'Completely insipid': Congress's first reaction to Union Budget 2026
What's the story
Congress leader Jairam Ramesh has slammed the Union Budget 2026-27, calling it "completely insipid." He made the remarks on social media platform X, pointing out several shortcomings of the budget, including a lack of transparency. Ramesh said Finance Minister Nirmala Sitharaman's speech did not provide clarity on budget allocations for key programs and schemes.
Allocation concerns
'Budget fell far short of expectations'
Ramesh wrote, "Although the documents still need to be studied in detail, it became clear just 90 minutes later that, compared to the heavy atmosphere that had been built around the 2026/27 budget, it fell far short." He added that Sitharaman's speech was non-transparent, as it didn't provide clear information on budgetary allocations for key programs and schemes.
Budget details
Sitharaman presented 1st-ever Sunday budget
Sitharaman presented her ninth budget speech in Parliament on Sunday, the first-ever budget to be presented on a Sunday in independent India. She announced an increase in the capital expenditure (capex) target to ₹12.2 lakh crore for FY27 from ₹11.2 lakh crore for the current fiscal year. The budget was presented against a backdrop of global uncertainties, trade frictions, US tariffs, and an export slowdown.
Economic forecast
Economic survey revises India's growth outlook to 7%
The Economic Survey 2025-26 presented by Sitharaman gave a relatively optimistic view of India's domestic growth outlook. It revised the medium-term growth outlook to 7% from an earlier estimate of 6.5%. Chief Economic Advisor V Anantha Nageswaran authored the survey, which projected a range of 6.8-7.2% for growth in FY27.