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What is the capital of the newly proposed state economic development zone announced in the 2026 Union Budget?
GIFT City
New Delhi
Mumbai
Bengaluru
GIFT City
Union Budget 2026-27 designates GIFT City as the focal point for the newly proposed state economic development zone to boost international financial services.
The 2026-27 Union Budget introduced a strategy to enhance regional economic competitiveness through targeted zone-based development. By designating GIFT City, located in Gujarat, as the capital of this economic zone, the government aims to consolidate India's position as a premier global financial hub. This initiative is part of a broader fiscal roadmap focusing on increased capital outlay and structural reforms to attract foreign direct investment. The move aligns with the national goal of fostering ease of doing business in specialized financial ecosystems.
GIFT City stands for Gujarat International Finance Tec-City, India's first operational smart city and international financial services centre. It operates under the jurisdiction of the International Financial Services Centres Authority (IFSCA), a statutory body established under the IFSCA Act, 2019, to regulate financial products and services.
Capital of proposed economic development zone: GIFT City
Union Budget 2026-27 total expenditure target: Rs 53,47,315 crore
Proposed capital outlay for 2026-27: Rs 9,43,042 crore
Targeted disinvestment receipts for 2026-27: Rs 80,000 crore
A is correct тАФ GIFT City has been officially announced as the capital of the newly proposed state economic development zone in the 2026-27 Union Budget.
Remember that GIFT City is synonymous with the IFSC in India; just as Mumbai is the commercial capital, GIFT City serves as the administrative and regulatory capital for international financial trade zones.
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