Budget 2026: Focus on rare earths, tech need of the hour, says Manu Chandra

What is the best thing about the Budget?

 

I think the focus on creating self-sustainable manufacturing of rare earths and semiconductors in an age where our dependence on them is at peak; as is our dependence on sourcing them from outside. It’s the sort of edge we need to keep up our development agenda. As is the focus on emerging technologies. 

 

I also like the fact that places of historical significance will be developed into tourism hubs. 

 

Will the Budget help India navigate global challenges, such as Trump’s tariffs?

 

I don’t see a major push in expanding export markets in this Budget. The trade with the US that’s come under the threat of tariffs will need a lot more than what’s laid out in this Budget to alleviate that stress. But, hopefully, other policies will give rise to newer exports and markets. 

 

Will the Budget help India achieve its Viksit Bharat goal by 2047?

 

We’re still 20 years away from that, so here’s hoping that it does happen. Closing the gap on the fiscal deficit whilst continuing development and a push on infrastructure and education would be key in the long term – though the boost to the services sector will definitely help with the growth of that segment.

 

How do you think the Budget addresses issues like climate change and environmental sustainability?

 

Besides carbon capture incentives, I didn’t really find much in that space. I wish there was more attention paid to afforestation, sustainability, and ecofriendly materials. 

 

Do you believe the Budget adequately allocates funds to important social programmes like education and healthcare?

 

I don’t think it’s adequate. There’s a scale down on export duties on medicines of a certain kind; push on Ayurveda institutes; and some mention of a tourism and medical tourism-based education. But we need a lot more for both primary healthcare and education.