Government is moving forward in mission mode towards comprehensive development, be it geographically, socially, or economically: PM
PM highlights the importance of reform, perform, and transform in achieving rapid development
State and Central governments must work together to perform, public participation will lead to transformation: PM
The next 25 years will be dedicated to achieving a prosperous and developed India: PM

Friends,

Today, at the beginning of the budget session, I bow to Goddess Lakshmi, the goddess of prosperity. And on such occasions, for centuries, we have been remembering the virtues of Goddess Lakshmi:

सिद्धिबुद्धिप्रदे देवि भुक्तिमुक्तिप्रदायिनि। मंत्रपूते सदा देवि महालक्ष्मि नमोस्तुते।

Maa Lakshmi gives us success and wisdom, prosperity and well-being. I pray to Maa Lakshmi that every poor and middle class community of the country should be blessed with the special blessings of Maa Lakshmi.

Friends,

Our Republic has completed 75 years, and this is a matter of great pride for every citizen of the country, and this strength of India also creates a special place for itself in the democratic world.

Friends,

The people of the country have given me this responsibility for the third time, and this is the first full budget of this third term, and I can confidently say that in 2047 when the country will celebrate 100 years of independence, the resolution of a developed India that the country has taken, this budget session, this budget will create a new confidence, will give a new energy, that when the country celebrates 100 years of independence, it will be developed. 140 crore countrymen will fulfill this resolution with their collective efforts. In the third term, we are moving ahead in mission mode towards all-round development of the country, whether it is geographically, socially or in the context of different economic levels. We are moving ahead in mission mode with the resolution of all-round development. Innovation, inclusion and investment have constantly been the basis of the roadmap of our economic activity.

As always, this session will have many historic days. Tomorrow there will be discussions in the House and after a lot of deliberation, laws will be made that will increase the strength of the nation. Especially, to re-establish the pride of Nari Shakti, to ensure that every woman gets a respectable life without any discrimination of caste and creed and gets equal rights, many important decisions will be taken in this session in that direction. Reform, Perform and Transform. When we have to achieve a fast pace of development, the maximum emphasis is on reform. The state and central governments have to perform together and we can see transformation with public participation.

Ours is a young country, a youthful power and the youth who are 20-25 years old today, when they turn 45-50 years old, they will be the biggest beneficiaries of a developed India. They will be at that stage of their life, they will be sitting in that position in the policy making system, that they will proudly move forward with a developed India in the century that will begin after independence. And hence this effort to fulfill the resolution of a developed India, this immense hard work, is going to be a great gift for our teenagers, our young generation today.

Those who had joined the freedom struggle in 1930, 1942, the young generation of the entire country was spent in the freedom struggle, and its fruits were reaped by the generation that came after 25 years. The youth who were in that war got those benefits. Those 25 years before independence became an opportunity to celebrate independence. Similarly, these 25 years are the intention of the countrymen to achieve a prosperous and developed India through their resolve and reach the pinnacle through their achievements. And therefore, in this budget session, all the MPs will contribute towards strengthening developed India. Especially, it is a golden opportunity for the young MPs because the more awareness and participation they will have in the House today, the more fruits of developed India they will see right in front of their eyes. And therefore, it is a priceless opportunity for the young MPs.

Friends,

I hope that we will live up to the hopes and aspirations of the country in this Budget session.

Friends,

Today you must have noticed one thing, people in the media should definitely notice it. Perhaps since 2014, this is the first session of Parliament in which there has been no foreign spark a day or two before the session, there has been no attempt to ignite a fire from abroad. I have been observing for 10 years, since 2014, that before every session people used to sit ready to create mischief, and here there is no dearth of people who fan it. This is the first session I am seeing after the last 10 years in which there was no spark from any foreign corner.

Thank you very much, friends.

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List of Outcomes: Prime Minister’s Visit to the UAE
May 15, 2026

S.No.

MoU/Agreement

Objectives

1.

MoU on Strategic Collaboration between Indian Strategic Petroleum Reserves Limited (ISPRL) and Abu Dhabi National Oil Company (ADNOC)

(a) Potential ADNOC crude oil storage in India’s Strategic Petroleum Reserves upto 30 million barrels, including through its participation in facilities in Vishakhapatnam, Andhra Pradesh; and development of reserve facilities in Chandikol, Odisha.

(b) Potential storage of crude oil in Fujairah, UAE, to form part of the Indian strategic petroleum reserve;

(c) Potential collaboration in Liquid Natural Gas and Liquid Petroleum Gas storage facilities in India

2.

Strategic Collaboration Agreement between Indian Oil Limited (IOCL) Company and Abu Dhabi National Oil Company (ADNOC) on supplies of Liquified Petroleum gas (LPG)

Explore potential opportunities in the sale and purchase of LPG, including long term supply of LPG, and entry into a long-term LPG sale and purchase agreement between ADNOC Gas Limited and IOCL.

3.

Framework for the Strategic Defence Partnership

A Strategic Framework for Defence Industrial collaboration, innovation and advanced technology, training, exercises, education and doctrine, special operations and interoperability, maritime security, cyber defence, secure communications and information exchange.

4.

MoU between Cochin Shipyard Limited (CSL) and Drydocks World (DDW) on setting up Ship Repair Cluster at Vadinar

 

Cooperation for setting up a Ship Repair Cluster at Vadinar, including offshore fabrication, under the Maritime Development Fund Scheme launched by the Government of India.

5.

MoU between Cochin Shipyard Limited (CSL), Drydocks World (DDW) and Centre of Excellence in Maritime & Shipbuilding (CEMS) on Skill Development in Ship Repair

The tripartite agreement establishes a framework to mobilize, train and employ skilled maritime workforce. The MoU seeks to enhance capabilities of Indian maritime workforce and position India as a hub for skilled shipbuilding and ship repair professionals.

6.

Term Sheet for setting up 8 Exaflop Super Computing Cluster in partnership between CDAC, India and G-42, UAE

 

Pave the way for collaboration between CDAC and G-42 to set up super computing cluster as part of AI Mission India.

Announcement

7.

Investment from UAE to India

(i) Abu Dhabi Investment Authority (ADIA) and National Infrastructure & Investment Fund (NIIF) of India to explore investments upto US$ 1 bn in India’s infrastructure sector.

(ii) Emirates New Development Bank (ENBD) to invest US$ 3 billion in RBL BANK of India

(iii) International Holding Company to invest US$ 1 billion in Sammaan Capital of India.