“Viksit Bharat Budget guarantees to strengthen the foundation of a developed India”
“This budget carries the confidence of continuity”
“This budget is a reflection of the aspirations of Young India”
“We set a big goal, achieved it, and then set an even bigger goal for ourselves”
“Budget focuses on empowering the poor and middle-class”

My dear countrymen,

Today's Budget, though an Interim Budget, is an inclusive and innovative Budget. This Budget carries the confidence of continuity. This Budget will empower all four pillars of ‘Viksit Bharat’ -- youth, the poor, women, and farmers. Nirmala ji's Budget is a Budget for building the future of the country. This Budget carries the guarantee of strengthening the foundation of ‘Viksit Bharat’ by 2047. I congratulate Nirmala ji and her team wholeheartedly.

Friends,

This Budget reflects Bharat’s young aspirations. Two important decisions have been taken in the Budget. A fund of Rs. 1 lakh crore has been announced for research and innovation. There has also been an announcement in the Budget to expand the tax exemption for start-ups.

Friends,

While keeping the fiscal deficit under control in this Budget, a historic high of Rs. 11 lakh 11 thousand 111 crore has been allocated for capital expenditure. In the language of economists, this is somewhat of a sweet spot. This will not only lead to the construction of 21st-century modern infrastructure in Bharat, but also create countless new opportunities for employment for the youth. In the Budget, it has been announced to manufacture 40,000 modern coaches under the 'Vande Bharat Standard' and induct them in regular passenger trains. This will enhance the experience of comfortable travel for millions of passengers on different railway routes across the country.

Friends,

We set a big goal, achieve it, and then set an even bigger goal for ourselves. We have built more than 4 crore houses for the poor in villages and cities. Now we have set a goal of building 2 crore more new houses. Our initial goal was to make 2 crore women 'Lakhpati Didis'. Now, this goal has been increased to making 3 crore ‘Lakhpati Didis’. The Ayushman Bharat scheme has greatly helped the poor. Now, Anganwadi and ASHA workers will also benefit from this scheme.

Friends,

In this Budget, significant emphasis has been placed on empowering the poor and middle class, creating new income opportunities for them. Under the Rooftop Solar campaign, one crore families will receive free electricity through solar rooftop panels. Not only this, people will also earn an additional income of 15 to 20 thousand rupees annually by selling surplus electricity to the government. This income will be available to every family.

Friends,

The announcement of the income tax remission scheme today will provide significant relief to nearly one crore middle-class individuals. Previous governments had burdened the common man with a heavy sword hanging over their heads for decades. Today, crucial and significant decisions have also been made for the farmers in this Budget. Whether it's the use of Nano DAP, a new scheme for livestock, expansion of the PM Matsya Sampada Yojana, or the Aatmanirbhar Oil Seed Abhiyan, farmers' income will increase, and there will be considerable reduction in expenses. Once again, I extend my best wishes to all citizens for this historic Budget. Thank you very much.

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List of Outcomes: Visit of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of UAE to India
January 19, 2026
S.NoAgreements / MoUs / LoIsObjectives

1

Letter of Intent on Investment Cooperation between the Government of Gujarat, Republic of India and the Ministry of Investment of the United Arab Emirates for Development of Dholera Special Investment region

To pursue investment cooperation for UAE partnership in development of the Special Investment Region in Dholera, Gujarat. The envisioned partnership would include the development of key strategic infrastructure, including an international airport, a pilot training school, a maintenance, repair and overhaul (MRO) facility, a greenfield port, a smart urban township, railway connectivity, and energy infrastructure.

2

Letter of Intent between the Indian National Space Promotion and Authorisation Centre (IN-SPACe) of India and the Space Agency of the United Arab Emirates for a Joint Initiative to Enable Space Industry Development and Commercial Collaboration

To pursue India-UAE partnership in developing joint infrastructure for space and commercialization, including launch complexes, manufacturing and technology zones, incubation centre and accelerator for space start-ups, training institute and exchange programmes.

3

Letter of Intent between the Republic of India and the United Arab Emirates on the Strategic Defence Partnership

Work together to establish Strategic Defence Partnership Framework Agreement and expand defence cooperation across a number of areas, including defence industrial collaboration, defence innovation and advanced technology, training, education and doctrine, special operations and interoperability, cyber space, counter terrorism.

4

Sales & Purchase Agreement (SPA) between Hindustan Petroleum Corporation Limited, (HPCL) and the Abu Dhabi National Oil Company Gas (ADNOC Gas)

The long-term Agreement provides for purchase of 0.5 MMPTA LNG by HPCL from ADNOC Gas over a period of 10 years starting from 2028.

5

MoU on Food Safety and Technical requirements between Agricultural and Processed Food Products Export Development Authority (APEDA), Ministry of Commerce and Industry of India, and the Ministry of Climate Change and Environment of the United Arab Emirates.

The MoU provides for sanitary and quality parameters to facilitate the trade, exchange, promotion of cooperation in the food sector, and to encourage rice, food products and other agricultural products exports from India to UAE. It will benefit the farmers from India and contribute to food security of the UAE.

S.NoAnnouncementsObjective

6

Establishment of a supercomputing cluster in India.

It has been agreed in principle that C-DAC India and G-42 company of the UAE will collaborate to set up a supercomputing cluster in India. The initiative will be part of the AI India Mission and once established the facility be available to private and public sector for research, application development and commercial use.

7

Double bilateral Trade to US$ 200 billion by 2032

The two sides agreed to double bilateral trade to over US$ 200 billion by 2032. The focus will also be on linking MSME industries on both sides and promote new markets through initiatives like Bharat Mart, Virtual Trade Corridor and Bharat-Africa Setu.

8

Promote bilateral Civil Nuclear Cooperation

To capitalise on the new opportunities created by the Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) Act 2025, it was agreed to develop a partnership in advance nuclear technologies, including development and deployment of large nuclear reactors and Small Modular Reactors (SMRs) and cooperation in advance reactor systems, nuclear power plant operations and maintenance, and Nuclear Safety.

9

Setting up of offices and operations of UAE companies –First Abu Dhabi Bank (FAB) and DP World in the GIFT City in Gujarat

The First Abu Dhabi Bank will have a branch in GIFT that will promote trade and investment ties. DP World will have operations from the GIFT City, including for leasing of ships for its global operations.

10

Explore Establishment of ‘Digital/ Data Embassies’

It has been agreed that both sides would explore the possibility of setting up Digital Embassies under mutually recognised sovereignty arrangements.

11

Establishment of a ‘House of India’ in Abu Dhabi

It has been agreed in Principle that India and UAE will cooperate on a flagship project to establish a cultural space consisting of, among others, a museum of Indian art, heritage and archaeology in Abu Dhabi.

12

Promotion of Youth Exchanges

It has been agreed in principle to work towards arranging visits of a group of youth delegates from either country to foster deeper understanding, academic and research collaboration, and cultural bonds between the future generations.