Union Finance Minister Nirmala Sitharaman on Sunday presented Union Budget 2026 and said India will develop seven high-speed rail corridors between cities. She said operationalise 20 new national waterways over the next five years and starting with National Waterways 5 in Odisha to connect mineral rich areas of Talcher and Angul and industrial centers like Kalinganagar to the ports of Paradip and Dhamra.
Will develop 7 high-speed rail corridors: FM Sitharaman
"In order to promote environmentally sustainable passenger systems, we will develop 7 high-speed rail corridors between cities as growth connectors: Mumbai to Pune, Pune to Hyderabad, Hyderabad to Bengaluru, Hyderabad to Chennai, Chennai to Bengaluru, Delhi to Varanasi, Varanasi to Siliguri," she said.
A ship repair ecosystem to be set up at Varanasi and Patna
Sitharaman said, " I propose to one establish new dedicated freight corridors connecting Dankuni in the East to Surat in the West. Operationalise 20 new national waterways over the next five years. Starting with National Waterways 5 in Odisha to connect mineral rich areas of Talcher and Angul and industrial centers like Kalinganagar to the ports of Paradip and Dhamra. Training institutes will be set up as regional centers of excellence for development of required manpower for these waterways. This will benefit youth in the entire stretch of the waterways to train and acquire skills. Further, a ship repair ecosystem catering to inland waterways will also be set up at Varanasi and Patna."
"We proposed the development of seven high-speed rail corridors as part of efforts to boost connectivity and infrastructure in India. Key routes include: Mumbai to Pune; Pune to Hyderabad; Hyderabad to Bengaluru; Bengaluru to Chennai. Additional corridors are planned to further strengthen regional connectivity and economic growth across the country under the Union Budget 2026-27"
She said the Centre will continue to develop infrastructure in cities with over 5 lakh population, that is, tier 2 and tier 3 cities." FM Sitharaman also proposed to set up a Rs 10,000 crore fund to create champion small and medium enterprises (SMEs) to boost the economy.
Presenting Union Budget 2026-27, she also proposed a scheme for container manufacturing to create globally competitive ecosystem. Also, mega textile parks with focus on value addition to technical textiles would be set up. The budget also proposed setting up mega textile parks with focus on value addition to technical textiles and an integrated textile programme with five sub-parts, she stated.
The finance minister said India has the potential to emerge as a global hub for high-quality affordable sports goods. She also proposed Mahatma Gandhi Gram Swaraj initiative to strengthen Khadi handloom. Besides, there would be a scheme to revive 200 legacy industrial clusters.
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