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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. The Bio Pharma announcement is the most important: Rs 10,000 crore for the Bio Pharma Shakti mission and the Bio Pharma Shakti scheme," Jitendra Singh said. According to the Ministry of Finance, to develop India as a global Biopharma manufacturing hub, the Biopharma SHAKTI, with an outlay of Rs 10,000 crores to build the ecosystem for domestic production of biologics and biosimilars, will be set up over the next 5 years. It will also create a network of over 1,000 accredited clinical trial sites. The Central Drugs Standard Control Organisation will be strengthened to meet global standards and approval timeframes through a dedicated scientific review cadre and specialists. The Strategy will include a Biopharma-focused network with 3 new National Institutes of Pharmaceutical Education and Research (NIPER) institutes and the upgrading of 7 existing ones, ministry said. 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 today rose in the Lok Sabha to present the Union Budget. She presented her ninth consecutive Budget. Earlier today, Prime Minister Narendra Modi hailed the Union Budget 2026-27 as a "strong foundation" for India's journey towards Viksit Bharat 2047, saying it would provide fresh energy and speed to the 'reform express' on which the country is riding. PM Modi emphasised that citizens are the greatest asset and that the government has made unprecedented investments to enhance their capabilities. (ANI)
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