Shri Ashwini Vaishnaw, Hon'ble Minister for Railways, Electronics & IT and Information & Broadcasting, addressed a press conference today in Bengaluru highlighting the strategic vision of the Union Budget-2026-27.

The Minister emphasized that the budget serves as a comprehensive Roadmap for 2047, aiming to transform India into a developed nation through three primary pillars: Manufacturing, Innovation, and Inclusive Growth.

The Minister emphasised upon the major boost being given to the manufacturing sector, particularly in high-tech industries. Key announcements such as, Indian Semiconductor Mission 2.0 has been announced in this budget. The next phase of the India Semiconductor Mission will soon be formulated to reinforce India’s position in global chip manufacturing.

The Minister highlighted the significant increase in the outlay for electronic components manufacturing from ₹22,000 crore to ₹40,000 crore. Karnataka remains a major beneficiary, with approximately ₹10,000 crore in investments already flowing into the state’s component sector, said the Minister.

The Minister said that, the Government will focus on Biopharma, High-Tech Tool Rooms, Container Manufacturing for shipping and the development of Rare Earth Permanent Magnets.

The Minister stated that the IT industry is witnessing a significant shift from traditional software models to AI-based services. To support this, the budget simplifies tax structures for the IT sector. To provide the infrastructure for AI, the Government has simplified regulations for data centres, treating domestic and foreign investors at par.

Sharing the details of transformative Railway Infrastructure in Karnataka, the Minister said, record-breaking railway budget of ₹7,748 crore for Karnataka has been announced which is 9 times the average allocation seen during the 2009-2014 period. A new Vande Bharat service will soon connect Bengaluru to Mangaluru following the completion of electrification and safety certifications.

Two major high-speed rail projects originating from Bengaluru to Chennai and Bengaluru to Hyderabad—have been approved. The Bengaluru-Chennai journey is expected to take just 73 minutes and Bengaluru- Hyderabad 2hrs approx.

Explaining the progress of Bengaluru Suburban Railway, the Minister noted that work on all four corridors is progressing rapidly under new technical leadership, utilizing innovative "pre-cast" construction methods.

The Minister concluded by reiterating that these initiatives prioritize long-term structural reforms over short-term fixes, ensuring a resilient foundation for India's economic future.

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SGR/ND

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