Sitharaman said that since the BJP-led NDA government assumed office 12 years ago, India's economic trajectory has been marked by stability.
Finance Minister Nirmala Sitharaman on Sunday presented the Union Budget 2026–27 in the Lok Sabha, marking her ninth consecutive Union Budget.
The Union Budget proposes the establishment of a high-powered ‘Education to Employment and Enterprise’ Standing Committee to recommend measures focused on the services sector as a core driver of Viksit Bharat. The initiative aims to position India as a global leader in services, targeting a 10 per cent share of the global services market by 2047.
The committee will identify priority areas to optimise growth, employment and exports. It will also assess the impact of emerging technologies, including artificial intelligence, on jobs and skill requirements, and propose suitable measures.
According to an official release from the Finance Ministry, “The Indian design industry is expanding rapidly, yet there is a shortage of Indian designers.”
To address this gap, the Union Budget proposes to establish a new National Institute of Design (NID) in the eastern region of India through a challenge-based route, aimed at boosting design education and development.
The government will also support states, through a challenge route, in creating five University Townships near major industrial and logistics corridors. These planned academic zones will host multiple universities, colleges, research institutions, skill centres and residential complexes.
Recognising that prolonged hours of study and laboratory work in higher education STEM institutions pose challenges for girl students, the Union Budget proposes to establish one girls’ hostel in every district through Viability Gap Funding (VGF) or capital support.
To promote astrophysics and astronomy through immersive experiences, four telescope infrastructure facilities will be set up or upgraded: the National Large Solar Telescope, the National Large Optical Infrared Telescope, the Himalayan Chandra Telescope, and the COSMOS-2 Planetarium.
At the beginning of her budget speech, Sitharaman said that since the BJP-led NDA government assumed office 12 years ago, India’s economic trajectory has been marked by stability, fiscal discipline, sustained growth and moderate inflation.
“This is the result of conscious choices we have made even during times of heightened uncertainty and disruption. Our government, led by Prime Minister Narendra Modi, has decisively and consistently chosen action over ambivalence and reform over rhetoric. We have pursued far-reaching structural reforms, fiscal prudence and monetary stability, while maintaining a strong thrust on public investment,” she said.
