Union Budget 2026 Updates: Today, February 1st, Finance Minister Nirmala Sitharaman is presenting the 9th Union Budget in Parliament. Parliamentary proceedings have begun. Finance Minister Nirmala Sitharaman has started her budget speech. She is presenting the budget for the ninth consecutive time today, February 1st, 2026. Finance Minister Nirmala Sitharaman began her budget presentation by invoking the name of Saint Ravidas.
During her budget speech, Minister Nirmala Sitharaman stated that the country is moving towards a developed India. She also said that the government has worked to alleviate poverty. Continuous efforts are being made to increase investment. The country has been experiencing economic growth for 12 years. During the budget presentation, Minister Nirmala Sitharaman said that our government has been working on investment for 12 years.
Government focused on making India a semiconductor hub
Finance Minister Nirmala Sitharaman stated that the government is working to make India a semiconductor hub. Rs 40,000 crore has been allocated for semiconductors.
Semiconductor Mission 2.0 to be launched
In her budget speech, Finance Minister Nirmala Sitharaman announced that a new scheme will be launched for the manufacturing and upgradation of construction and infrastructure equipment. The objective of this scheme is to promote domestic manufacturing and strengthen the infrastructure sector.
Emphasis on ISM 2.0 and Electronics
The Finance Minister said that the India Semiconductor Mission 1.0 has expanded the country’s semiconductor capabilities. Based on this, the government will now launch ISM 2.0, under which the production of equipment and materials, the development of full-stack Indian IP, and the strengthening of the supply chain will be undertaken.
Rs 10,000 crore announced for MSMEs
We want to nurture them like champions. We are allocating Rs 10,000 crore for this, so that entrepreneurs can benefit.
Rare Earth Minerals Corridor announced
Finance Minister Nirmala Sitharaman announced that a Rare Earth Corridor will be established in Odisha, Kerala, Andhra Pradesh, and Tamil Nadu. In addition, three dedicated chemical parks will also be established.
Cancer and Diabetes Medicines to Become Cheaper
Finance Minister Nirmala Sitharaman announced that cancer and diabetes medicines will become cheaper in the country.
Government Allocates ₹10,000 Crore for Biopharma
The Finance Minister stated that biopharma will be a focus area for the government. We are allocating ₹10,000 crore. Three new institutions will be established. Currently, we have seven institutions, which will be further upgraded.