New Delhi: Union Finance Minister Nirmala Sitharaman presented the Union Budget for the fiscal year 2026-27 in Parliament on Sunday. The budget received mixed reactions from both the ruling party and the opposition. While BJP and government ministers described it as ‘visionary’ and ‘future-ready’, the opposition criticized it for being disconnected from the needs of the common people and for showing bias against certain states.
Union Minister Piyush Goyal praised the budget, highlighting that under Prime Minister Narendra Modi’s leadership, Finance Minister Nirmala Sitharaman has presented a record ninth consecutive budget, a historic achievement in itself.
Congratulating the Prime Minister and Finance Minister, Goyal said the budget lays a strong foundation to achieve the goal of a ‘Developed India 2047’. He added that if the budget were to be summed up in one phrase, it would be the budget of a ‘future-ready India’.
He further noted that the budget encourages the country’s progress through multifaceted reforms, with the reform process gaining unprecedented momentum since independence. So far, more than 350 reforms have been implemented, and the current budget sends a message of moving forward with responsibility.
Goyal emphasized that the manufacturing sector received the greatest boost from this budget. Special focus was given to setting up new factories, increasing investments, and enhancing production across various sectors. For the first time, the government has announced a historic decision to exempt foreign companies establishing data centres and providing global cloud services in India from taxes until 2047, aiming to transform India into a global hub for technology and digital infrastructure.
Union Minister Manohar Lal described the budget as visionary, stating that the 2026-27 budget will have a long-lasting impact. He said the budget is designed keeping in mind the goal of a developed India in the coming years, with special provisions for growing urbanisation. Along with major metropolitan cities, there is significant focus on the development of Tier-2 and Tier-3 cities.
Manohar Lal explained that for the next five years, each Tier-2 and Tier-3 city will receive approximately Rs 5,000 crore in funding. Additionally, Rs 12.2 lakh crore has been allocated for urban infrastructure development, which is expected to benefit these cities greatly and promote balanced urban growth.
On the other hand, the opposition strongly criticised the budget. Rashtriya Janata Dal (RJD) MP Misa Bharti said she found the budget difficult to understand. Despite several attempts, she could not see any concrete benefit for the common people. She added that it will take time for her, the opposition, and the country to fully comprehend the budget.
Misa Bharti, who hails from Bihar, pointed out that although NDA recently won a landslide victory in the state, it was a result of the system rather than public support. She noted that Bihar was not specifically mentioned in the budget and gained nothing from it. Promises made by the government are not visible on the ground. She said the budget is for 2026, but people want to know what relief they get today. No one knows what will happen or who will be around in 2047, but people need immediate relief in the current circumstances.
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