New Delhi [India], February 1 : BJP National President Nitin Nabin on Sunday hailed Union Budget 2026-27, calling it a 'Sankalp se siddhi' (accomplishment through resolution) for Viksit Bharat 2047.
Nitin Nabin lauded the proposals in the manufacturing sector and said that they will create new avenues for employment.
The BJP chief said, "I welcome the budget drafted in Kartavya Bhavan. Finance Minister Nirmala Sitharaman, presenting the budget for the ninth time reflect BJP's policy sustainability and good governance. This budget signifies public trust for Prime Minister Modi. PM Modi's principle of 'Sabka Sath, Sabka Vikas' is reflected in the budget. Also, this is a 'Sankalp se siddhi' budget for Viksit Bharat 2047."
"Even amid global turmoil, India is growing at 7 per cent. This shows how we have strengthened our GDP and controlled inflation. There is a depth in the budget. This is a youth-driven budget. Manufacturing units are being promoted, and new avenues of employment are being created. Rs 40,000 crore in semiconductor and Rs 10,000 crore in bio pharma reflects the mindset that we are heading towards new avenues of employment," he added.
Earlier today, Finance Minister Nirmala Sitharaman announced the launch of India Semiconductor Mission (ISM) 2.0, with a Rs 40,000 crore outlay, aiming to boost the country's semiconductor ecosystem.
This initiative focuses on producing equipment and materials, designing full-stack Indian intellectual property, and strengthening supply chains.
Giving a boost to manufacturing, the Finance Minister proposed a basic customs duty exemption to capital goods used for manufacturing lithium-ion cells for batteries and critical minerals.
Union FM Nirmala Sitharaman said, "I propose to extend the basic customs duty exemption on import of goods required for nuclear power projects till 2035 and expand it for all nuclear plants irrespective of their capacity."
"I propose to extend the basic customs duty exemption given to capital goods used for manufacturing lithium-ion cells for batteries to those used for manufacturing lithium-ion cells for battery energy storage systems also. I propose to exempt the basic customs duty on the import of sodium antimonate for use in the manufacturing of solar glass. It is proposed to provide basic customs duty exemption to the import of capital goods required for the processing of critical minerals in India," the Finance Minister added.
The customs duty exemptions and aid to export come after the United States President Donald Trump imposed 50 per cent tariffs on imports of Indian goods, affecting the Indian textile, seafood and other exports.
FM Sitharaman presented the Union Budget for the record ninth time.