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The Union Budget 2026-27 coming on 1 February 2026 can be a turning point for the healthcare and pharma sector. The industry is not expecting any big-bang announcement, but this budget will decide whether India will remain only a hub of cheap medicines or will become a global innovation leader. Currently public healthcare spending is only 1.9% of GDP, whereas the target was 2.5%. Pharma sector wants R&D push, return of 200% tax deduction and simple GST structure. Infrastructure, hospital beds and rural workforce gap are also big concerns. In simple words, Budget 2026 will not just calculate the expenditure but will decide the roadmap for India’s healthcare future.

The world is once again on the boil of geopolitics. The Russia-Ukraine war continues, the US-Venezuela tension is raising new questions, and Donald Trump’s aggressive stance on Iran and Greenland is shaking the global balance. In such an environment, the big question is: Will India increase defense spending in Budget 2026–27? There is pressure on fronts like China, LAC and Arunachal. Geopolitics is not a reaction, but a calculated strategy. Hence MoD’s demand of 20–25% hike is in discussion. This will promote modernisation, AI, drones, missiles and indigenous manufacturing. Salaries and pensions are heavy, yet 75% of modernization being reserved for Indian firms gives strength to Atmanirbhar Bharat.

The government is preparing to bring a new Mining Policy in Budget 2026–27, the aim of which is to increase domestic production of silver, copper and zinc by reducing imports. This policy will take forward last year’s mining reforms. Today India imports $5–7 billion worth of copper, whereas it was once a net exporter. Due to the rapid growth of manufacturing and EV sectors, dependence on raw materials has increased. Private players may have a bigger role in the new policy and the target is to increase copper smelting capacity to 2 million tonnes by 2030. There will be special focus on Silver, because India consumes 15–20% of global demand. Demand for metals will further increase with EV, renewable energy and 500 GW green target. For rare earths, auction of 20–30 critical mineral blocks is possible in 2026.