Vedanta Chairman Anil Agarwal lauded the presentation of the Union Budget 2026-27, calling it a growth-focused plan that emphasised capital expenditure and manufacturing capabilities, while targeting youth and women. He hailed certain initiatives proposed by the Finance Minister Nirmala Sitharaman and congratulated her and Prime Minister Narendra Modi for supporting the Indian economy amid uncertain times.
FM Nirmala Sitharaman presented the Union Budget for fiscal 2026-27 on Sunday, 1 February 2026, during the budget session of the Parliament.
In a post on the social media platform X, Agarwal said, “A growth-oriented Budget, with a clear focus on increasing public capital expenditure and boosting manufacturing. It is a Budget which creates opportunities for youth to improve their livelihoods, for women to become financially independent and for employment-intensive sectors like medical tourism to take off.”
Agarwal lauds budget proposals on capex, rare earths
The Vedanta Chairman also appreciated the government's proposal to focus on critical minerals and rare earths, including corridors in key states, which is expected to promote growth and job creation.
Agarwal further wrote, “I welcome the Government's keen attention to critical minerals and rare earths. The Rare Earths Corridors for mining, processing, R&D, and manufacturing in Odisha, Tamil Nadu, Andhra Pradesh, and Kerala will boost growth, employment, and mineral security. Import duty exemption on capital goods for critical minerals processing is very timely in the current global scenario."
Adding on its ₹7,280-crore incentive package for manufacturing rare-earth magnets in India, the Finance Minister in her budget speech proposed to create four rare-earth mineral corridors in Odisha, Kerala, Andhra Pradesh, and Tamil Nadu.
Meanwhile, as a one-time measure, manufacturing units in Special Economic Zones (SEZs) will be allowed to sell a limited proportion of their output into the Domestic Tariff Area at concessional duty rates, addressing capacity underutilisation caused by global trade disruptions.
“The announcement on flexibility in SEZs, which will permit some sales in the domestic market, is an excellent move,” Agarwal said.
Praising PM Modi and FM Sitharaman, Agarwal said, “I congratulate the Prime Minister @narendramodi and Finance Minister @nsitharaman for continuing to steer the Indian economy with a very steady hand in uncertain times.”
