FM Sitharaman Outlines Union Budget 2026-27 Priorities
The Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, outlined the primary objectives and strategic direction of the Union Budget for the fiscal year 2026-27, with an emphasis on promoting policy consistency, fostering manufacturing expansion, and encouraging sustainable investment.
The minister delivered a speech to the Board Members of the US-India Strategic Partnership Forum in New Delhi, discussing the budget priorities.
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As stated in a social media update by the Ministry of Finance, the gathering centered on enhancing economic interactions between India and the US, as well as outlining the objectives and implications of the Union Budget.
The ministry emphasized the government's overarching goal of establishing a consistent and reliable policy framework to promote long-term investment planning for businesses and industries.
Finance Minister Sitharaman delineated the fundamental principles of the Union Budget for 2026-27, stating that, guided by Prime Minister Narendra Modi, the Budget demonstrates the government's dedication to maintaining policy continuity, certainty, and predictability.
She pointed out that this strategy seeks to empower businesses and industries to develop enduring strategies and commit to continuous investments. In her speech, the finance minister emphasized significant reforms in various sectors.
She specifically mentioned the government's backing for semiconductor and electronic components manufacturing, Bio Pharma Shakti initiatives, the creation of Rare Earth Corridors, and the modernization of existing industry clusters.
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Sitharaman emphasized the government's dedication to enhancing India's manufacturing capabilities primarily through Micro, Small, and Medium Enterprises (MSMEs). She highlighted particular attention towards medium-sized enterprises, aiming to establish prominent manufacturing leaders capable of fostering growth, innovation, and job creation.
The finance minister emphasized that these initiatives are in accordance with the overarching goal of strengthening India's industrial foundation and bolstering competitiveness in crucial strategic industries.
Attendees of the meeting recognized the governmental policy endeavors aimed at sustaining the momentum of reform. The attendees expressed gratitude for the dedication to maintaining fiscal discipline, especially given the current global uncertainties.
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They also observed that clear policies and prudent fiscal management would enhance investor trust and strengthen economic collaboration between India and the US.