Union Minister Dr Jitendra Singh described the Union Budget 2026-27 as a “very futuristic” blueprint that charts 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. The Bio Pharma announcement is the most important: Rs 10,000 crore for the Bio Pharma Shakti mission and the Bio Pharma Shakti scheme,” Singh said.
The Ministry of Finance stated that Biopharma SHAKTI, with an outlay of Rs 10,000 crore, will be established over the next five years to develop India as a global Biopharma manufacturing hub. This initiative aims to create an ecosystem for domestic production of biologics and biosimilars and a network of more than 1,000 accredited clinical trial sites.
The Central Drugs Standard Control Organisation will be strengthened with a dedicated scientific review cadre and specialists to meet global standards and approval timeframes. The strategy includes a Biopharma-focused network featuring three new National Institutes of Pharmaceutical Education and Research (NIPER) institutes and the upgrading of seven existing ones.
BJP Karnataka leader Basavaraj Bommai described the budget as “progressive and development-oriented”. “It is a progressive and development-oriented budget. Amid global geopolitical challenges, Finance Minister Nirmala Sitharaman has presented a very dynamic budget that will lead the country on the right path,” Bommai told ANI.
Finance Minister Nirmala Sitharaman presented her ninth consecutive Union Budget today in the Lok Sabha.
Prime Minister Narendra Modi hailed the Union Budget 2026-27 as a “strong foundation” for India’s journey towards Viksit Bharat 2047, stating it would provide fresh energy and speed to the ‘reform express’ on which the country is riding. He emphasised that citizens are the greatest asset and the government has made unprecedented investments to enhance their capabilities.