&imwidth=800&imheight=600&format=webp&quality=medium "India Union Budget 2026: FM Sitharaman announces rare earth corridors in THESE states")
Indian Finance Minister presented the Union Budget 2026-27 in the Lok Sabha on Sunday (Feb 1). During the presentation, Nirmala Sitharaman announced the creation of rare earth corridors in four states. In her speech, Sitharaman also highlighted that the government has Atmanirbharta (self-reliance) as a north star, which has resulted in a high growth rate of 7 per cent.
Rare earth corridors
Rare earth corridors will be created in Tamil Nadu, Kerala, Odisha, and Andhra Pradesh, the finance minister said during the annual budget presentation for the year 2026-27 in the Lok Sabha.
“A scheme for rare earth permanent magnets was launched in 2025 November. We now propose to support mineral-rich states such as Odisha, Kerala, Andhra Pradesh and Tamil Nadu to establish rare earth corridors to promote mining, processing, research and manufacturing,” Sitharaman said.
What are rare earth corridors?
Rare earth elements are a set of critical minerals that play a vital role in modern technologies, including electric vehicles, wind turbines, mobile phones, defence systems, and advanced electronics. Permanent magnets derived from rare earth minerals are particularly crucial for clean energy applications and high-end manufacturing.
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The proposed corridors aim to build an integrated network for the mining, processing, and transportation of rare earth minerals across the country. By connecting mineral-rich states, the government plans to strengthen supply chains, reduce costs, and make domestic production more efficient and faster.
Atmanirbharta and Union Budget 2026-27
During the Union Budget 2026-27 speech, the finance minister also stressed the government’s push for Atmanirbharta (self-reliance).
“Since we assumed office 12 years ago, India's economic trajectory has been marked by stability, fiscal discipline, sustained growth and moderate inflation,” Sitharaman said in her ninth consecutive Union budget presentation in the Parliament.
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