PM says Budget to give new impetus to reforms

The PM said the Budget provisions were meant to promote trust-based governance. "It aims at fiscal deficit reduction, inflation control and yet makes historic capex allocations to ensure a high growth momentum," said Modi.

Calling the Budget "historic", the PM said India was not satisfied by just being the fastest growing major economy but aimed to become the third largest soon.

"India's role in the world is expanding as a trusted democratic partner and a trusted quality supplier. This Budget powers that further and also presents an ambitious road map for a self-reliant India," he said.

To drive home his point, the PM made specific references to "unprecedented allocations for sunrise industries", including biopharma mission, Semiconductor Mission-2, electronics component manufacturing scheme, rare earth mineral corridors, the critical mineral and textile push and champion MSMEs.

"The Budget will help Indian MSMEs go global from local. It makes a massive infrastructure push with dedicated freight corridors, waterways, rail corridors and economic strength to tier-2 and 3 cities," Modi said, adding that the Budget provisions would help create leaders and innovators.

The PM also said the Budget mirrored women's power and was inspired by the youthful energy of India.

"This is a 'yuva shakti' Budget and has the thought, power, pledge and speed of the youth," Modi said.