Finance Minister Nirmala Sitharaman today presented her ninth consecutive Union Budget, delivering a nearly one-and-a-half-hour speech and breaking a 75-year convention by using Part B to lay out a detailed roadmap for India’s long-term economic vision.
Highlighting the government’s focus on investment-led growth, the Budget for 2026 proposes capital expenditure of ₹12.20 lakh crore. Grants recommended by the Finance Commission to states have been pegged at ₹1.40 lakh crore.
Key sectoral allocations include ₹40,000 crore to boost the semiconductor ecosystem, ₹10,000 crore for small and medium enterprises, and a ₹2,000 crore top-up for the Self-Reliant India Fund. The Budget also earmarks ₹10,000 crore each for the Biopharma Shakti initiative and a new scheme to promote container manufacturing.
In emerging and strategic areas, the government has proposed ₹20,000 crore for Carbon Capture, Utilisation and Storage (CCUS) and ₹5,000 crore for the development of City Economic Regions.
In her address, Sitharaman said India’s economic trajectory over the past 12 years has been defined by stability, fiscal discipline, sustained growth and moderate inflation. She attributed this performance to “conscious choices” made by the government during periods of global uncertainty and disruption.
“Our government, led by Hon’ble Prime Minister Modi, has decisively and consistently chosen action over ambivalence, reform over rhetoric and people over populism,” she said.
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