Finance Minister Nirmala Sitharaman is presenting the Union Budget 2026 in Parliament. In the budget, the minister announced to promote manufacturing in seven sectors for the economic progress of the country. The minister made an important announcement regarding the semiconductor sector. Nirmala Sitharaman said that under the India Semiconductor Mission 1.0, the capabilities of the semiconductor sector in the country have been expanded. Now the second phase of India Semiconductor Mission, ISM 2.0, has been announced to enhance capabilities in this area. Apart from this, the Finance Minister also announced in the budget speech to pay special attention to industry-based research and training centres.
Big announcement for electronics components
The central government wants to increase electronics component manufacturing in the country. A big announcement has been made for this sector in Budget 2026. Finance Minister Nirmala Sitharaman said that the investment in Electronics Component Manufacturing Scheme has already doubled the target. Making a big announcement in Budget 2026, it has been proposed to increase the expenditure in Electronics Manufacturing Scheme to Rs 40 thousand crore.
Investment will increase in rare minerals
Rare earth minerals are very important for the production of electronics, electric vehicles and semiconductors. At present, India imports a large part of its rare minerals requirement from China. A big announcement has been made in Budget 2026 to increase self-reliance in this sector also.
The Central Government had launched the scheme for rare minerals in the year 2025. Now the Budget proposes to help mineral-rich states to set up rare mineral corridors. Finance Minister Nirmala Sitharaman, in her speech in Bataj, has proposed setting up of mineral corridors in Odisha, Kerala, Andhra Pradesh, Tamil Nadu.
