New Delhi: On the auspicious occasion of Magha Purnima, Finance Minister Nirmala Sitharaman presented the Union Budget 2026–27 in the Lok Sabha, highlighting India’s 7% growth rate and emphasising a vision for a ‘Viksit Bharat’. The Budget prioritises technology, healthcare, and industrial development, with major allocations aimed at strengthening these sectors and ensuring inclusive growth.
The Budget unveiled the second phase of the Semiconductor Mission with ₹40,000 crore to position India as a global chip hub. In the pharmaceutical sector, a new ₹10,000-crore scheme was announced to promote research and manufacturing, including the establishment of three new biopharma units and the expansion of seven existing ones, signalling a strong push towards self-reliant and globally competitive industries.
Special programmes were announced for mineral exploration in Andhra Pradesh, Kerala, and Odisha. Additionally, three new chemical parks are set to be established nationwide, and the jute sector will undergo modernisation to generate substantial employment opportunities, reflecting the government’s focus on resource-based and industrial development.
Sitharaman said the Budget was guided by three key pillars: inclusive economic growth, participatory development from citizens to industrialists, and ‘Sabka Saath, Sabka Vikas’ through reform-driven comprehensive development. She highlighted robust economic management, citing ₹1.93 lakh crore GST collections in January, controlled inflation, and reduced dependence on exports, reinforcing India’s path towards self-reliance and sustainable growth.