Dehradun, February 7: Union Petroleum and Natural Gas Minister Hardeep Singh Puri hailed the Central Budget 2026-27 as a powerful testament to India’s economic transformation since 2014. Addressing a press conference here, Puri emphasized that the budget strikes a delicate balance between fueling growth and maintaining fiscal discipline.
He highlighted India’s remarkable journey from being among the ‘Fragile Five’ economies to emerging as the world’s fourth-largest economy and one of the most reliable global growth stories. ‘This budget is visionary and consolidation-focused, building on the foundations laid over the past decade to prepare India for the next phase of global leadership,’ Puri stated.
Driven by robust consumption and investment, India’s GDP growth for FY 2026 is projected at 7.4 percent—far outpacing the global average of around 3 percent. This marks the fourth consecutive year that India solidifies its position as the fastest-growing major economy.
Puri pointed to India’s stellar inflation control, with the country recording the sharpest decline among major economies in 2025 at nearly 1.8 percent. From April to December 2025, inflation averaged about 1.7 percent, thanks to lower prices of food items like vegetables and pulses. Compared to many developed and emerging economies, India’s inflation remains significantly lower.
Shifting focus to capital expenditure, the minister underscored a decisive move toward investment-led growth since 2014. Total capex for 2026-27 stands at approximately ₹12.2 lakh crore, reflecting over 430 percent growth compared to 2013-14. Allocations for national highways have surged nearly 500 percent, defense by over 210 percent, health and family welfare by about 176 percent, and education by more than 110 percent.
Infrastructure spending has become a key growth engine, Puri noted. Every rupee spent on national highway development contributes ₹3.2 to the GDP, underscoring the multiplier effect of these investments. The budget not only sustains this momentum but also signals India’s maturing economic confidence on the global stage.