Budget 2026-27: India's Calibrated Approach for Growth and Viksit Bharat Vision

• The Union Budget 2026-27 emphasizes strengthening growth, regulatory stability, and fiscal discipline amidst global uncertainty, aligning with the Viksit Bharat vision.
• Key initiatives include Biopharma SHAKTI (₹10,000 crore outlay) to boost biopharma manufacturing, India Semiconductor Mission 2.0, and enhanced Electronics Components Manufacturing Scheme.
• The Budget introduces a ₹10,000 crore SME Growth Fund and ₹2,000 crore for the Self-Reliant India Fund to support MSMEs and create "Champion MSMEs."
• Infrastructure development sees a capital expenditure increase to ₹12.2 lakh crore, with a focus on Tier-II and Tier-III cities, and an Infrastructure Risk Guarantee Fund.
• Financial sector reforms include a High-Level Committee on "Banking for Viksit Bharat," restructuring public sector NBFCs, and modernizing the foreign investment framework.

Why It Matters: Budget 2026-27 outlines a strategic, reform-oriented path for India's economic growth and development.