New Delhi, February 1: Finance Minister Nirmala Sitharaman on Sunday said that the Union Budget 2026-27 is designed to accelerate economic growth and create more jobs across sectors. Addressing journalists after the presentation of the budget, the Finance Minister said: "The Budget focuses on building an ecosystem with structural reforms to improve productivity and create an environment that ensures employment generation across sectors. It is designed to maintain growth momentum through sustained economic expansion."

The emphasis on growth, reforms and job creation reflects the government’s push for a tech-driven and inclusive economic framework, she said. Explaining the fine print of her key proposals, the Finance Minister highlighted that the Rs 10,000 crore outlay earmarked in the Budget for the biopharma sector is aimed at ensuring India maintains its leadership in the global biopharma industry. Budget 2026 Highlights: FM Nirmala Sitharaman Raises Capital Expenditure for FY27 by About 9% to INR 12.2 Lakh Crore.

FM Nirmala Sitharaman Addresses Journalists After Presentation of Union Budget 2026

"Budget proposing Rs 10,000 crore investment in biopharma sector over next five years ensures India maintains lead in the sector," she remarked. The Finance Minister also highlighted that in this year’s budget, health has been given equal importance, with special emphasis on mental health.

The Budget marks a significant milestone in the government’s ongoing efforts to strengthen India’s healthcare system, with a substantial enhancement in the allocation for the Ministry of Health & Family Welfare to Rs 1,06,530.42 crores, reflecting an increase of nearly 10 per cent over the Revised Estimates of FY 2025–26. Budget 2026 Highlights: Nirmala Sitharaman Proposes Rare Earth Corridors in Tamil Nadu, Kerala, Odisha and Andhra Pradesh.

Her budget proposals include the creation of 1 lakh Allied Health Professionals (AHPs) in 10 disciplines, like optometry, radiology, anaesthesia, over the next five years as part of the Budget proposals. Besides, more emergency and trauma centres, as well as mental health institutions like NIMHANS, are to be set up.

Sitharaman also announced that as many as 1.5 lakh caregivers would be created for geriatric and NSQF-aligned programmes in the country. She also expressed optimism about India’s new rare earth corridors proposed in the budget. She cited the example of the success achieved in the development of the existing defence corridors to illustrate her point.

She further stated that this budget is the first one in the second quarter of the century, leading towards the vision of becoming a developed nation by 2047, along with "Sabka Saath, Sabka Vikas". Asked why the Union Budget 2026-27 did not give special emphasis to states with upcoming elections like West Bengal, Kerala, and Tamil Nadu, Finance Minister Sitharaman quipped: "The government faces criticism either way."

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(The above story first appeared on LatestLY on Feb 01, 2026 11:56 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).