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Budget skirts issues listed by economic survey, says Congress
India Budget: Former finance minister P Chidambaram claimed that the budget failed to address the major challenges laid out in the economic survey, including the stress of the US penalty tariff, but showed “poor calculation of fiscal management” as well as reducing revenue expenditure for many key sectors. “Our verdict is that the budget speech and the budget fail the test of economic strategy and economic statesmanship,” Chidambaram said while presenting the Opposition’s perspective on the budget. he said. “The most serious criticism of the budget speech is that the finance minister does not tire of increasing the number of programmes, programmes, missions, institutes, initiatives, funds, committees, centres… I leave it to your imagination how many of these will be forgotten and disappear by next year,” he added.Alleging poor fiscal management in 2025-26, he said: “Revenue receipts were short by ₹78,086 crore, total expenditures were short by ₹1,00,503 crore. Revenue expenditures were short by ₹75,168 crore and capital expenditures were short by ₹1,44,376 crore (Central) by ₹25,335 crore and 1,19,041 crore) Not a single word has been said to explain this miserable performance. In fact, the Centre’s capital expenditure has fallen from 3.2% of GDP in 2024-25 to 3.1% in 2025-26.
He claimed that the budget speech did not address the challenges listed in the economic survey, including the stress of US punitive tariffs, the widening trade deficit, particularly with China, low Gross Fixed Capital formation, the uncertain foreign direct investment flow outlook, the slow pace of fiscal consolidation and the gap between inflation figures and ground realities.
Congress’s Rahul Gandhi posted on
He claimed that the budget speech did not address the challenges listed in the economic survey, including the stress of US punitive tariffs, the widening trade deficit, particularly with China, low Gross Fixed Capital formation, the uncertain foreign direct investment flow outlook, the slow pace of fiscal consolidation and the gap between inflation figures and ground realities.
Congress’s Rahul Gandhi posted on
West Bengal CM Mamata Banerjee said the budget was “directionless, visionless and missionless. The budget is anti-poor, anti-youth, anti-women and anti-farmer.” DMK’s Kanimozhi said: “Even the elections could not convince the BJP government to remember Tamil Nadu in this budget.”
