01/02/2026
Not a people’s budget. Another budget- full of cuts, zero relief for the common man.
The Union Budget ignores real economic challenges:
• Rising unemployment
• Jobless growth
• Widening income inequalities
• Inflation & economic slowdown
Here's what the fine print reveals:
❌ Economy slowing down
Revenue receipts cut by ₹78,086 cr.
Net tax receipts reduced by ₹1,62,748 cr.
❌ Capital expenditure slashed
Centre’s CapEx falls from 3.2% of GDP (2024-25) to 3.1% (2025-26)
Revised estimates for 2025-26 show a cut of ₹1,44,376 cr. over budgeted levels.
While the government continues to patronise its ultra-rich corporate friends, it has massively slashed spending (2025-26) in several core sectors/schemes that directly concern the common man, including education, healthcare, agriculture, rural and urban development.
Sectors and schemes worst hit by budget cuts (2025-26)
• Rural Development: ₹53,067 cr.
• Urban Development: ₹39,573 cr.
• Social Welfare: ₹9,999 cr.
• Agriculture: ₹6,985 cr.
• Education: ₹6,701 cr.
• Health: ₹3,686 cr.
• PM Awas Yojana: ₹3,200 cr.
• Jal Jeevan Mission: ₹50,000 cr.
• Massive cuts in SC / ST / OBC scholarships.
Further, budget allocations for several farmer-welfare and social-sector schemes in 2026-27 are even lower than the actual spending in the current year.
Further, in 2026-27, India will spend more on interest payments to service old debt than on capital expenditure to build new assets.
The Economic Survey clearly states that India needs 8%+ growth for at least a decade to achieve Viksit Bharat by 2047.
But Modi's budget offers no roadmap to achieve it. It is Jumlanomics, once again.
Indian National Congress - Mumbai Indian National Congress - Maharashtra Indian National Congress AICC Communications