On Monday, opposition parties criticized the Union government on a number of problems, including growing wealth disparity in the face of the nation's rising unemployment and inflation rates. DMK MP Tiruchi Siva stated that the Union Budget demonstrates the government's aims and intentions while taking part in the Rajya Sabha's consideration of the Union Budget 2025–2026.
"The budget is a declaration of intent rather than just a statement of accounts. This budget, according to our prime minister, is a roadmap for Viksit Bharat. However, the figures show that the road appears to be a mirage," he said.
He pointed out that although the budget was portrayed as a declaration of achievement, it neatly obscures the current state of affairs, which include slowing GDP, rising inequality, and a significant demographic dividend that is slipping away.
"This government's policies have only enriched the privileged few, leaving behind a section of people with joblessness, inflation, and shrinking opportunities," Siva stated.
He pointed out that the rich were getting richer and the poor were getting poorer, and that 1% of the nation's population had about 41% of the wealth.
Siva also drew attention to the federal government's lack of assistance in implementing several state-level programs.
Additionally, he criticized the Union Budget for underfunding vital areas like education and health.
According to MP Ritabrata Banerjee of the Trinamool Congress, the youth unemployment rate has significantly increased in 2023–2024.
"The latest Economic Survey data is showing that every year in the self-employed male workers the real earnings are decreasing constantly from 2017-18," he stated.
The vast majority of Indian workers' real salaries have been severely squeezed by the combination of rising inflation and excess labor flooding the job market, according to Banerjee.
He pointed out that throughout the past ten years, just the nationalized banks have written off Rs 12 lakh crore.
He claimed that banks had been harmed by fraud and money syphoning.
On the other hand, BJP member Dinesh Sharma commended the finance minister for releasing a budget that will help the nation move closer to the Viksit Bharat goal.
The nation is heading toward becoming a hub for innovation, he said.
Sharma mentioned a number of measures the Union government has made to improve the welfare of the populace, including the expansion of railroads, urban development, and a new education strategy.
