– Abdul Bari Masoud
New Delhi: The CPI(M) has condemned the Union Budget 2025-26 as a betrayal of the people, calling it a budget for the rich. The party accused the Modi government of protecting corporate interests while ignoring mass unemployment and shrinking wages.
The CPI(M) urged protests against this “anti-people” budget, which cuts public spending while granting tax benefits to the wealthy. The Economic Survey highlights falling wages over five years, yet the government prioritizes private investment over job creation. Government spending as a percentage of GDP is set to decline from 14.6% in 2024-25 to 14.2% in 2025-26. Last year, the government underspent by ₹1 lakh crore. Transfers to states were reduced by ₹1.12 lakh crore, including ₹90,000 crore from centrally sponsored schemes.
Food subsidy was ₹2.05 lakh crore last year but was later reduced by ₹7,830 crore. This year’s allocation of ₹2.03 lakh crore is even lower. Education funding was ₹1.26 lakh crore, but the government spent ₹11,584 crore less. The new budget adds only ₹3,012 crore, a mere 2.3% increase, which does not account for inflation. Healthcare spending also fell short, and in the agriculture sector, ₹10,992 crore less than the budgeted ₹1.5 lakh crore was spent. The LPG subsidy has been reduced from ₹14,700 crore to ₹12,000 crore.
The party criticized the stagnant ₹86,000 crore allocation for MNREGA, despite rising demand, calling it a violation of the legal right to 100 days of work. The demand for a legal MSP for farmers was ignored. Budget allocations for SCs and STs remain low, at 3.4% and 2.6% of total spending, respectively. The government’s claim of helping the middle class by raising the tax exemption limit to ₹12 lakh was dismissed, as the biggest tax benefits will go to the wealthiest 1%, causing a ₹1 lakh crore revenue loss.
The CPI(M) accused the government of ignoring India’s economic crisis while falsely claiming success. It pointed out that wages remain below pre-pandemic levels and growth is slowing due to weak demand. The party stated that cutting expenditures and reducing taxes for the rich has repeatedly failed to boost investment or job creation. It called the Union Budget 2025-26 another chapter in a failed economic policy.
