Union Finance Minister Nirmala Sitharaman on Tuesday outlined the strategic vision of the Union Budget 2026–27 before the Central Board of Directors of the Reserve Bank of India, stressing that the roadmap to Viksit Bharat rests on the framework of the “three Kartavyas.”
Addressing the Board after its deliberations, she underscored the government’s expectation that the financial sector will play a pivotal role in driving sustainable growth, ensuring macroeconomic stability and promoting inclusive development.
The Minister emphasized that the Budget seeks to balance fiscal prudence with growth imperatives, encouraging investment, strengthening infrastructure and accelerating structural reforms. She highlighted the need for robust credit flow to productive sectors, deeper financial inclusion and enhanced regulatory vigilance to safeguard systemic stability in a volatile global environment. Sitharaman also called for close coordination between fiscal and monetary authorities to maintain resilience against external shocks.
The interaction took place during the 621st meeting of the Central Board of the Reserve Bank of India held in New Delhi under the chairmanship of RBI Governor Sanjay Malhotra. The Board undertook a comprehensive review of the global and domestic economic landscape amid rising geopolitical tensions, financial market volatility and uncertainties surrounding global growth.
Members reviewed key macroeconomic indicators including inflation trends, liquidity conditions, capital flows and the strength of India’s banking and financial system. Discussions also focused on reinforcing governance standards, deepening financial markets and leveraging digital innovation to enhance efficiency and transparency across the financial ecosystem.
The Directors appreciated the broad direction of the Union Budget 2026–27 and shared their perspectives on strengthening India’s financial architecture to meet emerging challenges while sustaining growth momentum.
The Finance Minister was accompanied by Minister of State for Finance Pankaj Chaudhary, Secretary, Department of Investment and Public Asset Management Dr. Arunish Chawla, Secretary, Department of Expenditure V. Vualnam, Secretary, Department of Revenue Arvind Shrivastava, and Chief Economic Adviser Dr. V. Anantha Nageswaran.
RBI Deputy Governors T. Rabi Sankar, Swaminathan J., Dr. Poonam Gupta and Shirish Chandra Murmu were present at the meeting. Central Board Directors Nagaraju Maddirala, Anuradha Thakur, Satish K. Marathe, S. Gurumurthy, Revathy Iyer, Prof. Sachin Chaturvedi, Venu Srinivasan, Pankaj Ramanbhai Patel and Dr. Ravindra H. Dholakia also attended.