Additionally, the government's plan to develop rare earth corridors in mineral-rich states shows a long-term strategy for securing critical resources needed for clean energy, electronics and advanced manufacturing.
Equally significant is the budget's focus on skilling and future-readiness. The proposed High-Powered Education-to-Employment and Enterprise Committee and broader emphasis on AI-driven skilling aim to ensure that India's talent base is equipped for emerging opportunities. These initiatives recognise that India's demographic advantage must translate into a competitive, adaptable workforce capable of supporting both domestic industries and global service demand.
The budget also strengthens the policy environment for digital and technology-forward enterprises. Targeted incentives-including the new tax holiday for foreign companies providing global cloud services using India-based data centres-signal a strong commitment to deepening the country's digital infrastructure and attracting high-quality investment. Together, these measures reinforce India's positioning as a strategic destination for innovation, services and advanced manufacturing.
Fiscal responsibility remains a core focus. The government has set a fiscal deficit target of 4.3 per cent of GDP for FY 2026-27, reflecting strong fundamentals and boosting investor confidence worldwide. This careful balance between cautious spending and targeted investments lays a solid foundation for long-term growth.
This budget underscores India's commitment to stability through ongoing reforms, emphasising technology, human capital and strategic resource development to achieve long-term growth. Anchored by the Viksit Bharat vision, the budget aims for advanced, inclusive and responsible progress. Its balanced fiscal approach and focus on capability building, innovation and institutional reform reinforce India's credibility and future-readiness. Collectively, these measures position India to pursue its ambition of becoming a $10 trillion economy by 2047 as envisioned by the Prime Minister in his 2025 Independence Day speech.
