Budget 2026: Union Finance Minister Nirmala Sitharaman has announced seven high-speed rail corridors linking major cities, including Mumbai-Pune, Pune-Hyderabad, Hyderabad-Bengaluru, Hyderabad-Chennai, Chennai-Bengaluru, Delhi-Varanasi and Varanasi-Siliguri.
She stated that Rs 12.2 lakh crore is being allocated for infrastructure development, higher than last year’s Rs 11.2 lakh crore.
During the Budget speech, the Finance Minister has also proposed incentives for states rich in mineral resources. She stated that a special mining mission would be established with Andhra Pradesh, Odisha, Kerala, and Tamil Nadu. She also stated that a world-class container manufacturing corporation would be set up.
Reacting to the announcement, Saket Mehra, Partner, Auto and EV, Grant Thornton Bharat said, “Finance Minister’s announcement to develop industrial corridors across Odisha, Karnataka, Andhra Pradesh, and Tamil Nadu reinforces the government’s vision to reduce import dependency for manufacturing components critical to the EV ecosystem. This development will accelerate the rollout of the INR 7,280‑crore scheme announced in 2025, which aims to expand India’s capabilities from mining to the entire value‑chain system, strengthening domestic manufacturing and enabling end‑to‑end value creation.”