New Delhi [India], February 2 : Congress MP Karti Chidambaram on Monday criticised the Union Budget 2026-27 and questioned the status of announcements made in the previous year's budget, and alleged that the promises made in this year's budget will never be fulfilled.
Speaking to ANI, Chidambaram said these budgets have become mere exercises in grand announcements.
"If this is going to be the takeoff flight for 2047, what about the earlier budgets which the same Finance Minister gave? Were they not 'take off' budgets? These budgets have now become the exercises of ground announcements. Everybody gets taken in by these grand announcements without really pausing to think about what happened to the ground announcements made previously in the previous budgets by the same govt...This budget is full of many announcements which will never get fulfilled..." said Chidambaram.
Along with Karti Chidambaram, other prominent leaders too criticised this year's Union Budget of 2026-27. Karnataka Home Minister G Parmeshwara termed the budget as "disappointing" and "not forward-looking."
Parmeshwara said the budget failed to address key national priorities and questioned the Centre's intent on poverty alleviation and development.
Speaking to reporters, Parmeshwara said, "This year's Union Budget is disappointing, not forward-looking, and not a pro-poor budget. Is removing poverty, the agriculture sector, industry, or infrastructure not a priority for them? It is not taking India forward."
Earlier on Sunday, Union Finance Minister Nirmala Sitharaman presented the Union Budget 2026-27 in Lok Sabha, her ninth consecutive Union Budget, asserting that it is driven by "Yuvashakti" and based on "three kartavyas".
Some key budget announcements included an increase in public capital expenditure to Rs 12.2 lakh crore for FY 2026-27, up from Rs 11.2 lakh crore in the previous year, underscoring the government's continued focus on infrastructure-led growth.
Key initiatives include developing seven high-speed rail corridors connecting major cities, establishing new dedicated freight corridors, and operationalising 20 national waterways over the next five years to promote environmentally sustainable transport systems.
A major highlight on the taxation front was the announcement that the New Income Tax Act, 2025, will come into effect from April 2026, accompanied by simplified rules and redesigned forms to ease compliance for taxpayers. The Budget also proposes reductions in Tax Collected at Source (TCS) rates for overseas tour packages, education and medical expenses under the Liberalised Remittance Scheme.