NEW DELHI, Feb 7: The Union Budget provides the direction for a “sustained, fast and inclusive growth” with increased focus on continuity in economic approach and skilling, according to Niti Aayog Member Arvind Virmani.
Virmani emphasised that going forward, skilling and services would transform the country as they can generate jobs.
On February 1, Finance Minister Nirmala Sitharaman announced measures to boost manufacturing, offered long-term tax incentives for global data centres, and support for agriculture and tourism as she unveiled a Rs 53.5 lakh crore Union Budget for 2026-27, seen as a long-term blueprint for sustaining growth amid rising global risks.
Shunning populist measures despite five key states, including West Bengal and Tamil Nadu, heading to polls, the Budget signalled continued fiscal consolidation and infrastructure spending.
Discussing about the proposals, Virmani said, “from my perspective, I have a simple one line thing. That is, we have to have sustained, fast and inclusive growth,” and added that the Budget provides the direction with continuity.
In an interview to PTI Videos, he said there is a lot of stress on skilling, which in particular will help the middle class in the medium term.
He also said that India entering into Free Trade Agreements (FTAs) is expected to create significant opportunities.
“The services, the skilling thing… those are all going to promote the middle class in the medium term, over a five to ten-year period.
“The FTAs which are being signed, huge opportunities are going to come… I would say that’s what people should be looking at, opportunities,” he said.
Highlighting the importance of services, Virmani said that for the first time a services division has been set up at Niti Aayog.
“… you can have low skill services, medium skills, high skill, everybody knows IT… But middle skill, electricians, I always like to give the example of plumbers and electricians, because there is a huge gap in India, there is a gap across the world. So skill for India, skill for the world,” he added. (PTI)
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