New Delhi: Union Minister for Railways, Electronics & Information Technology, and Communications, Shri Ashwini Vaishnaw, addressed a press conference in Bengaluru on Sunday, highlighting the strategic vision of the Union Budget 2026-27.
The Minister emphasized that this budget serves as a comprehensive roadmap for 2047, aiming to transform India into a developed nation through the three pillars of manufacturing, innovation, and inclusive development. He underscored significant incentives for the manufacturing sector, particularly high-tech industries, including key initiatives such as Indian Semiconductor Mission 2.0. The next phase of the Indian Semiconductor Mission is being designed to strengthen India’s position in global chip manufacturing.
Minister Vaishnaw highlighted the substantial increase in allocation for electronics manufacturing, from ₹22,000 crore to ₹40,000 crore, noting that Karnataka is a primary beneficiary, having already attracted nearly ₹10,000 crore in investments in its component sector.
The government will also focus on biopharma, advanced tool rooms, container manufacturing for shipping, and the development of rare-earth permanent magnets. He noted that the IT industry is undergoing a significant shift from traditional software models to AI-driven services, and the budget simplifies tax structures for the IT sector to promote this transition. To support AI infrastructure, regulations for data centers have been simplified, ensuring equal treatment for domestic and foreign investors.
On railways, Minister Vaishnaw detailed major developments in Karnataka’s railway infrastructure, with a record allocation of ₹7,748 crore, nearly 9 times the average allocation between 2009-2014. Following electrification and safety certification, a new Vande Bharat service connecting Bengaluru and Mangaluru will soon be launched.
Two high-speed rail projects, Bengaluru-Chennai and Bengaluru-Hyderabad, have been approved. The Bengaluru-Chennai route is expected to take just 73 minutes, while Bengaluru-Hyderabad will take approximately 2 hours. On the progress of the Bengaluru suburban railway, the Minister highlighted that all four corridors are moving forward rapidly under new technical leadership and the use of innovative pre-cast construction methods.
Concluding his address, Minister Vaishnaw emphasized that these initiatives prioritize long-term structural reforms over short-term solutions, laying a strong foundation for India’s economic future.