Nirmala Sitharaman speech LIVE: FM bets on rare earth corridors, hails ₹10K cr biopharma push in post-budget presser

NIrmala Sitharaman oral communication unrecorded: Finance government minister Nirmala Sitharaman on lord's day concluded her Budget 2026-27 oral communication in the Lok Sabha in nearly one-and-a-half hours long address, laying out the government’s economic roadmap anchored in growth, investment and fiscal stability. Key announcements included a sharp push to public capital expenditure at ₹12.2 lakh crore in 2026-27. The finance minister announced government's renewed outlook with a thrust on manufacturing, semiconductors and MSMEs.The address also highlighted targeted initiatives in health, sports, tourism and women-led enterprises, all framed around the vision of building a Viksit Bharat by 2047. This marked her historic ninth consecutive Union Budget address in the Lok Sabha.PM Modi says Budget strengthens India’s global rolePrime Minister Narendra Modi said the Union Budget 2026-27 will further enhance India’s position on the global stage."The 140 crore citizens of India are satisfied with not just being the fastest-growing economy, but we also want to be the third-largest global economy at the earliest. This is the resolve of crores of citizens of the country," he said.PM Modi highlighted that India’s role as a trusted, democratic partner and a reliable quality supplier is expanding. He added that the benefits of recently signed trade agreements—the "Mother of All Deals"—should reach the country’s youth and small and medium enterprises, and said the Budget has taken major steps in this direction.Follow Union Budget 2026 liveSitharaman’s pre-Budget routineFinance minister Nirmala Sitharaman followed the customary pre-Budget protocol on Sunday. As per established tradition, she called on President Droupadi Murmu at Rashtrapati Bhavan before heading to Parliament.Earlier in the day, Sitharaman posed for photographs with her Budget team outside her office at Kartavya Bhavan. Dressed in a magenta silk saree, she was seen carrying a tablet enclosed in a red pouch bearing the national emblem, alongside Minister of State for Finance Pankaj Chaudhary and the six secretaries of the finance ministry.Follow Income Tax 2026 LIVE updatesAfter meeting the President, Sitharaman proceeded to a Cabinet meeting, where the Union Budget for 2026-27 received formal approval. She continues the tradition she introduced in 2019 by carrying the Budget speech in a ‘bahi-khata’ style pouch, replacing the earlier briefcase custom.Follow Stock Market LIVE updatesWhat’s on the Lok Sabha agenda todayAccording to the Lok Sabha List of Business, the House will meet at 11 am. Sitharaman will present a statement of the estimated receipts and expenditure of the Government of India for 2026-27.She will also lay on the table two statements mandated under Section 3(1) of the Fiscal Responsibility and Budget Management (FRBM) Act, 2003. These include the Medium-term Fiscal Policy-cum-Fiscal Policy Strategy Statement and the Macro-economic Framework Statement.Economic Survey 2025-26Ahead of the Budget, Sitharaman tabled the Economic Survey of India for 2025-26 in Parliament on Thursday, following long-standing tradition.Often described as the economy’s annual “report card”, the Survey explains the rationale behind upcoming fiscal decisions by analysing trends, challenges and growth drivers, while the Budget lays out future spending and taxation plans.