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Union Commerce and Industry Minister Piyush Goyal on Sunday described the Union Budget 2026-27 as 'future-ready' for a developed India (Viksit Bharat) by 2047. The budget places heavy emphasis on the manufacturing sector and youth reskilling to strengthen India's position as the world's fastest-growing economy.
Union Minister Piyush Goyal 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. The focus has been on the manufacturing sector in this Budget. Many schemes have been announced to push forward our fastest-growing economy in the world...Inland waterway, high speed rail corridors, development of tier 2 and tier 3 cities, reskilling of youth were focused upon on in this Budget." While dismissing the Opposition's criticism of the budget, he added, "They (the Opposition) have a broken record which plays after every Budget. Do they not want development of MSMEs?" On X, Piyush Goyal posted Major announcements benefiting industry and trade in the #ViksitBharatBudget. The budget features a record 12.2 lakh crore capital expenditure allocation and a heavy emphasis on making the country's manufacturing sector future-ready to maintain its status as the world's fastest-growing economy. The Government on Sunday launched the India Semiconductor Mission 2.0 in the Union Budget 2026-27. The initiative aims to strengthen India's Intellectual Property (IPR) and domestic supply chains, supported by an additional outlay of 40,000 crore for the Electronics Components Manufacturing Scheme. Big plans to make travel and shipping faster across India were also announced in the new Union Budget for 2026-27. The plan includes building seven new high-speed train routes and investing 10,000 crore to begin manufacturing shipping containers locally, which will help Indian goods reach global markets more easily. In a major boost for small businesses and the life sciences sector, the Union Budget 2026-27 on Sunday introduced a 10,000 crore SME Growth Fund and the 'Biopharma SHAKTI' scheme. These initiatives aim to position Indian MSMEs as global players and establish the country as a leading hub for biologics and biosimilars research. The Minister also mentioned other plans like an integrated program for the labour-intensive textile Sector, support to states for 3 dedicated Chemical Parks, 7 high-speed rail corridors as growth collectors, 5 University townships near major industrial & logistic corridors, AVGC content creator labs in 15000 secondary schools & 500 colleges and a scheme to establish 5 regional hubs for medical tourism. (ANI)
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