▶Multiple sources confirm the launch of the "India Semiconductor Mission 2.0" (ISM 2.0) to build domestic capacity in semiconductor equipment, materials, and intellectual property design.

▶The "Biopharma Shakti" initiative is consistently presented as a key policy, with a 10,000 crore outlay over five years to establish India as a global biopharmaceutical manufacturing hub, including creating a network of 1,000 clinical trial sites.Apr 2026

▶There is a clear consensus on the strategy of driving growth through a massive increase in public capital expenditure, with the proposed allocation rising to 12.2 lakh crores for the 2026-27 fiscal year.Apr 2026

▶A recurring long-term economic goal articulated by Sitharaman is for India's service sector to capture a 10% share of the global market by the year 2047.Apr 2026

▶The increase in the Securities Transaction Tax (STT) on derivatives is framed as a measure to curb harmful speculation, but this could be debated as a policy that raises transaction costs, potentially harming market liquidity and discouraging retail participation.

▶The massive 12.2 lakh crore capital expenditure is presented as a crucial growth driver, but the corresponding high level of gross market borrowings (17.2 lakh crore) could spark debate over the risk of crowding out private investment and the long-term sustainability of the national debt.

▶The policy to tax stock buybacks as capital gains for all shareholders is positioned as a move for tax equity, while critics might argue it disincentivizes an efficient method for companies to return capital to investors.

▶The creation of dedicated, heavily funded schemes for specific industries like rare earths, container manufacturing, and biopharma represents a strategic industrial policy, which could be debated against a more market-led approach to resource allocation and economic development.