Congress leader P. Chidambaram criticized the Union Budget 2026-27 in the Rajya Sabha, highlighting India’s 15% youth joblessness and low workforce in regular employment. He questioned the government’s handling of key economic challenges outlined in the Economic Survey, including capital investment, unemployment, and slow growth. Chidambaram pointed out stagnant capital formation, low FDI, and sluggish private investment despite cash reserves.
The former Finance Minister criticized the government for reducing capital expenditure without clarity and a lack of substantial investments across sectors. He expressed concern over the high youth joblessness rate and the limited number of people in regular employment. Chidambaram noted a trend towards self-employment and agriculture, with a minimal workforce in manufacturing compared to the country’s population.
Chidambaram also criticized the PM Internship Scheme, citing low acceptance rates and retention numbers, urging the Finance Minister to address the issue. He accused the Budget of neglecting crucial sectors like defense, science, and social welfare, with unfulfilled promises from the previous year. The Congress leader questioned the government’s growth projections, highlighting a decline in GDP growth and fiscal deficits, attributing budget stability to expenditure cuts and RBI dividends.
