Union Budget lacks same level of ambition as US, Chinese economies: Gaurav Gogoi

Speaking on the budget, Gogoi said, “Given its absolute power, the government appears to believe a budget for growth and development is unnecessary. Countries such as the US, the EU, and China have aggressive economic policies, and in comparison, this budget does not reflect the same level of ambition.”

Earlier today, Congress leader Rahul Gandhi slammed the Union Budget 2026-2027, saying it is blind to India’s real crisis and refuses course correction.In a post on X, he said manufacturing is falling, investors are pulling out capital and household savings are plummeting. Gandhi, who is the Leader of the Opposition in the Lok Sabha, also alleged that farmers are in distress.

“Youth without jobs. Falling manufacturing. Investors pulling out capital. Household savings plummeting. Farmers in distress. Looming global shocks – all ignored. A Budget that refuses course correction, blind to India’s real crises,” he said.Congress leader Jairam Ramesh termed the budget as “lacklustre”. He said the budget speech gave no idea whatsoever of budgetary allocations for key programmes and schemes.

“While the documents need to be studied in detail, it is clear after 90 mins that Budget 2026/27 falls woefully short of the hype that was generated about it.

It was totally lacklustre. The speech was also non-transparent since it gave no idea whatsoever of budgetary allocations for key programmes and schemes,” he said in post on X.Congress President Mallikarjun Kharge said the budget lacks policy vision and political will to address the country’s pressing economic, social, and political challenges.

He said the Modi government has run out of ideas and the Budget 2026 does not provide a single solution to India’s many economic, social, and political challenges.”‘Mission Mode’ is now ‘Challenge Route’. ‘Reform Express’ rarely stops at any ‘Reform’ Junction. Net result: No policy vision, No political will. Our Annadata Farmers still await meaningful welfare support or an income security plan. Inequality has surpassed the levels seen under the British Raj, but the Budget does not even mention it or provide any support to SC, ST, OBC, EWS, and Minority communities,” he said in a post on X.

Earlier today, Finance Minister Nirmala Sitharaman presented the Union Budget 2026-27 in Lok Sabha, her ninth consecutive Union Budget.Asserting that the Union Budget 2026-27 is driven by “Yuvashakti” and based on “three kartavyas,” Union Finance Minister Nirmala Sitharaman on Sunday proposed seven high-speed rail corridors, new dedicated freight corridors, and the operationalisation of 20 national waterways over the next five years as part of the Union Budget.

The Union Budget has outlined a major push for environmentally sustainable passenger transport, proposing the development of seven high-speed rail corridors across key urban and economic centres. These corridors will act as growth connectors, cutting travel time, reducing emissions, and supporting regional development.The proposed routes include Mumbai-Pune, Pune-Hyderabad, Hyderabad-Bengaluru, Hyderabad-Chennai, Chennai-Bengaluru, Delhi-Varanasi, and Varanasi-Siliguri. Together, they will link India’s financial hubs, technology centres, manufacturing clusters, and emerging cities through faster, cleaner mobility.

The Budget also highlighted eco-tourism and nature-based travel. The Finance Minister said, “India has the potential and opportunity to offer world-class trekking and hiking experience.” The government will develop sustainable mountain trails in Himachal Pradesh, Uttarakhand and Jammu and Kashmir, as well as in Araku Valley in the Eastern Ghats and Pudigai Malai in the Western Ghats.