New Delhi: Finance Minister Nirmala Sitharaman unfolded the record ninth budget in a row in India on Sunday, February 1. Sitharaman announced an allocation
of Rs 10,000 crore to boost Small and Medium Enterprises (SMEs) as a part of the Union budget 2026.
Sitharaman underlined the importance of the SME sector in India’s economic framework. The small and medium businesses are a vital cog in the contribution of India’s business landscape and economic growth.
The fund of Rs 10,000 crore will enhance the support and provide facilities to achieve their capital and growth opportunities. The announcement reflects the government’s support towards smaller businesses across various sectors of the Indian economy.
Other focus areas in Budget 2026:
The Finance Minister also proposed a scheme for container manufacturing to build a value network and a competitive ecosystem.
Additionally, the budget proposed setting up major mega textile parks with a focus on technical textiles’ value addition. The integrated programme will be divided into five sub-parts.
She also pointed out that India has an upper hand in becoming the global hub for high-quality, affordable sports goods.
To strengthen the handloom, the Finance Minister proposed a new initiative called the Mahatma Gandhi Gram Swaraj initiative. A scheme also unfolded to revive 200 legacy industrial clusters.
