Budget 2026: NITI Aayog CEO Calls it a 'Services Budget' Targeting 10% Global Output
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Moneycontrol•01-02-2026, 15:53
Budget 2026: NITI Aayog CEO Calls it a 'Services Budget' Targeting 10% Global Output
- •NITI Aayog CEO B.V.R. Subrahmanyam labels Budget 2026 a 'services budget' aimed at achieving 'Viksit Bharat' and 10% global services output.
- •Key initiatives include a high-level standing committee on services, five medical hubs for tourism, five 'university cities' for education, and a push for Ayush and the 'orange economy'.
- •Manufacturing remains a priority with an expanded electronic component scheme (₹25,000 cr to ₹40,000 cr) and focus on labor-intensive sectors.
- •Taxation focuses on 'tinkering' to remove pain points, expanding 'safe harbor' rules for GCCs, and reviewing foreign exchange debt borrowing rules.
- •Infrastructure development includes 'City Economic Regions' with a ₹5,000 crore fund, a new East-West dedicated freight corridor (Dankuni to Surat), and seven high-speed rail corridors.
Why It Matters: Budget 2026 prioritizes the services sector, aiming for 10% global output, while continuing manufacturing and infra push.
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