By Admin 
Union Finance Minister Nirmala Sitharaman presented the Union Budget 2026-27 in Parliament. He started his budget speech by paying tribute to Saint Ravidas. This budget has been presented at a time when the government has completed 12 years of its tenure and India has emerged as a fast growing economy globally. The Finance Minister said that India’s economic journey in the last 12 years has been defined by stability, fiscal discipline, sustained growth and controlled inflation. According to him, this achievement is the result of thoughtful decisions taken by the government despite difficult global circumstances and uncertainties.
The Finance Minister said that more than 350 reforms have been implemented in recent years and the Central Government is working with the State Governments on de-regulation. He proposed enhancing six areas to accelerate economic growth, including expansion of manufacturing in strategic areas, revival of old industrial areas, creating strong MSMIs, boosting infrastructure, ensuring long-term sustainability and development of city economic regions. He announced the launch of India Semiconductor Mission 2.0 and said that under this, special focus will be given to industry-led research and training centers so that a skilled technical workforce can be created.
Promotion of biopharma and chemical sector
To make India a global bio-pharma hub, the Finance Minister proposed ‘Biopharma Shakti’ scheme. Under this, an investment of Rs 10,000 crore will be made in the next five years. Along with this, there was talk of developing rare earth corridors in the mineral rich states of Tamil Nadu, Kerala, Odisha and Andhra Pradesh, which will be converted into Special Economic Zones. Apart from this, he has also proposed to launch a new scheme to assist states in setting up three dedicated chemical parks.
Where are the Special Economic Zones in India?
Special Economic Zones (SEZ) have played an important role in economic development, increasing exports and attracting foreign investment in India. These economic zones have been established in many big and emerging cities of the country, where industries get special facilities, better infrastructure and policy facilities. The objective of these zones is to strengthen India as a global investment and manufacturing hub. These Special Economic Zones include Gujarat, Maharashtra, Tamil Nadu, Andhra Pradesh, Kerala, Karnataka, Noida and Raipur.
Also read: Budget 2026 LIVE Updates: Parliament proceedings begin, Finance Minister Nirmala Sitharaman started her speech by taking the name of Saint Ravidas.