New Delhi: Finance Minister Nirmala Sitharaman on Sunday proposed an allocation of ₹20,000 crore for a carbon capture and utilisation scheme across key sectors such as steel and cement, as part of the Union Budget for 2026-27. In a bid to promote tourism, the government will also extend incentives for the domestic manufacturing of seaplanes, she said.

Among the infrastructure initiatives, the minister announced plans to develop seven high-speed corridors connecting major cities, alongside the creation of a ship repair ecosystem for inland waterways, to be established in Varanasi and Patna.

Also Read | Budget 2026: High-tech tool rooms, container manufacturing and chemical parks announced 

Turning to the financial sector, Ms Sitharaman highlighted the Indian banking industry’s strong balance sheets, record profitability, and improved asset quality. To build on this momentum, she said a high-level committee on ‘Banking for Viksit Bharat’ will be set up to chart the next phase of reform-led growth.