The Union Budget 2026–2027, according to Finance Minister Nirmala Sitharaman on Sunday, is intended to boost economic growth and increase employment across industries. “The Budget focuses on building an ecosystem with structural reforms to improve productivity and create an environment that ensures employment generation across sectors,” the Finance Minister told reporters following the budget’s release. It is intended to sustain economic expansion in order to keep growth momentum.
According to her, the government’s desire for a tech-driven and inclusive economic framework is reflected in the focus on development, reforms, and job creation. The Finance Minister explained the specifics of her primary recommendations, emphasizing that the Rs 10,000 crore budgetary allocation for the biopharma sector is intended to guarantee India’s continued dominance in the world biopharma market. “The budget’s proposal to invest Rs 10,000 crore in the biopharma sector over the next five years ensures India maintains its lead in the sector,” she said.
The Finance Minister added that health has been given similar weight in this year’s budget, with a focus on mental health in particular. With a substantial increase in funding for the Ministry of Health & Family Welfare to Rs 1,06,530.42 crore—nearly 10% more than the Revised Estimates of FY 2025–2026—the Budget represents an important turning point in the government’s ongoing efforts to improve India’s healthcare system.
One lakh Allied Health Professionals (AHPs) in ten disciplines, such as radiography, anesthesia, and optometry, will be appointed over the next five years as part of her proposed budget. In addition, more trauma and emergency centers as well as mental health facilities like NIMHANS are to be established.
Additionally, Sitharaman declared that up to 1.5 lakh caregivers would be hired nationwide for NSQF-aligned and geriatric programs. She also voiced confidence regarding the budget’s proposal for India’s new rare earth corridors. To support her argument, she used the development of the current defense corridors as an example of success.
She added that this budget, coupled with “Sabka Saath, Sabka Vikas,” is the first in the second quarter of the century and advances the goal of the country becoming developed by 2047.
Finance Minister Sitharaman joked, “The government faces criticism either way,” when asked why states with impending elections, like as West Bengal, Kerala, and Tamil Nadu, were not given special attention in the Union Budget 2026–2027.
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