Budget 2026–27: Finance Minister Sitharaman announces 3 new All India Institute of Ayurveda, Pharmaceutical Education and Research

Finance Minister Nirmala Sitharaman announced in the Union Budget 2026-27 in the Lok Sabha on Sunday (February 1) to set up three new All India Institute of Ayurveda, National Institute of Pharmaceutical Education and Research. The Budget is also expected to reveal measures to sustain growth momentum, maintain fiscal discipline, and contain reforms that could protect the Indian economy from global trade frictions, which include US tariffs.

Underlining the economic performance of the NDA government, the Finance Minister stated that the economic trajectory of India since 2014 has been marked by stability, fiscal discipline and sustained growth.

"The reform express is well on its way and will maintain its momentum to help us fulfil our duties. Since we assumed office 12 years ago, the country's economic trajectory has been marked by stability, fiscal discipline, sustained growth and moderate inflation. This is the result of conscious choices we have made even in times of uncertainty and disruptions," said Sitharaman.

She stated that by keeping Aatmanirbharta as a core guiding principle, the government has bolstered domestic manufacturing, ensuring energy security and reducing reliance on critical imports. She noted that these initiatives have helped achieve a growth rate of about 7 per cent while driving significant progress in poverty reduction and improving people’s quality of life.

"Keeping Aatmanirbharta as a lodestar, we have built domestic manufacturing capacity, energy security and reduced critical import dependencies. Simultaneously, we have ensured that citizens benefit from every action of the Government, undertaking reforms to support employment generation, agricultural productivity, household purchasing power and universal services to people. These measures have delivered a high growth rate of around 7% and helped us make substantial strides in poverty reduction and improvement in the lives of our people," said Sitharaman.

Nirmala Sitharaman's 9th budget

This will be her ninth budget presentation in a row, with the Union Cabinet led by Prime Minister Narendra Modi expected to clear the FY 2026–27 Budget. The Union Budget is now presented on February 1 each year to allow for timely parliamentary approval and smooth rollout at the beginning of the financial year on April 1.

Earlier, this was not the practice. Under British rule, the Union Budget was presented on the last working day of February, which often delayed approval of schemes and policies before the new financial year began. As a result, government departments and businesses had limited time to plan or adapt to the changes announced in the Budget.