Nirmala Sitharaman speech highlights: Budget gives big boost to manufacturing, semiconductors, rare earth

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Nirmala Sitharaman live updates: Union Minister Dr Jitendra Singh on Sunday described the Union Budget 2026-27 as a "very futuristic" blueprint, charting a roadmap for the next 25 years, including India's 2047 vision of 'Viksit Bharat'.

"It is a very futuristic budget and a budget for the next quarter of a century... it lays out the roadmap for the next 25 years, which also includes the year 2047 of 'Viksit Bharat'... I'm glad that most of the new announcements from the finance minister today are related to technology.

Nirmala Sitharaman live updates: The government has announced the next edition of India Semiconductor Mission with a broad objective to promote chip manufacturing ecosystem, covering equipment, materials, indigenous designs and other components that are required to produce the high-tech components.

Finance Minister Nirmala Sitharaman on Sunday, without announcing the outlay for the scheme, proposed that the India Semiconductor Mission 2.0 will also focus on industry-led research and training centres.

Nirmala Sitharaman live updates: Andhra Pradesh Chief Minister N Chandrababu Naidu on Sunday welcomed the Union Budget, describing it as forward-looking and aligned with the state government's development priorities, PTI reported.

Describing the Union Budget as "well-balanced and forward-looking", he said it reflects India's self-reliance and will consolidate the country's position in manufacturing.

Nirmala Sitharaman live updates: AAP national convenor Arvind Kejriwal on Sunday said the Union Budget will increase inflation and create unemployment, PTI reported.

Speaking to reporters, he also said there was nothing for Goa in the Budget presented in Parliament by Union Finance Minister Nirmala Sitharaman.

"The central government has forgotten Goa," he claimed.

Nirmala Sitharaman live updates: The Union Budget has raised allocation for the healthcare sector by 10 per cent to ₹1,06,530.42 crore.

As part of its focus on mental health, the Budget proposed the establishment of NIMHANS (National Institute of Mental Health and Neurosciences) 2.0.

The Budget also proposed the establishment of five regional medical and medical tourism hubs in partnership with the private sector, integrating clinical care, AYUSH and post-treatment rehabilitation.

Nirmala Sitharaman live updates: Finance Minister Nirmala Sitharaman on Sunday announced a slew of tax-related changes and proposals in the Union Budget, and also left some provisions and measures at status quo.

While some of these proposals were aimed at providing relief to common taxpayers and simplifying compliance, others, like the STT hike will reduce net profits for active traders.

Nirmala Sitharaman live updates: In the Union Budget 2026-2027, Nirmala Sitharaman announced that products, including aircraft parts, microwave parts, essential drugs and some imported goods, are set to attract lower custom duty, thereby making them cheaper.

Luxury watches and imported alcohol are among the items that are set to be costlier. Sin goods, like cigarettes, 'beedis', pan masala, and gutka will also get costlier.

Nirmala Sitharaman live updates: Finance Minister Nirmala Sitharaman, while presenting the Union Budget on Sunday, announced a series of transformative measures aimed at positioning India as a global hub for Medical Value Tourism (MVT).

To promote India as a preferred destination for medical tourism services, the Government has proposed to support States in establishing five Regional Medical Hubs, in partnership with the private sector.

Nirmala Sitharaman live updates: The Himachal Pradesh unit of the Communist Party of India (Marxist) on Sunday slamed the Union Budget, alleging that the central government has completely ignored the interests of small and hill states such as Himachal Pradesh, PTI reported.

In a press statement, CPI(M) state secretary Sanjay Chauhan said Himachal Pradesh is a revenue-deficit state grappling with a severe economic crisis, but the Budget has failed to offer any meaningful support.

Nirmala Sitharaman live updates: Finance Minister Nirmala Sitharaman allocated ₹13,705.60 crore for the Department of Space. The allocation in the Union Budget for 2026-27 is a marginal increase over the budgetary estimate of ₹13,416 crore for the current fiscal.

The Department of Space actually received ₹12,448.60 crore as per the revised estimates for 2025-26.

Tamil Nadu Chief Minister MK Stalin on Sunday strongly criticised the Union Budget 2026-27, stating that it has once again ignored the interests of Tamil Nadu and failed to address the needs of any section of society.

"The Union Government's Budget, which was eagerly awaited, has delivered an even greater disappointment than usual," ANI quoted Stalin as saying.

Nirmala Sitharaman live updates: The hospitality industry welcomed the Union Budget 2026-27 on Sunday but expressed disappointment that its long-pending demand for comprehensive infrastructure status was not met.

