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HomeFocusChidambaram Critiques FM's Budget, Highlights Key Failures

Chidambaram Critiques FM’s Budget, Highlights Key Failures

– Abdul Bari Masoud
New Delhi: Congress leader P. Chidambaram criticized Finance Minister Nirmala Sitaraman for walking on a “worn-out path” in the Budget 2025-26. He said the Budget mainly focuses on the taxpaying middle class and voters in Bihar, offering little to the rest of India. Chidambaram pointed out that Sitaraman is not willing to embrace the bold reforms seen in 1991 and 2004, leading to an expected growth rate of just 6-6.5% in 2025-26, far from the 8% target set by the Chief Economic Adviser.
Chidambaram highlighted that revised revenue receipts for 2024-25 are Rs 41,240 crore lower, while revised net tax receipts are Rs 26,439 crore less. Total expenditure cuts amount to Rs 1,04,025 crore, with sectors like Health, Education, and Rural Development facing significant reductions. He called the cuts to allocations for SC, ST, OBC, and minorities “cruel.”
Chidambaram dismissed the government’s fiscal deficit improvement as minor and warned that its capacity to implement schemes has weakened. He expressed doubts about meeting the 2025-26 capital expenditure target, given the previous year’s shortcomings. He pointed to programs like POSHAN, Jal Jeevan Mission, and others as evidence of the government’s failure to deliver on past promises.
Chidambaram also criticized the insufficient allocation for Railways, which serves the majority of India’s population. He claimed the government’s promises of job creation through schemes like PLI, Skill India, and the New Employment Generation Scheme have fallen short, leaving the youth deceived.
He noted that the government ignored the advice of the Chief Economic Adviser, who urged the government to “get out of the way” and reduce bureaucratic control. Chidambaram concluded by pointing out the government’s failure to conduct the 2021 Census, which has led to serious administrative challenges and left millions excluded from crucial social programs like the National Food Security Act.
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