Raipur, Feb 8 (PTI) Hailing the Budget 2026-27 as a 25-year "vision document," Union Minister Manohar Lal Khattar Sunday said the exemption of customs duty on rare minerals is expected to boost Chhattisgarh's mining and industrial sectors, strengthen investment prospects and economic activity in the state.

Addressing a press conference here on the Budget 2026-27, Khattar said the document has been framed around three key duties aimed at strengthening the nation economically and socially.

He said that the budget should be viewed not merely as an annual financial statement but as a "vision document" that will guide the country's development over the next 25 years.

It presents a clear vision for a developed India by 2047, he said.

Khattar, who handles the portfolios of power, housing and urban affairs, said the budget has accepted the recommendations of the 16th Finance Commission, which will provide direction for development over the next five years.

Explaining the three focus areas, he said that the first relates to India's economic position in the global context and the goal of becoming the third-largest economy in the world, surpassing Germany.

The second focus is on infrastructure development, industrial expansion and employment generation within the country, and the third emphasises inclusive growth by supporting deserving sections of society, including the poor, women and the underprivileged, the Union minister said.

Khattar said, "The exemption of customs duty on minerals, especially rare ones, is expected to boost Chhattisgarh's mining and industrial sectors." He further pointed out that since 2014, national highway development has been prioritised in the state, with over 3,400 km of roads constructed.

Under the Bharatmala Pariyojana, more than 571 km of national highway corridors have been approved to improve connectivity in the state, he said.

Moreover, air connectivity has been strengthened in Chhattisgarh under the UDAN scheme, with the launch of flights from Jagdalpur, Bilaspur and Ambikapur, and Raipur's Swami Vivekananda Airport has been included under the Krishi Udan scheme to facilitate faster transportation of agricultural produce.

Chhattisgarh has received a historic allocation of Rs 7,470 crore for railway development in the Union budget, which will significantly enhance rail connectivity and capacity in the state, he said.

Expressing confidence in the budget's objectives, Khattar said India would witness unprecedented progress in power, infrastructure and urban development sectors, calling the budget a strong step towards inclusive growth.

He pointed out that India's foreign trade agreements (FTAs) have been increasing with countries around the world.

Khattar said PM Narendra Modi has resolved the trade agreement with the US, which had been stalled for six months, "very smoothly, silently and diplomatically".

Everyone in the country is happy about it. People around the world are also surprised, he said.

"Earlier, people would comment about India, saying things like 'their ship has sunk' or 'their bus has broken down'. They used all sorts of expressions. Today, many countries around the world want to get on India's bus (want to be partners in India's growth story). This has also given a great boost to our economy," he added. PTI TKP ARU