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Budget 2026: Union Finance Minister Nirmala Sitharaman presented the Union Budget 2026-27 for the upcoming financial year 2026 starting April 1, 2026, in Parliament on Sunday, February 1. The budget speech was scheduled at 11 am, during which she announced important financial details related to various sectors like railways, banking, MSME, agriculture and others. Some of such proposals include the Mahatma Gandhi Swaraj Yojana for the textile industry, a Rs 10,000 crore SME fund to create 'future champions' and the Rs 10,000 crore Biopharma Shakti Yojana.

To boost India's biopharma sector, FM Sitharaman proposed the Biopharma Shakti scheme with an outlay of Rs 10,000 crore for the next five years. The scheme aims to transform the country into a global bio-pharma manufacturing hub.

In her initial remarks, she said this initiative aims to increase domestic production of biologics and biosimilars, promote innovation and strengthen clinical trial infrastructure.

Outlay: Rs 10,000 crore over five years.

Objective: Promote research, innovation, and manufacturing in the biotech/pharma sector to address the rising burden of non-communicable diseases (cancer, diabetes).

Infrastructure Development: The program includes establishing three new National Institutes of Pharmaceutical Education and Research (NIPERs) and upgrading seven existing ones.

Clinical Trials: Creation of a network of 1,000 accredited clinical trial sites across India.

More details will be added soon