The Union Budget announced dedicated rare earth mineral corridors in Odisha, Kerala, Andhra Pradesh, and Tamil Nadu to support mining and processing. The government also plans to establish three chemical parks using a cluster-based model.
Presenting her ninth consecutive Budget for the Narendra Modi-led government, Sitharaman announced a major boost for Odisha, Kerala, Andhra Pradesh and Tamil Nadu with plans for dedicated rare earth mineral corridors.
Finance Minister Nirmala Sitharaman is presenting the Union Budget on a Sunday — only the second such instance after Yashwant Sinha delivered the Budget on February 28, 1999.
A scheme for rare earth permanent magnets was launched in November 2025. Building on that, the government now proposes to support mineral-rich states in establishing dedicated corridors to promote mining, processing, research and manufacturing.
To reduce import dependence and strengthen domestic chemical production, the Finance Minister also announced a plan to set up three chemical parks through a cluster-based, plug-and-play challenge route.
Ahead of the Budget presentation, Sitharaman collected the Budget tablet from the Finance Ministry and met President Droupadi Murmu at Rashtrapati Bhavan.