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.

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