Budget 2026–27 Historic, Futuristic; Northeast Gets Major Push: Shivraj Singh Chouhan

In Guwahati, the message from the Centre was loud and clear — the Union Budget 2026–27 is not just another financial document. It is, in the words of Union Minister Shivraj Singh Chouhan, both “historic and futuristic,” designed to power India’s journey towards a developed nation while giving the Northeast a decisive development push.

Addressing a press conference in the city, the Union Minister for Rural Development and Agriculture & Farmers Welfare laid out what he described as a transformative roadmap — one that strengthens farmers, boosts rural infrastructure, enhances research, and prioritises inclusive growth, especially for states like Assam.

A Budget Anchored in the Vision of Viksit Bharat

At the heart of the Union Budget 2026–27 is the vision of Viksit Bharat — a developed, self-reliant, empowered India by 2047. Chouhan emphasised that the Budget has been crafted with inclusive growth at its core, ensuring that the benefits of development reach every section of society.

According to him, the allocations reflect not only ambition but intent — to build strong foundations in agriculture, healthcare innovation, rural development, and regional empowerment.

Stronger Commitment to the Northeast

One of the most significant announcements for the region was the increased allocation to the Ministry of Development of North Eastern Region (MDoNER).

• ₹6,812 crore has been allocated for FY 2026–27

• This is ₹897 crore more than the previous budget

The enhanced allocation signals the Centre’s clear priority towards accelerating development in the Northeast. Chouhan underlined that sustained and higher investments in the region are critical for bridging infrastructure gaps, boosting economic activity, and unlocking its vast potential.

For Assam specifically, the numbers are equally significant:

• ₹49,725 crore has been budgeted towards tax devolution for FY 2026–27

• Since 2014, Assam has received approximately ₹3.12 lakh crore through tax devolution

This steady fiscal flow, the Minister said, has helped strengthen the state’s financial base and enabled large-scale development initiatives.

Healthcare Innovation: Biopharma SHAKTI and a Boost to Research

A major highlight of the Budget is the launch of Biopharma SHAKTI (Strategy for Healthcare Advancement through Knowledge, Technology and Innovation).

• ₹10,000 crore outlay over five years

• Focus on strengthening domestic capabilities in biologics and biosimilars

• Aimed at addressing the rising burden of non-communicable diseases

As part of this initiative, existing institutions such as National Institute of Pharmaceutical Education and Research Guwahati (NIPER Guwahati) will be upgraded. The move is expected to enhance research capabilities, foster innovation, and create skilled manpower in the region — positioning Assam as a growing hub for pharmaceutical research and biotech advancement.

For the startup ecosystem in healthcare and biotech, this could create new collaboration and innovation opportunities in the coming years.

Agriculture at the Centre: Higher Budget, Stronger Support

The Union Budget 2026–27 significantly increases the allocation for agriculture, reinforcing the Centre’s commitment to farmers’ welfare.

• ₹1,32,561 crore allocated for agriculture this year

• ₹9,967 crore earmarked for agricultural education and research

• ₹1,70,944 crore allocated for fertiliser subsidy

The fertiliser subsidy aims to ensure affordable inputs for farmers and reduce production costs — a critical intervention at a time when input prices directly impact rural incomes.

Chouhan highlighted that strengthening scientific research, innovation, and education in agriculture is key to making farming more productive, resilient, and sustainable.

Rural Development Sees 21% Increase

The Ministry of Rural Development has also received a significant boost, with a 21 per cent increase in its budget allocation this year.

Within this, a provision of over ₹1.51 lakh crore has been made for the ‘VB - G RAM G’ Act, compared to ₹86,000 crore under the previous MGNREG Act.

The enhanced allocation underscores a strong push toward rural employment, infrastructure creation, and village-level transformation — aligning with the larger goal of empowering rural India.

Big Relief for Assam’s Farmers: MSP Procurement Approved

In a direct and immediate relief measure for farmers in Assam, the Minister announced that the Ministry of Agriculture & Farmers’ Welfare has approved the state government’s proposal to procure:

• 60,500 metric tonnes (MT) of Rapeseed/Mustard

• For Rabi 2026 season

• At Minimum Support Price (MSP) under the Price Support Scheme

This approval ensures that farmers receive remunerative prices and are protected from distress sales. For oilseed growers in Assam, this move offers both price assurance and income stability during the Rabi marketing season.

Additionally, ₹104.17 crore has been allocated to Assam for FY 2026–27 under the Mission for Aatmanirbharta in Pulses — further strengthening the state’s agricultural self-reliance push.

A United State-Centre Presence

The press conference was also attended by Atul Bora, Agriculture Minister of Assam, and Krishnendu Paul, Minister for Animal Husbandry and Veterinary, Assam — underscoring coordinated Centre-state efforts in implementing the Budget’s agricultural and rural initiatives.

Taken together, the Union Budget 2026–27 sends a clear signal:

• Higher allocations for the Northeast

• Expanded rural development spending

• Strong agricultural backing

• Healthcare innovation through biotech investments

• Direct MSP intervention to protect farmers

In Guwahati, the narrative was not just about numbers — it was about intent. The Centre is positioning the Northeast, particularly Assam, as an important pillar in India’s journey toward a self-reliant and developed nation by 2047.

If implemented effectively, the measures announced could reshape rural incomes, strengthen research ecosystems, and accelerate regional growth — making this Budget not just historic in claim, but potentially transformative in impact.