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Rajasthan Deputy Chief Minister Diya Kumari, on Monday, hailing the 2026-27 Union Budget, underlined the country's progress toward the aim of "Viksit Bharat"
Speaking with ANI, Diya Kumari said, "This budget has been presented with the aim of laying the foundation for 'Viksit Bharat' by giving momentum to the economy. The dream of seeing India as a major global power will also be realised for every Indian." "This budget will be very important. There's something in this budget for every sector. Our economy has strengthened, we are on our way to become third largest economy," she added. Earlier, Union Civil Aviation Minister Ram Mohan Naidu lauded the Union Budget, emphasising that the civil aviation sector has emerged as a primary beneficiary of the government's latest fiscal roadmap. Speaking on the long-term impact, the Union Minister noted that the government is working to establish a robust aircraft manufacturing ecosystem, highlighting that this budget provides a clear roadmap to achieve that vision. "I am very happy to share that in today's budget speech, which has been proposed by the finance minister, civil aviation has been a major beneficiary. One of the strongest impact areas in civil aviation is the manufacturing sector, where many other countries have taken advantage. When we want to buy these planes, we are buying them from other countries and other OEMs," Naidu said. Some of the key announcements of the budget were that public capital expenditure has been increased to Rs 12.2 lakh crore for FY 2026-27, up from Rs 11.2 lakh crore in the previous year, underlining the government's continued focus on infrastructure-led growth. Key initiatives include the development of seven high-speed rail corridors connecting major cities, new dedicated freight corridors, and the operationalisation of 20 national waterways over the next five years to promote environmentally sustainable transport systems. A major highlight on the taxation front was the announcement that the New Income Tax Act, 2025 will come into effect from April 2026, accompanied by simplified rules and redesigned forms to ease compliance for taxpayers. The Budget also proposes reductions in Tax Collected at Source (TCS) rates for overseas tour packages, education and medical expenses under the Liberalised Remittance Scheme. (ANI)
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