Union Finance Minister Nirmala Sitharaman delivered her ninth consecutive Union Budget speech on Sunday.
Sitharaman said the central government would emphasize accelerating and sustaining economic growth.During his speech, the finance minister said the Center has focused on “reforms on rhetoric”, adding that it has helped the government deliver a 7.2% gross domestic product (GDP) growth rate amid geopolitical crisis.
“India’s economic trajectory has been marked by stability for over 12 years. Stability has been demonstrated amid ongoing uncertainty… The government has prioritized reforms over rhetoric and pursued far-reaching reforms,” Sitharaman said.
For Union Budget 2026, Sitharaman proposed central interventions in six sectors – including manufacturing, strategic and frontier sectors, healthcare and advanced technology.
Sitharaman said the central government will focus on accelerating and sustaining economic growth:
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• Increasing production in seven strategic sectors
• Revival of legacy industrial sector
• Creating Champion MSMEs
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• Provide a push for infra
Ensuring long-term security and stability
• Development of economic zone of the city.
Focus on critical minerals, biopharmaSitharaman highlighted the Centre’s focus on biopharma, critical minerals and semiconductors. The finance minister proposed launching ‘Semiconductor Mission 2.0’, which he said would focus on manufacturing equipment and materials designed for full-stack Indian IP.
Finance Minister also announced ₹10,000 budget outlay for investment in the biopharma sector over the next five years. Besides, Sitharaman also proposed dedicated corridors for rare earths for mining, processing, research and manufacturing. For this, the Finance Minister has announced support to the mineral rich states of Odisha, Kerala, Andhra Pradesh and Tamil Nadu for establishing these important mineral facilities.
