Budget proposes Rs 10,000 crore Bio Pharma Shakti scheme

The Union Budget 2026–27 proposed a Rs 10,000 crore Bio Pharma Shakti scheme to boost biologics and biosimilars, alongside allied health job creation, caregiver training, healthcare infrastructure expansion and continued reforms to support growth and inclusion.

New Delhi: Finance Minister Nirmala Sitharaman on Sunday announced a Rs 10,000 crore outlay for the Bio Pharma Shakti scheme for biologics and biosimilar drugs to make India a global bio-pharma hub.

Presenting the Budget 2026-27, she said these bio medicines would help the country tackle the growing burden of non-communicable diseases like diabetes.

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The Finance Minister also said that the government would create 1 lakh Allied Health Professionals (AHPs) in 10 disciplines like optometry, radiology, and anaesthesia over the next five years as part of the Budget proposals.

Sitharaman also announced that as many as 1.5 lakh caregivers would be created for geriatric and NSQF-aligned programmes in the country.

Besides, more emergency and trauma centres would be set up in the country, and mental health institutions would be built on the lines of the NIMHANS.

In her Budget 2026-27 presentation, the Finance Minister also said that since the Narendra Modi government assumed office, the Indian economic trajectory has been marked by fiscal discipline and sustained growth

The FM has proposed interventions in 6 sectors, including manufacturing, strategic and frontier sectors, healthcare and advanced technology in the Budget for 2026-27.

Among other announcements, she proposed scaling up manufacturing in strategic and frontier sectors and developing city economic regions.

The Finance Minister further stated that the government has undertaken comprehensive reforms towards creating employment, boosting productivity and accelerating growth. “Over 350 reforms have been rolled out, and the ‘Reforms Express’ is well on its way, and India will continue to take confident steps towards Viksit Bharat, balancing ambition with inclusion,” the Finance Minister said.

Sithamaraman said that the Union Budget prepared in Kartivya Bhavan is based on three ‘karatavyas’ (duties). “We are inspired by three kartavya: accelerate and sustain economic growth, fulfil aspirations of people and build capacity, and the third is to ensure that every family, community, and region has access to resources.”