New Delhi, Feb 1: Finance Minister Nirmala Sitharaman on Sunday said the Union Budget 2026-27 has been crafted to accelerate economic growth and generate employment across sectors by building a strong ecosystem of structural reforms and productivity enhancement.
Addressing journalists after presenting the Budget in Parliament, Sitharaman said the focus is on sustaining growth momentum through continuous economic expansion. “The Budget focuses on building an ecosystem with structural reforms to improve productivity and create an environment that ensures employment generation across sectors,” she said, adding that the government remains committed to a tech-driven and inclusive growth framework.
Explaining key proposals, the Finance Minister highlighted the ₹10,000 crore outlay for the biopharma sector, spread over the next five years, aimed at strengthening India’s leadership in the global biopharma industry. “The proposed investment will ensure that India maintains its lead in this critical sector,” she noted.
Health has also been accorded significant priority in the Budget, with special emphasis on mental healthcare. The allocation for the Ministry of Health and Family Welfare has been increased to ₹1,06,530.42 crore, marking a nearly 10 per cent rise over the Revised Estimates for FY 2025-26. The Budget proposes the creation of 1 lakh Allied Health Professionals in 10 disciplines, including optometry, radiology and anaesthesia, over the next five years.
In addition, the government plans to set up more emergency and trauma care centres and expand mental health institutions such as NIMHANS. Sitharaman also announced the creation of 1.5 lakh caregivers through geriatric care and NSQF-aligned programmes.
The Finance Minister expressed optimism over the proposed rare earth corridors, citing the success of defence corridors as a model. She described the Budget as the first in the second quarter of the century, aligned with the vision of making India a developed nation by 2047 under the “Sabka Saath, Sabka Vikas” philosophy.
Responding to questions on the absence of special provisions for states facing elections, Sitharaman remarked that “the government faces criticism either way.”
