New Delhi, Feb 1 (NationPress) Finance Minister Nirmala Sitharaman announced on Sunday that the Union Budget 2026-27 is crafted to stimulate economic growth and generate employment across various sectors.

In a press briefing following the budget presentation, the Finance Minister remarked: "This budget is focused on establishing a framework with structural reforms to enhance productivity and foster an environment that encourages job creation across multiple sectors. It aims to sustain growth momentum through ongoing economic expansion."

The government's commitment to growth, reforms, and job creation underscores its drive towards a technology-oriented and inclusive economic structure, she elaborated.

Detailing significant aspects of her proposals, the Finance Minister pointed out that the Rs 10,000 crore allocation for the biopharma sector is intended to ensure that India retains its leadership position in the global biopharma arena.

"The budget proposes a Rs 10,000 crore investment in the biopharma sector over the next five years, which guarantees India's continued leadership in this field," she stated.

Additionally, she emphasized that health has been prioritized equally in this year's budget, with a particular focus on mental health.

This budget symbolizes a crucial step in the government's persistent endeavors to fortify India's healthcare system, marked by a significant increase in funding for the Ministry of Health & Family Welfare to Rs 1,06,530.42 crores, reflecting an increase of nearly 10% compared to the Revised Estimates of FY 2025-26.

Her budget proposals also include the establishment of 1 lakh Allied Health Professionals (AHPs) across 10 disciplines, such as optometry, radiology, and anaesthesia, over the next five years. Furthermore, the establishment of additional emergency and trauma centers, as well as mental health institutions like NIMHANS, is planned.

Sitharaman further announced that 1.5 lakh caregivers would be trained for geriatric and NSQF-aligned programs throughout the country.

She expressed optimism regarding India's proposed new rare earth corridors, citing the successful development of existing defense corridors as an example of potential.

Moreover, she noted that this budget is the first of the second quarter of the century, aligning with the vision of transforming India into a developed nation by 2047, embodying the principle of "Sabka Saath, Sabka Vikas".

When questioned about the lack of special emphasis in the Union Budget 2026-27 on states with upcoming elections, such as West Bengal, Kerala, and Tamil Nadu, Finance Minister Sitharaman humorously remarked: "The government faces criticism either way."