'Laying the Path to Maintain our Growth Momentum': Nirmala Sitharaman in post-Budget Press Conference

New Delhi: In a post-budget press conference Union Finance Minister Nirmala Sitharaman said that the Union Budget 2026 is aimed at laying the path and giving a push to the economy to maintain the country's growth momentum.

“We are laying the path and giving a push to the economy to maintain the growth momentum and for that growth momentum or sustained economic growth which we want to ensure, primarily, we are looking at building the ecosystem with structural reforms,” Sitharaman said.  

Emphasising that the government is focused on continuing its reform trajectory, Sitharaman said, “It will continue with an aim to make sure that we create enough environment for improving productivity and making sure employment is generated.”

Technology for Inclusive Development

The Finance Minister pointed out that the the current century is driven by technology and the government's task is to ensure that every one benefits from its application.

“21st century is completely driven by technology. So we will ensure that technology is brought in to benefit the common man, to make sure common man benefits in the sense of Ease of Living or his business prospects, or farmers benefit from greater productivity or better logistics,” Sitharaman said, stressing that technology should be aimed at “inclusive development” or “Sabka Sath Sabka Vikas.”

Focus on Health

Speaking at the presser, the Finance Minister said that to ensure accessibility to health facilities, the government has brought in several schemes with adequate allocations for “bringing better health facilities,” as well as “creating a bulk of people” who can come in as health workers or paramedics.

Sitharaman said that the government has also announced “dignified opportunities for Divyangjan,” as well as ensured that adequate attention is provided to “mental health.”  He further pointed out that the “advantage and the momentum” that the country has gained since the pandemic, by increasing public capital expenditure will continue. 

“We have announced that Rs 12.2 lakh crore is coming to public expenditure this time, it is 4.4% of the GDP, highest at least in the last 10 years,” she underlined.

Focus on Infrastructure

Sharing some highlights from her Budget speech that focused on infrastructure and logistics, Sitharaman said, “You have dedicated freight corridors, Dankuni in the East and Surat in the West. 20 new national waterways have been planned which are going to pass through critical mineral areas. We are also making sure that coastal cargo movements are enabled, through cargo routes so that through the coastal areas we are able to cut down on the cost of movement of goods.”

The Finance Minister also pointed out that the budget has come up with a new concept called “City Economic Regions” with an allocation of Rs 5,000 crore in 5 years, that is, Rs 1000 crore per city per year. Sitharaman said, “The emphasis will be largely on Tier II and Tier III Cities.”

Speaking on the seven High Speed Rail Corridors that have been announced, she said, “The destinations are clear, so that they become be bridge for all these economical robust centers.”

Semiconductor Mission

The Finance Minister pointed out that the Semiconductor Mission 2.0 will “improve the India stack and also the IP-related matters.”  The electronic components manufacturing scheme for Rs 40,000 crores is a major encouragement for electronics to become self-sufficient, she said. 

“We have also announced establishing rare earth corridors so that India can face and be able to meet its own requirements with its materials. So once we identify and are able to explore these minerals and process them, make them available for us, our dependency on external sources for bringing in the rare earths will be lesser and we've identified the states where we want to establish these rare earth corridors. They are going to be in Odisha, Kerala, Andhra Pradesh and Tamil Nadu," Sitharaman said adding that this mission is aimed at reducing the country's dependence on magnets and rare earths.

Imports Exemptions

On the items that the central government has decided to keep out of import duties, Sitharaman said, “Seven more rare diseases are added to the import exemption list of the import duties. Baggage clearance and personal items which you bring in when you travel are all being given enhanced duty-free elements. Besides that, there are quite a few direct tax and indirect tax proposals.”

Reaction To Rahul Gandhi's Claims

On Lok Sabha LoP Rahul Gandhi's post criticising the Union Budget announced on Sunday in which he has asked for a course correction, Sitharaman said, “I don't know what course correction he is referring to. The economy and its fundamentals are strong. Many of our sectors are facing the problem of global uncertainities, for whom we have brought in so many different schemes for those small and medium enterprises, for textiles, for leather, for people who are working in the rural areas, schemes for benefiting them, for even the farmer and value addition, for women entrepreneurs, self-help entrepreneurs.” 

"These are ways in which we are reaching out to the common small people to make sure that they don't have to face big changes in their life because of any volatility coming from outside...Politically, you want to criticise, you're welcome, please do it. But if you want to give me the facts on which you're basing your argument, I'm willing to hear and willing to reply to that," she added.

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