On this Special Report, senior Congress leader and former Finance Minister P. Chidambaram provides a scathing critique of the Union Budget 2025-26. He highlights the government’s failure to address critical economic challenges, stating, ‘Even by an accountant’s standards, it was a poor account of the management of the finances in 2025-26.’ Chidambaram points out significant shortfalls in revenue receipts and capital expenditure, noting that the Centre’s capital expenditure fell from 3.2% to 3.1% of the GDP. He further details substantial funding cuts in essential sectors, including rural development, education, and healthcare. The speaker also raises concerns regarding the precarious employment situation, the closure of lakhs of MSMEs, and the ‘cruel’ cuts to the Jal Jeevan Mission. The programme examines his observations on the widening gap between official inflation numbers and the ground reality of household expenditures.
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