In an exclusive interview following the presentation of the Union Budget 2026, Finance Minister Nirmala Sitharaman addressed questions about the budget's scope and its alignment with the government's broader economic reform agenda. Sitharaman emphasized that the annual budget is just one component of the government's comprehensive approach to economic management, asserting that the "reform express is moving fast," with numerous initiatives underway throughout the year.

The Finance Minister highlighted the Yuva Shakti-driven Budget, emphasizing the strengthening of domestic manufacturing, scaling high-growth services, and reinforcing infrastructure as key drivers of long-term economic expansion. Sitharaman stated the government aims to “transform aspiration into achievement and potential into performance". She also conveyed that the government has been undertaking reforms to support employment generation, agricultural productivity, household purchasing power and universal services to people so that citizens benefit from every action of the Government.

Sitharaman defended the budget against criticisms that it doesn't fully address certain economic realities. She argued that many policy changes and reforms are continuous processes, implemented outside the formal budget announcement. The minister pointed to ongoing efforts to streamline regulations, promote investment, and improve infrastructure as examples of reforms that complement the budget's provisions.

The Finance Minister addressed criticism from Leader of Opposition in Lok Sabha Rahul Gandhi, who had accused the government of being “blind to realities” facing the economy. Sitharaman said that while she respects the office Gandhi holds, his criticism often lacks data and rigour. According to her, credible opposition is essential for democracy, but it must be backed by “good foundational data” so that the government can respond meaningfully.

Several key initiatives announced in the budget underscored the government's commitment to long-term growth and self-reliance. These include:

• Textile Sector Boost: An integrated approach to modernize traditional textile ecosystems, strengthen fibre self-reliance, and upgrade skills across the value chain.
• Rare Earth Corridors: Support for Odisha, Kerala, Andhra Pradesh, and Tamil Nadu to establish dedicated rare earth corridors aimed at strengthening mining, processing, research, and manufacturing capabilities.
• Chemical Parks: The government will also help states set up three chemical parks through a challenge-based, cluster-driven plug-and-play model to cut import dependence.
• Biopharma Shakti Initiative: Sitharaman proposed the ₹10,000 crore Biopharma Shakti initiative to develop India as a global biopharma manufacturing hub, expand NIPERs, enhance clinical trial infrastructure, strengthen drug regulation, and launch ISM 2.0 to promote indigenous technology, research and skilled workforce development.

Sitharaman acknowledged concerns about potential inflation stemming from increased consumption and demand, but stated that she would keep a watch and manage it as and when it happens, with emphasis on giving the push for growth.