"Union Budget 2026-27: Pioneering the Paradigm Shift towards Viksit Bharat@2047"

Abstract

The Union Budget 2026-27 is a crucial step towards realising the aim of making India a developed nation by 2047, i.e., Viksit Bharat@2047. By becoming a developed nation, India aims to achieve global presence, greater economic prosperity, and overall improvement in its citizens' well-being.
Objectives: The present study seeks to analyse the strategic provisions of the Union Budget 2026-27 that align with the objectives of Viksit Bharat@2047 and to provide suggestions to the Government of India for achieving the Viksit Bharat@2047 aim.
Methodology: The study uses a qualitative approach to analyse the strategic provisions of the Union Budget 2026-27 towards achieving the Viksit Bharat@2047 aim. The study utilises the Union Budget 2026-27 and various reports on the Union Budget 2026-27 and Viksit Bharat@2047 to obtain a clear view of the provisions of the Union Budget 2026-27 and the pillars or priority areas for achieving the Viksit Bharat@2047 aim.
Results: The study proposed a model for achieving the Viksit Bharat@2047 aim, which the researcher will authenticate in future by taking quantitative data on the key provisions made in the Union Budget 2026-27. According to the researchers, to materialise the goal of Viksit Bharat@2047, with the help of the budget 2026 to government should boost Production-linked localisation, allocate funds to boost basic education infrastructure, work on increasing the tax base, incentivise R&D, tech upgradation, and skill development, and most importantly, improve beneficiary identification to provide benefits to the people who are in need.
Limitations: The study is based on secondary data, does not include any quantitative data, and was conducted within a limited timeframe. Despite these limitations, the study provides valuable insights into the role of the Union Budget in aligning with the long-term vision of Viksit Bharat@2047.