New Delhi [India], February 11 (ANI): Congress chief Shashi Tharoor on Thursday slammed the Union Budget as a ‘squandered alternative’, alleging that it ignores unemployment, rising residing prices, and inequality and provides little to handle the actual struggles and aspirations of the widespread man.
Initiating the talk in Lok Sabha on the Union Budget 2026-27, Tharoor additionally slammed the Interim Trade Agreement with the United States, stating that ‘it seems far much less like a free commerce settlement and way more like a pre-committed buy that overturns the very thought of reciprocity’.
‘How can one justify a so-called reciprocal tariff construction the place tariffs of 18 per cent apply on one facet and nil on the opposite? At a second when India’s whole bilateral commerce with the US is roughly 130 billion U.S. {dollars} and our commerce surplus is just about 45 billion US {dollars}, how have we undertaken to buy 500 billion US {dollars}’ price of American items over 5 years? This converts a surplus into a chronic deficit not by means of market forces, however by means of government assurances. No main financial system has ever voluntarily undermined its personal commerce leverage on this style,’ he stated.
‘While the United States continues to levy import duties of as much as 18 per cent, we seem – based mostly on the joint US-India assertion now circulating – to have agreed to slash our tariffs to near-zero ranges, open up agriculture, weaken information localisation norms, dilute mental property protections, and even redirect strategic power imports, notably away from Russia, to be able to meet buy commitments. This can’t be described as strategic balancing. It quantities to financial pre-emption,’ he added.
The Congress chief stated that Parliament has not been knowledgeable how farmers, MSMEs, and home trade can be safeguarded, nor why India has willingly relinquished its negotiating power with out securing proportionate market entry or coverage flexibility in return.
‘I’m conscious the Government will ask us to attend for the ultimate settlement anticipated in mid-March, however these issues exist in the present day and have to be acknowledged now. The Government’s declare that India has obtained a greater deal than China, Vietnam, or different Asian economies doesn’t bear scrutiny,’ he stated.
He stated whereas India could have obtained tariff reductions of 1 or two share factors, no East Asian financial system has agreed to intentionally erode its commerce surplus with the US by means of assured buy obligations.
‘In reality, China, Vietnam, and a number of other ASEAN nations have expanded their commerce surpluses with the U.S. even amid escalating commerce tensions. This ambiguity straight impacts the credibility of the Budget itself,’ he stated.
Tharoor stated the Government speaks endlessly of welfare, however its spending tells a really completely different story.
‘Media studies present that of the over Rs.5 lakh crore budgeted for 53 main welfare and infrastructure schemes final 12 months, barely 41 per cent was spent within the first 9 months of the fiscal 12 months. Take the Jal Jeevan Mission, allotted Rs.67,000 crore, it managed to spend an astonishingly low Rs.31 crore in 9 months. The much-touted PM Schools for Rising India Scheme spent solely Rs.473 crore out of Rs.7,500 crore,’ he stated.
‘More stunning of all, the Pradhan Mantri Anusuchit Jaati Abhyudaya Yojana, meant for the socio-economic upliftment of the Scheduled Castes, utilised merely Rs.40 crore out of Rs.2,140 crore. This isn’t governance, that is headline administration,’ he added.
He stated regardless of agriculture contributing 16 per cent to 17 per cent of GDP, it’ll obtain solely
three per cent of this Union Budget, 1.62 lakh crore, which is a 5.1 per cent minimize
from final 12 months’s 1.71 lakh crore.
‘This underinvestment is all of the extra alarming, given the existential threats going through Indian agriculture in the present day,’ he stated.
Tharoor stated any discourse on the employees of our nation stands incomplete with out a dialogue on MGNREGA, now changed by the bold VB-G RAM G Act.
‘It will increase assured workdays from 100 to 125 and introduces weekly wage funds, however on the similar time hollows out the authorized employment assure,’ he stated.
‘While MGNREGA was demand-driven, absolutely Centrally funded for unskilled wages, and rooted in decentralised planning, the brand new Act caps Central funding by means of State-wise normative allocations, shifts 40 per cent of wage prices to most States, and permits the scheme to be paused for as much as 60 days throughout peak agricultural seasons, thereby shrinking the actual window of assured work,’ he added.
Tharoor stated as soon as a State’s allocation is exhausted, staff’ statutory proper to employment successfully ends.
‘This converts an open-ended, rights-based programme right into a budget-restricted, Centrally rationed scheme the place fiscal ceilings override authorized entitlements,’ he stated.
Finance Minister Nirmala Sitharaman is anticipated to answer to the talk on Wednesday. (ANI)