New Delhi : Union Finance Minister Nirmala Sitharaman presented Union Budget FY 2026-27 of Rs 53.5 Lac Cr in the Lok Sabha and outlined the theme of three Kartavyas of the Narendra Modi govt. Union Budget 2026-27 outlines India’s economic priorities for the coming financial year, with a focus on growth, stability and inclusive development. She said that India will continue to take steps towards ViksitBharat, balancing ambition with inclusion as a growing economy with expanding trade and capital needs. India must become deeply integrated with global markets, exporting more and attracting stable, long-term investment.
Union Finance Minister said that “our aim is to transform aspiration into achievement and potential into performance, as we ensure that the dividends of growth reach every farmer, the scheduled caste, the scheduled tribes, the nomads, the youth, the poor and the women.”
Nirmala Sitharaman said that keeping atmanirbharta as a lodestar, we have built domestic manufacturing capacity, energy security and reduced critical import dependencies. Simultaneously, we have ensured that citizens benefit from every action of the Government, undertaking reforms to support employment generation, agricultural productivity, household purchasing power universal services to people. She said that these measures have delivered a high growth rate of around 7% and helped us make substantial strides in poverty reduction and improvement in the lives of our people.
To develop India as a global Biopharma manufacturing hub, Union Finance Minister proposed the Biopharma SHAKTI with an outlay of ₹ 10,000 crores over the next 5 years. This will build the ecosystem for domestic production of biologics and biosimilars.
The Union Finance Minister proposed an outlay of ₹20,000 crore over the next 5 years in Carbon Capture Utilization and Storage (CCUS) technologies to scale up and achieve higher readiness levels in end-use applications across.
The Union Finance Minister proposed to set up a High-Powered ‘Education to Employment and Enterprise’ Standing Committee to recommend measures that focus on the Services Sector as a core driver of Viksit Bharat.
She said that this will make us a global leader in services, with a 🔟% global share by 2047. The Committee will prioritise areas to optimise the potential for growth, employment and exports. They will also assess the impact of emerging technologies, including #AI, on jobs and skill requirements and propose measures thereof.
She said that India’s Animation, Visual Effects, Gaming and Comics #AVGC sector is a growing industry, projected to require 2 million professionals by 2030. The Minister proposed to support the Indian Institute of Creative Technologies, Mumbai in setting up AVGC Content Creator Labs in 15,000 secondary schools and 500 colleges.
Union Finance Minister Nirmala Sitharaman proposed multiple steps in towards setting up new institutes, University townships, girls hostel and telescope infrastructure facilities in investment in higher education sector.
She said that the Sports Sector provides multiple means of employment, skilling and job opportunities. Taking forward the systematic nurturing of sports talent which is set in motion through the Khelo India programme, the Finance Minister proposed to launch a Khelo India Mission to transform the Sports sector over the next decade.
Union Finance Minister proposed multiples proposals for farmers, animal husbandry, veterinary professionals, especially for women-led rural enterprises.
The Union Minister said that strong capital goods capability is a determinant of productivity and quality across different sectors. Towards building this capacity, She proposed the following:
-High-tech tool rooms will be established by central public sector enterprises at two locations as digitally enabled automated service bureaus that locally design, test, and manufacture high-precision components at scale and at lower cost.
-A scheme for the enhancement of construction and infrastructure equipment will be introduced to strengthen domestic manufacturing of high-value and technologically advanced CIE. This can range from lifts in a multi-storied apartment or fire-fighting equipment in multiplexes, large or small, and to tunnel boring equipment for building metros and high-altitude roads.
She also proposed a scheme for container manufacturing to create a globally competitive container manufacturing ecosystem with a budgetary allocation of 10,000 crores over five-years.
The Union Finance Minister said that the government has undertaken comprehensive reforms towards creating employment, boosting productivity & accelerating growth. Over 350 reforms have been rolled out since Independence Day 2025.
She proposed interventions in six areas:
- Scaling up manufacturing in seven strategic and frontier sectors
- Rejuvenating legacy industrial sectors
- Creating Champion MSMEs
- Developing a powerful push for infrastructure
- Ensuring long-term security and stability
- Developing City economic regions
For the labor intensive textile sector, The Finance Minister proposed an integrated program with five sub parts :
-National Fibre Scheme
-Textile Expansion and Employment Scheme
-National Handloom and Handicraft Programme
-Text-ECON Initiative
-SAMARTH 2.0
To scale up manufacturing in strategic and frontier sectors, the Union Finance Minister proposed to launch :
-Biopharma SHAKTI
-India Semiconductor Mission (ISM) 2.0
-Electronics Components Manufacturing Scheme
-Dedicated Rare Earth Corridors in Odisha, Kerala, Andhra Pradesh and Tamil Nadu
-3 dedicated Chemical Parks
-Scheme to revive 200 legacy industrial clusters
Several initiatives by the Government for large-scale enhancement of public infrastructure, the Government will continue to focus on developing infrastructure in cities with over 5 lakh population (Tier II and Tier III), which have expanded to become growth centres.
Recognising MSMEs as a vital engine of growth, Union Finance Minister proposed a three pronged approach to help them grow as ‘Champions’:
-Equity support
-Liquidity support
-Professional support
To create a new range of skilled career pathways for our youth, Union Finance Minister proposed interventions in the following sectors :
– Allied Health Professionals (AHPs)
-Care Ecosystem
-Hubs for Medical Value Tourism
-Set up a NIMHANS-2
-Strengthen and increase capacities by 50% in District Hospitals by establishing Emergency and Trauma Care Centres.