Union Commerce and Industry Minister Piyush Goyal on Saturday said the Union Budget 2026-27 lays a decisive foundation for building a developed India by 2047, with a sharp focus on infrastructure, self-reliance and export-led growth.

Addressing a press conference in Mumbai on Saturday, Goyal described the Budget as a blueprint anchored in economic expansion and inclusive development. Referring to Prime Minister Narendra Modi’s call for a “nation first” approach, he said the financial plan seeks to “give new wings to a developed India”.

A central pillar of the Budget, he noted, is capital expenditure. An outlay of ₹12.21 lakh crore has been earmarked for infrastructure, which he said would reduce logistics costs and strengthen domestic manufacturing. “Every rupee spent on infrastructure generates a 3 to 3.5 times multiplier effect,” Goyal said, adding that investments would extend beyond metros to Tier-2 and Tier-3 cities.

Maharashtra set for investment surge

He asserted that Maharashtra would be among the largest beneficiaries. The state’s allocation has been pegged at around ₹1 lakh crore, with enhanced funding for railways and major connectivity projects. Infrastructure initiatives such as the Vadhawan Port, the Delhi-Mumbai Expressway and upcoming airport projects are expected to bolster the state’s industrial growth.

Railway allocations for Maharashtra have risen sharply over the years, he said, underlining increased investment in high-speed corridors and freight connectivity.

MSMEs, startups and data centres in focus

The minister also highlighted measures aimed at micro, small and medium enterprises (MSMEs), including a ₹10,000 crore growth fund and an expanded credit guarantee scheme. Startups, he said, are emerging as job creators and problem-solvers.

 On the technology front, Goyal pointed to plans for scaling up data centres, particularly in Mumbai and Navi Mumbai, citing subsea cable landings as a strategic advantage. These facilities, powered increasingly by renewable energy, are expected to attract foreign investment and generate export earnings through cloud services.

Trade pacts expand global market access

Touching upon trade, Goyal said India has concluded nine free trade agreements covering 38 developed countries, opening preferential access to nearly 70 per cent of global markets while safeguarding sensitive sectors such as dairy and agriculture. Labour-intensive industries, he added, stand to gain from expanded export opportunities.