Union Budget 2026: Finance Minister Announces ₹10,000 Crore Bio Pharma Shakti Scheme

1 Feb 2026 , 12:12 PM

Union Finance Minister Nirmala Sitharaman announced a major new initiative in the Union Budget 2026, with the central government planning to launch the Bio Pharma Shakti scheme with an outlay of ₹10,000 crore.

The proposed scheme aims to strengthen India’s position as a global hub for bio pharmaceutical manufacturing, with a focus on building a robust ecosystem for biopharma and biosimilar products.

According to the Finance Minister, the Bio Pharma Shakti initiative is designed to support research, manufacturing capacity, innovation, and scale across the bio pharma value chain.

As part of the broader budget framework, the government has proposed targeted interventions across six priority areas, including manufacturing, strategic sectors, frontier industries, healthcare, and advanced technology.

The Finance Minister also announced plans to scale up domestic manufacturing in strategic and frontier sectors, aligned with the government’s long term industrial and self reliance goals.

Another key proposal includes the development of city economic regions to promote regional growth hubs, improve infrastructure, and drive employment generation.

In her introductory remarks to the Budget speech, the Finance Minister said that India’s economic trajectory since the current government assumed office has been characterised by stability, fiscal discipline, and sustained growth. She highlighted that inflation has remained moderate over the years while maintaining steady economic expansion.

Sitharaman stated that the government has prioritised decisive action over uncertainty and structural reforms over rhetoric. She emphasised that Atmanirbharta or self reliance continues to guide policy formulation and execution across sectors.

The Finance Minister added that the government will continue to balance economic ambition with inclusion in the years ahead, ensuring that growth remains broad based and sustainable.

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