Anuradha Thakur, speaking on Sunday amid recent market volatility following the Union Budget 2026 presentation, assured that the center and the Reserve Bank of India (RBI) are vigilantly tracking rupee movements along with sharp fluctuations in gold and silver prices, ready to deploy necessary measures to protect macroeconomic stability. This comes as gold and silver witnessed dramatic swings on Budget Day, with prices dipping significantly after hitting record highs earlier.
Thakur emphasized the government’s proactive stance: “As far as the rupee or the increase in prices of silver and gold is concerned, our job as a government and with the RBI as the main regulator is to monitor these developments and, from time to time, use the instruments available under rules, regulations, and laws.” She described stabilizing the rupee within an appropriate range as a “delicate exercise,” underscoring the need for balanced interventions to curb excessive volatility while supporting economic fundamentals.
Shifting focus to manufacturing, Thakur highlighted substantial advancements since 2014, driven by flagship programs like Make in India and Production-Linked Incentive (PLI) schemes. The recent Union Budget reinforces this trajectory, establishing a robust base for sustained long-term growth. Key highlights include the launch of Semiconductor Mission 2.0 (ISM 2.0), which builds on the initial phase by emphasizing equipment and materials production, full-stack Indian intellectual property design, supply chain fortification, and industry-led research and training centers to build technology and skilled talent. With a dedicated provision of Rs 1,000 crore for FY 2026-27 and increased outlays for electronics components manufacturing, these steps aim to position India as a global leader in semiconductors and advanced electronics.
Thakur expressed strong optimism about equity markets, noting that the budget outlines concrete measures to bolster medium- and long-term growth prospects through partnerships with the private sector in areas like medical hubs and university townships. “I am quite confident that the market will recover,” she stated, attributing temporary dips to cyclical factors.
On foreign portfolio investments (FPI), she explained that outflows represent inherent cyclical behavior, influenced by profit booking and higher interest rates in select global markets pulling capital elsewhere. However, she reaffirmed India’s strong long-term outlook as detailed in the budget, predicting eventual recovery and continued expansion as growth drivers take hold.
This statement arrives against a backdrop of heightened market activity post-budget, where precious metals experienced extreme volatility—gold and silver futures saw sharp corrections after soaring to peaks, reflecting global cues, dollar strength, and domestic sentiment. The government’s monitoring reassures investors of readiness to act, balancing currency stability with growth priorities in manufacturing and beyond.
Overall, Thakur’s remarks signal confidence in India’s economic resilience, with policy tools poised to navigate short-term pressures while advancing structural reforms in key sectors like semiconductors and manufacturing for enduring prosperity.
