Budget 2026: Sitharaman announces new scheme for Buddhist circuit
What's the story
Finance Minister Nirmala Sitharaman has announced a new scheme to develop a Buddhist circuit in the northeastern region of India. The initiative is aimed at preserving and establishing temples and monasteries, thereby promoting tourism in the area. The announcement was made during Sitharaman's presentation of the Union Budget 2026 on February 1. The finance minister also announced a budget allocation of ₹5,000 crore for the development of CITY Economic Regions (CERs) over five years.
Development plan
Provisions for 4,000 e-buses announced
The announcement comes as part of a larger plan to boost infrastructure and connectivity in eastern India under the Purvodaya initiative. The Purvodaya initiative is the central government's vision for the rapid development of Eastern India. Under this plan, Sitharaman announced that five tourism destinations will be created in five Purvodaya states. The finance minister also announced provisions for 4,000 e-buses to promote eco-friendly transportation in these areas.
Policy focus
Northeast at center of policy says Sitharaman
Sitharaman emphasized that the northeastern region has been given top priority by the Central government in terms of infrastructure, investments, skill development, and digital expansion. She said, "Northeast has been kept at the center of policy when you're looking at development, skills, investments." The region is now supported by stronger connectivity, improved digital infrastructure, and widening market access.
Infrastructure development
Rapid upgrades in infrastructure in northeastern region
The northeastern region, which has lagged in terms of infrastructure for decades, is now witnessing rapid upgrades in highways, airports, digital networks, and logistics. Sitharaman said, "Capacities have been ramped up... and digital capabilities are catching up very fast." She added that the region's strategic location makes it a key partner in India's engagement with Southeast Asia.
Presidential remarks
President Murmu calls for rapid development in eastern regions
On January 28, President Droupadi Murmu addressed both Houses of Parliament and stressed the need for rapid development in the eastern and northeastern regions of India. She said, "After Independence, the progress of India got momentum from a few cities and regions." The President also spoke about Assam's potential to become a global hub for semiconductor chips.