Indian Clarity

Light. Truth. Clarity.

Loading ad...
India

Economy Faces Many Challenges, Meaningful Steps Needed In Budget: Congress

Share FacebookTwitterWhatsAppPinterestLinkedinCopy URLTelegramEmailTumblrReddItPrintKoo New Delhi, Jan 12: The Congress on Monday hoped that the forthcoming Union Budget will take meaningful steps to address the challenges of sluggish private corporate investment and disparities in income as higher GDP growth rates in actuality will simply not be sustainable. Congress general secretary in-charge communications Jairam Ramesh said household savings rates have declined considerably, and wealth, income, and consumption inequalities continue to deepen. Ramesh said it remains to be seen if the forthcoming Union Budget boldly comes out of the comfort zone of statistical illusions, acknowledges realities and challenges, and takes meaningful steps to deal with them.

Economy Faces Many Challenges, Meaningful Steps Needed In Budget: Congress

Credit: Dailyexcelsior

Key Highlights

  • Noting that the schedule for the forthcoming session of Parliament has been announced, he said the 2026-27 Budget will be presented 20 days from now.
  • “It will no doubt reflect the recommendations of the 16th Finance Commission that had submitted its report on November 17, 2025.
  • These recommendations, covering the period 2026/27- 2031/32, relate to the sharing of tax revenues between the Centre and States and the distribution of these revenues among the States themselves,” he said in a post on X.
  • The States, already deeply concerned by the new 60:40 cost sharing formula in the law that bulldozed away MGNREGA, will certainly be keeping their fingers even more crossed than ever, Ramesh said.
  • “The economy faces many challenges.
Loading ad...

Sources

  1. Economy Faces Many Challenges, Meaningful Steps Needed In Budget: Congress

This quick summary is automatically generated using AI based on reports from multiple news sources. The content has not been reviewed or verified by humans. For complete details, accuracy, and context, please refer to the original published articles.

Related Stories

Loading ad...