The Union Budget 2026-27, lauded by Union Minister Sh. JP Nadda, has been presented by Union Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman in the Parliament as a 'Vikasit Bharat Budget' with a long-term vision under the leadership of Prime Minister Shri Narendra Modi. The budget includes a proposed outlay of ₹10,000 crore over the next five years for the Biopharma Shakti Initiative, aiming to enhance domestic production of advanced biologic medicines and biosimilars, and includes the establishment of three new institutes and the upgradation of seven existing institutes, as well as the establishment of three new dedicated Chemical Parks in states. The Minister of State for Chemicals & Fertilisers Smt. Anupriya Patel has welcomed the budget and highlighted the allocation of ₹10,000 crore for the ‘Biopharma Shakti' initiative, the establishment of three new National Institutes of Pharmaceutical Education and Research (NIPERs), and a new NIMHANS in North India.
Key Entities Referenced
Union Budget 2026-27: The subject of the article; a budget presented in Parliament with focus on the pharmaceutical sector.
Biopharma Shakti Initiative: A government initiative with an outlay of ₹10,000 crore to enhance domestic production of advanced biologic medicines and biosimilars.
Ministry of Chemicals and Fertilizers: The ministry responsible for the Department of Pharmaceuticals and related policies.
NIPERs (National Institutes of Pharmaceutical Education and Research): National Institutes of Pharmaceutical Education and Research.
Ministry of Chemicals and Fertilizers :
Department of Pharmaceuticals
Union Budget 2026-27- A New Era for Pharma
Sector under the leadership of PM Modi: Union
Minister Sh. JP Nadda
Budget reflects the Government’s strong commitment to ‘A
Developed and Self-Reliant India’: MoS Smt. Anupriya Patel
प्रव तथ: 01 FEB 2026 6:28PM by PIB Delhi
Union Minister for Chemical and Fertilizers, Sh. J. P. Nadda, has lauded the Union Budget 2026-27
presented by Union Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman in the Parliament
today as a ‘Vikasit Bharat Budget’ with a long-term vision under the leadership of Prime Minister Shri
Narendra Modi.
Commending the emphasis on advancing the Biopharmaceutical ecosystem in the country, the Minister
has stated, “Under the Biopharma Shakti Initiative, the Government has proposed an outlay of ₹10,000
crore over the next five years. This will enhance domestic production of advanced biologic medicines and
biosimilars. Establishment of three new institutes and the upgradation of seven existing institutes will
usher in a new era of growth, innovation, and global competitiveness for India’s pharmaceutical sector.
Three new dedicated Chemical Parks in states will enhance domestic chemical production” he added.
Minister of State for Chemicals & Fertilisers Smt. Anupriya Patel, while welcoming the Union Budget
2026-27, said that “this budget marks the beginning of a new era in the Health and Pharma sector. From
the ₹10,000 crore ‘Biopharma Shakti’ initiative to three new National Institutes of PharmaceuticalEducation and Research (NIPERs) and a new NIMHANS in North India, this Budget reflects the
Government’s strong commitment to ‘a Developed and a Self-Reliant India’
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