Senior Congress leader P. Chidambaram criticized the Union Budget 2026-27, stating it lacked economic strategy and statesmanship. Chidambaram expressed disappointment in the budget speech, noting it ignored major challenges highlighted in the Economic Survey 2025-26. He highlighted ten critical challenges from the Economic Survey that were not addressed in the budget presentation.
Chidambaram pointed out various issues such as stress on manufacturers and exporters due to tariffs, trade conflicts impacting investment, and low Gross Fixed Capital Formation. He also mentioned concerns about fiscal deficits, inflation figures, and the struggles of small enterprises. The former Finance Minister criticized the budget’s financial management, citing discrepancies in revenue and expenditure figures.
The budget speech’s failure to address these issues led to a subdued response in Parliament, with minimal applause and audience engagement. Chidambaram particularly criticized the cuts in sectors affecting common people, including rural and urban development, social welfare, agriculture, education, and health. He also questioned the credibility of certain allocations and criticized the lack of bold fiscal prudence.
Chidambaram further criticized the proliferation of new schemes and initiatives, expressing skepticism about their long-term impact. He found the budget lacking in meaningful economic direction and leadership, focusing more on superficial announcements than addressing structural vulnerabilities and the needs of ordinary citizens.
