File photo of Prime Minister Narendra Modi.
| Photo Credit: PTI
Prime Minister Narendra Modi on Sunday (February 15, 2026) said that Budget 2026 reflects India’s yearning to become a “developed nation”.
In an interview to PTI, Mr. Modi said,. “Budget not a ‘now or never’ moment born out of compulsion but a ‘we are ready’ moment born out of preparation, inspiration.”
On the spate of trade deals India has signed, the Prime Minister said that “political stability, political predictability restored investor confidence in India.”
He touched upon the Free Trade Agreements with 38 nations and said, “Stronger manufacturing, services, MSMEs enable India to negotiate trade pacts from a position of strength.”
The Opposition has been critical of the trade pact with the U.S., with Leader of Opposition in the Lok Sabha terming it a “betrayal” of farmers. However, the Prime Minister said that the “FTAs (are) designed to expand market access for MSMEs in textile, leather, chemicals, handicrafts, gems and other sectors.”
Despite the decision to import 114 Rafale jets from France, the government has been pushing for self-reliance in the defence sector. Mr. Modi said the “government will do whatever it takes to support the country’s defence forces and strengthen them.”
Referring to the jump in defence Budget, the Prime Minister said, “The government has a duty to modernise defence sector in line with current realities.”
The Prime Minister also slammed UPA-era “economic mismanagement“ which left India unable to negotiate from a position of confidence. “During UPA rule, talks would begin and then breakdown, a little real substance achieved despite long negotiations,” he said.
Mr. Modi said that reform is the “commitment of the government, something it has shown in letter and spirit.”
The Prime Minister highlighted the role of the private sector in bettering the economy. “Private sector critical for next phase of economic transformation,” he said, adding that there should be a “decisive response from them”.
Published – February 15, 2026 06:22 pm IST
