Congress Manish Tewari criticized the annual budget process

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New Delhi: Congress MP Manish Tewari attacked the annual budget process on Saturday, saying it is “nothing more than an accounting exercise” that only monitors government profits and spending, with just hours to go before the Union Budget is delivered in Parliament.

Congress manish tewari — Congressman manish tewari

Comparing the budget to the president’s speech, Tewari said in a post on X that the budget has become a grandstanding ritual for the finance minister over the years and proposed that the government’s revenue and spending statement be given before the House.

“What is a budget? It’s just a simple accounting exercise. How much money did the government make and spend? It has become a yearly grandstanding custom for the finance minister over the years. Like the president’s speech, it is a pointless ritual. The Congress MP wrote on X, “The government’s income and expenditure statement can simply be laid on the house floor.”

Alleging that the ultra-wealthy are becoming wealthier, Congress MP Manickam Tagore urged the Union Government to alter its policies.

“As everyone knows, India’s economy is now at a distinct stage. Urban expenditure has decreased along with employment figures. While the middle class suffers, the ultra-wealthy gain super money. We anticipate that the government will acknowledge the suffering of the people and alter its policies,” he said.

In the meanwhile, the Economic Survey, which was presented to Parliament on Friday, predicted that India’s GDP will expand by 6.3% to 6.8% over the next fiscal year 2025–2026.

Tabled the day before the union budget, the study emphasizes that the nation’s economic foundations are still sound, bolstered by private consumption, fiscal consolidation, and a steady external account.It said that the government intends to prioritize capital goods, micro, small, and medium-sized businesses (MSMEs), and research and development (R&D) in order to support long-term industrial growth.

The goals of these initiatives are to increase global competitiveness, productivity, and innovation. “With a healthy external account, balanced fiscal consolidation, and steady private spending, the foundations of the domestic economy are still strong. Taking all of these factors into account, we anticipate growth in FY26 to be between 6.3% and 6.8%,” the statement said.

According to the poll, the seasonal drop in vegetable prices and the start of the Kharif crop are likely to reduce food inflation in Q4 FY25. In the first half of FY26, a strong Rabi crop is also anticipated to contribute to the control of food prices. On the other hand, inflation is threatened by unfavorable weather patterns and growing global food prices.