The President of Hotel Association of India (HAI), K B Kachru, said, Budget 2026-27 “reflects a strong focus on accelerating and sustaining economic growth”, PTI quoted him as saying.

Nirmala Sitharaman live updates: Odisha Chief Minister Mohan Charan Majhi on Sunday described the Union Budget as "forward-looking and inclusive" and asserted that it would boost the state's logistics and industrial ecosystem.

Noting that the Budget, presented by Finance Minister Nirmala Sitharaman in Parliament earlier in the day, focuses on the development of youth and farmers, Majhi said, “This provides new opportunities for youth, farmers, entrepreneurs, middle class, and recognition for workers.”

Nirmala Sitharaman live updates: Union Commerce and Industry Minister Piyush Goyal on Sunday described the Union Budget as 'future-ready' for a developed India (Viksit Bharat) by 2047.

Union Minister said,"This is a budget that lays the foundation for 'Viksit Bharat' 2047. This is Budget is for future-ready India. It inspires people to work with dedication."

Nirmala Sitharaman live updates: As the VB-G RAM G scheme is set to be rolled out, the Centre has allocated ₹95,692.31 crore for it, while an allocation of ₹30,000 crore has been made for the MGNREGA.

Rural Development Minister Shivraj Singh Chouhan said the overall Budget of the Department of Rural Development has increased by around 21 per cent, and stressed that the allocations will take the nation towards "self-reliant and developed villages".

Nirmala Sitharaman live updates: The Indian Youth Congress on Sunday staged a protest in the national capital against the Union Budget 2026, raising concerns over issues related to employment, inflation and welfare measures, a party statement said.

Youth Congress National President Uday Bhanu Chib alleged that the budget had failed to address the aspirations of young people and vulnerable sections of society.

Nirmala Sitharaman live updates: Prime Minister Narendra Modi said on Sunday that the Union Budget presented in Parliament earlier in the day will empower the poor, increase the income of farmers and boost the Make in India initiative.

“This is a budget to strengthen villages. This is a budget to increase farmers' income,” PM said in Jalandhar.

Nirmala Sitharaman live updates: In her budget speech on Sunday, Finance Minister Nirmala Sitharaman announced the launch of ‘Bharat-VISTAAR’ (Virtually Integrated System to Access Agricultural Resources), a multi-lingual artificial intelligence tool to integrate agristack portals and the ICAR package on farm practices. This move will help provide customised advisory support to farmers.

Nirmala Sitharaman live updates: Senior Congress leader Shashi Tharoor on Sunday used a cricketing analogy to express his disappointment with the Union Budget, saying Finance Minister Nirmala Sitharaman "seems to have missed the ball".

In an interview with PTI at the news agency's headquarters, Tharoor said Sitharaman's Budget speech seemed to have "lots of subheadings but very few specifics", and was "completely short" of an overall vision.

Nirmala Sitharaman live updates: Finance Minister Nirmala Sitharaman on Sunday allocated ₹2,77,830 crore to the Ministry of Railways for capital expenditure in the financial year 2026–27.

The Budget allocation includes the construction of new lines and the purchase of locomotives, wagons, and coaches, among other works.

Nirmala Sitharaman live updates: Finance Minister Nirmala Sitharaman announced various measures to boost tourism, including giving a push for seaplane operations.

Basic customs duty exemption has been announced for components and parts required for the manufacture of civilian, training and other aircraft.

Nirmala Sitharaman live updates: Former Finance Minister P Chidambaram on Sunday said that the Union Budget 2026-27 has failed the test of economic strategy and economic statesmanship, PTI reported. He said that centre's capital expenditure has fallen and funds have been cut in crucial sectors and programmes.

Nirmala Sitharaman live updates: Describing the Union Budget 2026–27 as a decisive step towards a developed India, Chhattisgarh Chief Minister Vishnudev Sai said the budget presents a clear roadmap for inclusive growth, employment generation and social justice.

The Chief Minister said that under the leadership of PM Modi, the budget places the aspirations of the poor, farmers, youth, women and the middle class at its core.

Nirmala Sitharaman live updates: The Union Budget drew mixed responses from trader organisations in Delhi. BJP MP and Secretary General of Confederation of All India Traders (CAIT), Praveen Khandelwal, described the budget as “an excellent blend of visionary thinking,” PTI quoted him as saying.

However, the Chamber of Trade and Industry (CTI) reportedly called the budget a “mixture of happiness & sadness.”