Congress flags economic concerns as Parliament schedule is announced

(Fast Mail):--The schedule for the forthcoming session of Parliament has been announced and the 2026/27 Budget will be presented twenty days from now, drawing early political focus to the state of the economy and Centre–state finances.

Congress leader Jairam Ramesh said the budget would no doubt reflect the recommendations of the 16th Finance Commission that had submitted its report on Nov 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.

“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”,he said in a post on “X”.

He said the economy faces three challenges facing the economy. The first one, he said,the rates of private corporate investment remain markedly sluggish - tax cuts and healthy profits notwithstanding. Second, household savings rates have declined considerably, constraining investment capacity and third, wealth, income, and consumption inequalities continue to deepen.

Ramesh questioned whether the forthcoming Budget would comes out of the comfort zone of “statistical illusions” to acknowledge these challenges, and takes meaningful steps to deal with them.

He said the higher GDP growth rates which is very essential for vastly expanded job creation, would not be sustainable unless these steps are taken now.

Related Business News

Congress Attacks Modi Government Over India-US Trade Agreement

(Fast Mail):-- Citing fears that the implementation of the India-US trade agreement could particularly adversely affect the interests of Indian farmers, the Congress demanded that the central government make the full details of this agreement public. Congress spokesperson and head of the party....

Economic Survey: High growth rate estimation conceals weaknesses in agriculture, manufacturing, and exports

By Jagadananda Pradhan (Fast Mail News):-- High growth estimate shown while concealing weaknesses in agriculture, manufacturing, and exports in the Economic Survey of India-2026, tabled by Finance Minister Nirmala Sitharaman in Parliament on Thursday.The survey has raised India's growth r....

BJP attempting to centralize power: Rahul Gandhi

KOCHI: Congress leader Rahul Gandhi on Monday accused the Rashtriya Swayamsevak Sangh (RSS) and the Bharatiya Janata Party (BJP) of attempting to centralize power, while stating that the Congress believes in decentralization. The Leader of Opposition in the Lok Sabha made these remarks at a 'Maha Pa....

Modi Government Planning to Lift Ban on Chinese Companies : Congress

(Fast Mail):-- The Congress on Friday, citing a news report, claimed that the Modi government is now proposing to lift the five-year-old restrictions on Chinese companies so that they can bid for Indian government contracts. The opposition party also claimed that this step is nothing less than a &qu....

Swiggy-Zomato-Blinkit Deliveries May Be Affected on New Year's Eve; Gig Workers Announce Nationwide Strike

Just before the New Year celebrations, gig economy workers across the country have announced a work stoppage. On Wednesday, thousands of gig workers associated with major delivery and e-commerce platforms have called for a nationwide strike. This is likely to directly impact food delivery, qui....