India, Feb. 2 -- This was a budget of a mature economy, for an economically stable country, and by a government that is confidently looking beyond today. Union Budget 2026-27 signals a shift from crisis management to long-term nation-building, aligning with Prime Minister (PM) Narendra Modi's vision of a developed India by 2047. Rather than announcing flashy giveaways, the government has focused on strengthening core systems: Health care, education, manufacturing, infrastructure and now explicitly, energy security and cutting-edge technologies, including AI. It leaps to the eye that the Modi government is preparing India for sustained growth, for a march towards becoming a developed economy. Infrastructure spending remains the backbone of the budget. With over Rs.12 lakh crore allocated for capital expenditure, the government is once again acting as the primary growth engine at a time when private investment is still cautious. This approach supports construction jobs in the short term while improving productivity in the long term through better roads, housing and urban systems. The announcement of seven high-speed rail corridors adds a new layer to this strategy. What does it mean? It clearly signals faster connectivity between major economic centres. Alongside city economic regions, new freight corridors, inland waterways, coastal cargo promotion and support to states, the Modi government is now thinking in terms of agglomeration economics. Cities, especially tier II and tier III, are being positioned as growth engines rather than mere population magnets. Manufacturing policy has been sharpened further. Semiconductor Mission 2.0, Biopharma SHAKTI, rare earth magnets, container manufacturing, textile cluster revival, chemical parks, electronics components and construction equipment upgrades point to a deliberate effort to rebuild India's industrial base. These are not isolated announcements. Together, they form a supply-chain strategy aimed at reducing critical import dependence while building domestic capability. Tax reforms supporting aircraft manufacturing, footwear, seafood exports and bonded zones reinforce this push. This could steadily lift manufacturing's share of GDP and strengthen export competitiveness. Micro, small, and medium enterprises (MSMEs) have also been brought firmly into the frame, with a three-pronged support system: Equity via a Rs.10,000 crore growth fund, liquidity through the RBI-regulated Trade Receivables Discounting System (TReDS) and credit guarantees, and professional hand-holding via "corporate mitras". MSMEs are where employment meets entrepreneurship. On fiscal policy, finance minister Nirmala Sitharaman has chosen balance over bravado. By keeping the fiscal deficit at 4.3% of GDP and committing to a debt-to-GDP target of around 50% by 2030, she signals discipline without retreating from development. The shift towards debt management rather than just annual deficit targets reflects a more mature approach to public finance. The most immediate and positive policy impact will be on employment. Five medical value tourism hubs, expanded bio-pharma facilities, allied health training, caregiver programmes, and new Ayurveda institutes will create jobs across skill levels. University townships near industrial corridors, AVGC (animation, visual effects, gaming, comics) creator labs in schools, sports infrastructure under Khelo India, and hospitality institutes will generate steady economic activity far beyond classrooms. For households, the policy direction remains supportive but measured. After the tax relief last year, this budget avoids large new consumption incentives. Instead, it focuses on job creation, income stability and ease of living through lower tax collection at source (TCS) on education and overseas travel, simpler compliance, extended return timelines and dispute resolution mechanisms. The message is loud and clear: Growth first, consumption follows. The services sector gets renewed attention, with IT safe harbour reforms, cloud data centre tax holidays till 2047, medical tourism, design institutes and the orange economy. Space tech, bio-pharma, semiconductors and AI are being treated as strategic priorities. India is no longer content to compete only on low-cost labour. It wants to move decisively up the global value chain. Rural India, resurgent India; agriculture and allied sectors remain integral, but the emphasis is shifting towards productivity and integration with manufacturing and services. Horticulture, fisheries, animal husbandry, agro-processing, reservoir development and AI-enabled AgriStack platforms aim to lift rural incomes while easing migration pressure on cities. This is rural development with an economic spine. Energy security also finds a strong footing, from carbon capture to lithium-ion batteries, nuclear power exemptions and biogas incentives. Reduced dependence on critical imports is now explicitly part of the growth strategy. Overall, budget 2026 clearly shows PM Modi's vision and intention to make India a strong and developed economy by 2047....