Union Budget 2026-27: LIVE

FM announces for a dedicated Initiative for sports goods to promote manufacturing, research and innovation in equipment design as well as material sciences

Integrated Program for labour intensive textile sector:

She proposed a program for labour intensive textile sector with five subparts:

• The National Fibre Scheme for self-reliance in natural fibres, such as silk, wool and jute, man-made fibres and new age fibres.
• Textile expansion and employment scheme 
• The National Handloom and Handicraft Program (To integrate and strengthen existing schemes)
• Text-eco initiative 
• Samarth 2.0
• Setting up of mega textile parks 
• Launch the Mahatma Gandhi Gram Swaraj Initiative

The Finance Ministry also proposes a scheme for container manufacturing with allocation of Rs. 10,000 crore over 5 years to create a globally competitive container manufacturing ecosystem.  

FM announced the introduction of a scheme for enhancement of construction and infrastructure equipments to strengthen domestic manufacturing production of high-value CIE. This will range from lifts in multi-storied apartments or fire fighting equipment in multiplexes and to tunnel boring equipment for building metros and high altitude roads. 

Towards building strong capital goods capability, FM proposed establishment of high tech tool rooms by Central Public Sector Enterprises at two locations. 

Three dedicated chemical parks 

FM proposed new scheme to support states in establishing three dedicated chemical parks through challenged routes on a cluster based plug-and-play model. 

Scheme for rare earth permanent magnets 

First launched in November 2025, Govt propose to support the mineral rich states of Odisha, Kerala, Andhra Pradesh and Tamil Nadu to establish dedicated are earth corridors, to promote mining, processing, research and manufacturing. 

India Semiconductor Mission 2.0

Building on India Semiconductor Mission 1.0, GOI will launch ISM 2.0 to produce equipment and materials, design full-stack Indian IT and fortify supply chains. 

It will also focus on industry led research and training centres to develop technology and skilled workforce. 

FM also proposed to increase the outlay for Electronics Components Manufacturing Scheme (launched in April 2025) to Rs. 40,000 crore from Rs 22, 919 crore.

Biopharma Shakti: Biopharma Strategy for Health Advancement through knowledge, technology and innovation

India's disease burden is shifting towards non-communicable diseases such as diabetes, cancer and autoimmune disorders. To develop India's global biopharma manufacturing hub, she proposed the outlay of Biopharma Shakti with an outlay of 10,000 Crores over the next five years. 

The strategy will include:

• Biopharma focused network with three new national institutes of pharmaceutical education and research. Along with it, it will upgrade the seven exiting ones.
• create a network of 1000 accredited India clinical trial sites
• To strengthen the central drug standard control organisation 

Under the first Kartavya, that is, "Accelerate and sustain economic growth", she proposed intervention in six different areas:

• Scaling up manufacturing in seven strategic and frontier sectors
• Rejuvenating legacy industrial sectors
• Creating champion MSMEs
• Delivering a powerful push for infrastructure
• Ensuring long-term security and stability
• Developing city-economic regions