NEW DELHI: Finance Minister Nirmala Sitharaman has proposed to push India’s biopharma sector under a Bio Pharma Shakti programme with an allocation of Rs 10000 crore for the next 5 years.
Bio Pharma Shakti is aimed at building at making ecosystem for biopharma and biosimilars, she said, presenting the Budget in the Parliament on Sunday.
Among other announcments, she proposed scaling up manufacturing in strategic and frontier sectors and developing city economic regions.
In her initial remarks, Finance Minister Nirmala Sitharaman said since her government assumed office, Indian economic trajectory is marked by fiscal discipline and sustained growth.
She stressed that the government led by Prime Minister Narendra Modi has chosen action over ambivalance, and reform over rhetoric, keeping Atmanirbharta or self-reliance as lodestar.
“Since we assumed office 12 years ago, India’s economic trajectory has been marked by stability, fiscal discipline, sustained growth and moderate inflation,” she said. She continued that India will balance ambition with inclusion going ahead.
Finance Minister Sitharaman presented her record ninth consecutive Union budget today in the Parliament.
