1 Feb : The Central government on Sunday proposed the development of seven high-speed rail corridors connecting key urban and economic centres across the country, as part of its broader push to strengthen infrastructure and support regional development.
Presenting the Union Budget 2026–27, Finance Minister Nirmala Sitharaman said the proposed corridors would serve as growth connectors by reducing travel time, lowering emissions and enabling faster, cleaner passenger movement between major cities.
The proposed routes include Mumbai–Pune, Pune–Hyderabad, Hyderabad–Bengaluru, Hyderabad–Chennai, Chennai–Bengaluru, Delhi–Varanasi and Varanasi–Siliguri. Together, these corridors are expected to link India’s financial hubs, technology centres, manufacturing clusters and emerging cities through improved mobility.
Push For Sustainable Transport Infrastructure
Underlining the government’s focus on environmentally sustainable transport systems, Sitharaman said, “To promote environmentally sustainable passenger systems, we will develop seven high-speed rail corridors between cities as growth connectors, namely Mumbai to Pune, Pune to Hyderabad, Hyderabad to Bengaluru, Hyderabad to Chennai, Chennai to Bengaluru, Delhi to Varanasi, Varanasi to Siliguri.”
The Finance Minister noted that the high-speed rail initiative would play a key role in supporting economic activity across regions while contributing to India’s climate and sustainability goals.
Banking Reforms, Investment And Textiles
Alongside the rail proposals, Sitharaman announced the setting up of a high-level committee on banking for Viksit Bharat. The committee will review the entire banking system and recommend reforms to support the next phase of India’s economic growth, while also focusing on financial stability, inclusion and consumer protection.
She also emphasised the strength of India’s financial sector, stating that Indian banks are now in a strong position, backed by healthy balance sheets, high profitability and improved control over non-performing assets.
For foreign investors, the Finance Minister said rules governing non-debt investments under foreign exchange laws will be reviewed to make them more modern and user-friendly, aligned with India’s evolving economic priorities.
In the labour-intensive textile sector, Sitharaman proposed an integrated programme with five key components. The first component is the National Fibre Scheme, which aims to achieve self-reliance in natural fibres such as silk, wool and jute, as well as man-made and new industrial-age fibres.
