Winning Bizness Desk
Mumbai.ndian Finance Minister Nirmala Sitharaman presented her 9th consecutive budget on Feb 1 and claimed that it will lead the country towards the path of harmonious development while opposition leaders have dubbed it as regressive.
Congress leader Rahul Gandhicriticised the Union Budget 2026, saying it failed to address the real concerns of ordinary Indians. He said the budget once again prioritised big infrastructure announcements while ignoring issues such as unemployment, rising prices and income stress faced by the middle class and youth. Rahul Gandhi also alleged that the government had no concrete roadmap to revive consumption or generate large-scale jobs.
Senior Congress leader Mallikarjun Kharge said the budget was “directionless” and claimed it benefited corporates while offering little relief to farmers, workers and salaried taxpayers. He said repeated promises of growth have not translated into better livelihoods on the ground.
Trinamool Congress leader Mamata Banerjeetermed the budget “anti-poor and anti-federal”, alleging that opposition-ruled states were neglected in allocations. She said the Centre continued to centralise resources while states struggled to meet welfare commitments.
Samajwadi Party chief Akhilesh Yadavsaid the budget lacked vision for employment and social justice. He questioned the effectiveness of increased capital expenditure when job creation remains sluggish.
On the ruling side, Ex-BJP president J P Naddadefended the budget, calling it growth-oriented and forward-looking. He said the focus on infrastructure, manufacturing and fiscal discipline would strengthen India’s economy in the long run.
Union minister Amit Shahsaid Budget 2026 reflects Prime Minister Narendra Modi’s vision of a self-reliant India and would accelerate development across sectors while maintaining economic stability.
Major Highlights of the Budget 2026-
1. Budget 2026-27 stays focused on capex-led growth while avoiding any major tax relief for individuals.
2. Finance minister Nirmala Sitharaman presents her ninth consecutive Union Budget in Parliament.
3. Government reiterates commitment to fiscal discipline amid global uncertainties and slowing world growth.
4. Capital expenditure remains the centrepiece, with higher allocations for roads, railways, ports and urban transport.
5. Infrastructure spending is pitched as a key driver for jobs, productivity and private investment.
6. Manufacturing push targets electronics, semiconductors, pharmaceuticals and clean energy sectors.
7. MSMEs get continued policy and credit support to boost employment and domestic production.
8. No major changes announced in the tax structure; focus remains on stability and compliance.
9. Opposition flags neglect of middle class, unemployment and weak consumption demand.
10. Congress and other opposition leaders call the budget pro-corporate and anti-poor.
11. Equity markets witness worst budget-day fall in six years after STT hike on derivatives.
12. Sensex falls 1,546 points and Nifty drops 495 points amid broad-based selling.
13. Public sector banks and derivatives-linked stocks lead market losses.
14. Government sticks to strong fiscal numbers with continued high capex and debt reduction targets.
15. Travel stocks gain after TCS on foreign tour packages is cut to a flat 2 percent.
