Union Finance Minister Nirmala Sitharaman launched the Bio-Pharma SHAKTI scheme with an outlay of ₹10,000 crore. "The boost to biopharma and medical devices comes at a crucial moment for capacity expansion and domestic value creation," Sachidanand Upadhyay, managing director & chief executive officer, Lord's Mark Industries Ltd., said. "Coupled with sustained semiconductor and electronics incentives, the Budget lays the groundwork for a robust ecosystem supporting advanced diagnostics, med-tech, and digital health. These interventions strengthen India’s trajectory toward becoming a high-value, innovation-centric global manufacturing hub.”
Budget 2026 Reactions LIVE: PM Modi Hails Union Budget as Historic and Ambitious
"This is a historic budget. It depicts a strong reflection of the nation’s Nari Shakti. As a woman finance minister, Nirmala Sitharaman has created a new record by presenting her ninth consecutive budget,” Modi said.
The Union Budget for 2026–27 was presented by Union Finance Minister Nirmala Sitharaman on Sunday. This marked her ninth consecutive budget presentation, making her second only to former Prime Minister Morarji Desai. The budget launched key schemes, including the Bio-Pharma SHAKTI Mission and India Semiconductor Mission (ISM) 2.0. The budget also maintained fiscal discipline, with the fiscal deficit for FY27 projected at 4.3% of GDP. For the first time, capital expenditure is projected to be slightly higher than the fiscal deficit, at 4.4%.
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Budget 2026 Reactions LIVE: Budget Pushes Biopharma, Semiconductors to Strengthen High-Value Manufacturing
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Budget 2026 Reactions LIVE: Budget Laid Road Map for Viksit Bharat Says PM Modi
Prime Minister Narendra Modi hails Union Budget 2026 as historic and ambitious, outlining a road map for Viksit Bharat 2047 with a focus on growth, fiscal discipline, and higher capital spending.
“This budget is the highway for immense opportunities. It gives shape to the dreams of the present and strengthens the foundation of Bharat’s bright future. It is a strong base for our soaring flight towards a developed India,” Modi said.
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