India will spend a record amount on infrastructure and defense, the finance minister said in her national budget speech on Sunday, with plans for high-speed rail, submarines and fighter jets. New Delhi plans to spend $133 billion on infrastructure and $85 billion on defense, a respective rise of around nine and 15% compared to last year’s budget. Defense minister Rajnath Singh described the spending as “unprecedented” and said it would help equip India’s armed forces with fighter jets, drones, ships, submarines and other critical hardware. The world’s most populous country sees massive infrastructure spending as key to sustaining its high growth rate by boosting domestic manufacturing and creating millions of new jobs. “India is not content with simply being the fastest-growing economy,” Prime Minister Narendra Modi said after the budget.

Source: Dhaka Tribune February 01, 2026 17:15 UTC