The Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, presented the Union Budget 2026-27 in Parliament today, outlining initiatives aimed at strengthening education, research, and the services sector.

A High-Powered ‘Education to Employment and Enterprise’ Standing Committee will be set up to recommend measures for the services sector, considered a core driver of India’s economic growth.

The committee will focus on enhancing employment, exports, and global competitiveness, with an aim to capture a 10% share in the global services market by 2047. It will also study the impact of emerging technologies, including artificial intelligence, on jobs and skills.

To support design education, the Budget proposes a new National Institute of Design in eastern India, to be established through a challenge route. The move aims to address the growing demand for skilled designers in the country.

The government also plans to create five university townships near major industrial and logistic corridors. These townships will host universities, research institutions, skill centres, and residential facilities, fostering integrated academic and industrial development.

Recognising challenges faced by female students in STEM fields, the Budget proposes one girls’ hostel in every district through Viability Gap Funding or capital support.

In addition, four telescope infrastructure facilities – the National Large Solar Telescope, the National Large Optical Infrared Telescope, the Himalayan Chandra Telescope, and COSMOS 2 Planetarium – will be set up or upgraded to promote astrophysics and astronomy research.

These initiatives reflect a focus on education, skill development, research, and technology as part of India’s long-term growth strategy.