Budget 2026: India Adopts 'Whole-of-Country' Industrial Strategy, Says Expenditure Secretary

• V. Vualnam, Secretary, Department of Expenditure, Ministry of Finance, stated that the 2026-27 Union Budget emphasizes a "whole-of-country" approach to industrial development.
• The strategy focuses on public-private collaboration in key sectors like semiconductors, rail infrastructure, and rare earths, involving government, industry, private sector, and states.
• The India Semiconductor Mission 2.0, following a 76,000 crore rupees outlay, exemplifies this collaborative model with proactive state government participation.
• The budget also prioritizes rail corridors and railway infrastructure, recognizing their importance for modern industry and requiring coordination among stakeholders.
• Vualnam highlighted the budget's commitment to fiscal prudence, macroeconomic stability, ease of doing business, and linking spending to measurable outcomes.

Why It Matters: Budget 2026 champions a collaborative 'whole-of-country' industrial strategy for India's development.