Union Minister Kirti Vardhan Singh and others during press conference in Kohima on February 9. (Morung Photo)
Our Correspondent
Kohima | February 9
Union Minister of State for Environment, Forest & Climate Change and External Affairs, Kirti Vardhan Singh, on Monday highlighted the key provisions of the Union Budget 2026-2027 during a press conference in Kohima.
The press conference was held in the presence of Nagaland Tourism & Higher Education Minister Temjen Imna Along and Nagaland Prisons, Printing & Stationery Advisor Er Kropol Vitsu.
Singh is currently on a visit to Nagaland.
Singh said financing is the most critical component for development. Addressing media persons at the BJP office in Kohima, he stated that India’s economic growth is driven by major reforms implemented in the finance, banking, and labour sectors.
He asserted that reforms in these sectors have contributed to the India’s robust economic growth. Highlighting the country’s resilience during the COVID-19 pandemic, the minister noted that while most developed economies registered negative growth, India's economy continued to grow.
Singh credited this performance to the good governance under the leadership of Prime Minister Narendra Modi.
“The accountability of all those responsible has increased, whether it is officers, ministries, or even ministers,” Singh said.
He attributed this enhanced accountability largely to the widespread use of information and digital technology by the government.
Reiterating that “our economy is growing,” he stressed on the need to put more efforts to make it better and have more development.
On importance of regional cooperation with the like-minded countries to facilitate the developmental activities, Singh said that India has recently made foreign free trade agreements with the European Union. He said that India have made trade agreements with more than 40 countries.
Singh said that India is pursuing a strategy for economic integration with special focus on making “our manufacturing sector more competitive and more efficient.” Singh said that the foreign countries have confidence in India’s economy and have a great respect “for our workforce” as we have the most economically competitive workforce.
He said that India is now on the global centre stage with free trade agreements. Stating that this Union Budget has a long term focus, he said “it should reach down to the village level.”
Describing the Union Budget 2026-27 as the foundation stone for Viksit Bharat, Singh said “It will empower our youth. It will strengthen our industry. It will strengthen our manufacturing centre. It will generate employment.”
Touching on migration and mobility agreement, he said young people who want to work in a certain field, whether they are electricians, plumbers, automotive engineers or anything will now not be difficult for them to find employment in the European Union, Russia.
He said that this time Union Budget is more towards the youth, young people and focused towards generating employment. “One year down the line, two years down the line, you will see, it will help our manufacturing sector grow,” he said adding it will also help the grow of service sector.
Budget also focus on generating entrepreneurs where the young generation gets self-employed, he said. That this budget is formed on the three pillars of our curriculum. The first curriculum is to accelerate and sustain economically by enhancing productivity, enhancing competitiveness and building resilience with what is happening in the world. “We still have to deliver goods and quality goods. So, the first is to accelerate and sustain economically,” he said.
For inclusive growth, he said, every region, every community, every family has to have access to the resources, amenities and opportunities for their participation.
Our pillars of growth are going to be sustaining economic growth, strengthening the foundation of growth, which are manufacturing industries, the skilling of people, our workforce and our young generation, he said.
If we can give our young generation the ability and the quality of education, skill and training, then our economy will grow many times, Singh said adding “ So, that is also the thrust of the budget, to how to skill up.”
He said that there is a further stress on domestic manufacturing of high value technology, advanced construction and infrastructure.
Stating that Government have provided an income tax exemption for five years for any non-registered resident “who provides us capital goods and equipment,” Singh said “Our government is going to provide 200 clusters, so that the manufacturing starts again and employment happens again.”
There is an equity support of 10,000 crores for our small and medium-scale enterprises, he said adding that the government have launched a new self-reliant India fund. That was launched in 2021 and we have got another 2,000 crore this year, he said. He said that the manufacturing units can avail these loans and they can become better in the manufacturing. They can scale up the operations, become more competitive and more quality conscious.
‘Strengthening manufacturing sector, medium & small scale enterprises’
The minister said this budget is focused to strengthening manufacturing sector and strengthening the medium and small scale enterprises. He said the growth is not just limited to certain areas or pockets but it is inclusive growth in nature where people in the villages can also avail the this opportunity by getting the right kind of education, the right kind of training and the right kind of skill.
He also stressed on the need to train the young people “so that they can perform better in the service sector.”
For this, he said, the Union Budget proposes to set up a High-Powered 'Education to Employment and Enterprise' Standing Committee.
Stating that the government will be training 1.5 lakh people in essential care services like nursing, he said “We are also making five hubs for medical tourism.”
For comfortable stay and security of girls, he said that the government has decided to set up a girls' hostel for higher education in every district.
“Every district headquarters will have a girls' hostel for higher education,” he said.
Singh said that the government is going to set up a National Institute of Hospitality to train the young people in the hospitality sector.
The whole focus is on skilling our youth in various fields, he asserted.
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