Finance Minister Nirmala Sitharaman on Sunday announced government support for mineral-rich states, including Kerala, to establish rare earth corridors as she presented the Union Budget for 2026-27 in the Lok Sabha.

The proposed corridors will promote mining, processing, research and manufacturing in the rare earth sector, with Kerala named alongside Odisha, Andhra Pradesh and Tamil Nadu.

Reforms over rhetoric, says finance minister

Presenting the Budget, Sitharaman said the government has chosen the path of reforms over rhetoric.

She said India will continue to take steps towards becoming a Viksit Bharat, underlining the Centre’s long-term development approach.

Finance Commission report tabled in Lok Sabha

During the Budget presentation, the finance minister also laid the 16th Finance Commission report.

The report outlines tax revenue devolution between the Centre and the states for the period from 2026 to 2031, setting the framework for fiscal transfers over the next five years.

Ninth consecutive Budget for Sitharaman

This Union Budget marks Sitharaman’s ninth consecutive Budget presentation.

The achievement brings her closer to the record of 10 Budgets presented by former Prime Minister Morarji Desai across different time periods.