In the federal budget presented by Finance Minister Nirmala Sitharaman on Sunday, she allocated a budget of Rs 4.12 trillion for current expenditure and Rs 1.22 trillion for capital expenditure.
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India has allocated a budget of Rs 53.4 trillion for the upcoming fiscal year 2026/27, prioritizing industrial and economic development.
In the federal budget presented by Finance Minister Nirmala Sitharaman on Sunday, she allocated a budget of Rs 412 trillion for current and Rs 122 trillion for capital expenditure.
Finance Minister Sitharaman said that the government has given priority to industrial development. She also informed that more than 350 economic reforms have been implemented since August 15 last year.
Finance Minister Sitharaman said during the budget speech, 'To accelerate economic growth, I propose reforms in six areas. Increase production in seven strategic areas, revitalize old industrial sectors, create champion SMEs, promote infrastructure, ensure long-term security and stability and develop the urban economic sector.'
According to Finance Minister Sitharaman, Rs 10,000 crore will be invested in biopharma in the next 5 years for the financial year 2026/27.
Similarly, the government is also going to make special investment for 'Rare Earth' i.e. rare minerals found on Earth. A Rare Earth Magnet Corridor will be created by covering Odisha, Kerala, Andhra Pradesh and Tamil Nadu. A proposal of Rs 40,000 crore has been made for electronics components manufacturing.
