Modi Govt Boosts Handicraft Industry, Pharma Hub; Big Blow to US Tariffs

• Union Minister Nirmala Sitharaman presented the budget, focusing on a developed India and poverty reduction.
• Modi government announced significant support for the handicraft industry, particularly benefiting Maharashtra, countering US tariffs.
• New schemes include container production, textile expansion, and prioritizing handlooms through the National Handloom Program.
• Plans to accelerate rare mineral mining, establish India as a global pharmaceutical manufacturing hub, and support MSMEs.
• Proposals include a 40,000 crore allocation for electronic components, a Rare Earth Magnet Corridor, and three new chemical parks.

Why It Matters: Modi government's budget prioritizes domestic industries, especially handicrafts and pharma, while countering US trade policies.