Finance Minister Nirmala Sitharaman revealed a Rs 10,000 crore allocation for the Bio Pharma Shakti scheme aimed at enhancing India’s position as a global bio-pharma center. This initiative focuses on biologics and biosimilar drugs to combat non-communicable diseases like diabetes. Additionally, the government plans to train 1 lakh Allied Health Professionals in various disciplines over the next five years.
Sitharaman also proposed the creation of 1.5 lakh caregivers for geriatric and NSQF-aligned programs and the establishment of more emergency and trauma centers nationwide. Furthermore, she announced plans to develop mental health institutions modeled after NIMHANS.
In her Budget 2026-27 presentation, the Finance Minister highlighted the government’s commitment to fiscal discipline and sustained economic growth under the leadership of Prime Minister Narendra Modi. She outlined interventions in key sectors such as manufacturing, strategic sectors, healthcare, and advanced technology in the upcoming fiscal year.
Among the proposed measures are initiatives to boost manufacturing in strategic and frontier sectors and the development of city economic regions. Sitharaman emphasized the government’s focus on comprehensive reforms to drive employment, enhance productivity, and stimulate growth. She stated that over 350 reforms have been implemented, reflecting India’s progress towards a balanced and inclusive development model.
The Union Budget, crafted at Kartivya Bhavan, is guided by three core duties, according to Sitharaman. These duties include sustaining economic growth, meeting people’s aspirations, and ensuring equitable access to resources for all families, communities, and regions.
