Union Minister for Chemical and Fertilizers, J. P. Nadda, has lauded the Union Budget 2026-27 presented by Union Minister of Finance & Corporate Affairs Nirmala Sitharaman in the Parliament as a ‘Vikasit Bharat Budget’.

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 Rs. 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,” added Nadda. 

Minister of State for Chemicals & Fertilisers 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 Rs. 10,000 crore ‘Biopharma Shakti’ initiative to three new National Institutes of Pharmaceutical Education 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 added Patel.