New Delhi: Union Finance Minister Nirmala Sitharaman on Sunday proposed a major boost to India’s biopharma sector by announcing the ‘Bio Pharma Shakti’ programme, with an allocation of Rs 10,000 crore over the next five years, while presenting the Union Budget in Parliament.
The proposed initiative aims to create a strong and integrated ecosystem for biopharmaceuticals and biosimilars, strengthening domestic manufacturing and innovation capabilities. Sitharaman said the programme would support India’s long-term goal of self-reliance in high-value healthcare and life sciences.
Among other key announcements, the Finance Minister outlined plans to scale up manufacturing in strategic and frontier sectors and to develop city-based economic regions to drive balanced regional growth and industrial expansion.
In her opening remarks, Sitharaman said India’s economic journey since the current government assumed office has been characterised by fiscal discipline, stability, and sustained growth. Emphasising the government’s policy approach, she said the administration led by Prime Minister Narendra Modi has prioritised decisive action and reforms, with Atmanirbhar Bharat serving as the guiding principle.
“Since we assumed office 12 years ago, India’s economic trajectory has been marked by stability, fiscal discipline, sustained growth, and moderate inflation,” she said, adding that the government would continue to balance economic ambition with inclusive development.
The Finance Minister presented her ninth consecutive Union Budget, marking a record tenure. Earlier in the week, she tabled the Economic Survey for 2025–26 in Parliament, following the established practice of outlining the state of the economy ahead of the Budget.
The Economic Survey provided a data-driven assessment of economic performance over the past year and set out a broad policy roadmap. It projected India’s real GDP growth for 2026–27 in the range of 6.8 to 7.2 per cent, reflecting resilient medium-term growth prospects despite global challenges.
On inflation, the Survey noted that India recorded its lowest average CPI inflation since the inception of the index, with headline inflation averaging 1.7 per cent between April and December 2025. The decline was attributed mainly to easing food and fuel prices. Looking ahead, inflation is expected to remain moderate, supported by favourable supply-side conditions and the gradual impact of GST rate rationalisation.
