FM announces Biopharma SHAKTI initiative with ₹10,000 cr outlay

While presenting the Union Budget 2026-27, Finance Minister Nirmala Sitharaman said India's disease burden is shifting towards non-communicable diseases like diabetes, cancer, and autoimmune disorders. She announced a new initiative, Biopharma SHAKTI, with an outlay of ₹10,000 crore over the next five years. The government aims to boost India's production of biologics and biosimilars.