The focus will be on strengthening traditional industries.
Budget 2026 Announcement: In Budget 2026, Finance Minister Nirmala Sitharaman has proposed a new scheme to revive 200 old industrial clusters. This is his ninth consecutive Union Budget. He said that to improve these old industries, infrastructure and technology will be upgraded so that their costs are reduced and their efficiency increases.
The Finance Minister said that it is important to strengthen traditional industries, because this sustains economic growth, protects jobs and supports the sectors that depend on these industries.
Small industries will get support
The Finance Minister said, I propose to bring a scheme to reinvigorate 200 old industrial clusters. Its objective is to reduce costs and increase efficiency by improving infrastructure and technology. Also, we have to create strong SMEs and support micro industries. He reiterated that reviving industrial clusters is vital to sustain growth, save jobs and support the areas dependent on these sectors.
important engine of development
The Finance Minister said, considering micro, small and medium industries as important engines of development, I propose a three-level strategy for them. A special SME growth fund of Rs 10,000 crore will be brought to create strong industries of the future. Apart from this, Rs 2,000 crore will be added to the Self-reliant India Fund launched in 2021, so that micro industries can continue to get risk capital. Nirmala Sitharaman also announced that the central government will focus on industry-led research and training centers to create new technologies and skilled workers. He said,
Proposal to take steps in 6 sectors
- Strengthening 200 industrial clusters is part of the government’s plan to make economic growth faster and stable by taking special steps in 6 sectors.
- First area: To increase manufacturing in seven strategic sectors, so that the production capacity of the country is strengthened.
- Second area: Building strong MSMEs.
- Fourth area: Strongly promoting infrastructure, as it is an important foundation of economic development.
- Area Five: Ensuring long-term security and stability.
- Sixth area: Development of economic zones of cities.
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