Budget 2026 Sparks Intense Debate: Growth, Investment, and Fiscal Strategy Under Scrutiny

• Manish Tewari (Congress MP) criticizes Budget 2026 for not addressing structural weaknesses, citing weak nominal GDP growth, falling tax buoyancy, and rising government borrowing.
• Tewari highlights stagnant private investment despite corporate tax cuts and PLI schemes, raising concerns about agriculture, rural incomes, and limited fiscal space due to high interest payments.
• He questions India's spending on new-age sectors like semiconductors and AI, and calls for significantly higher defence expenditure given multi-border challenges.
• GVL Narasimha Rao defends the government, emphasizing India's economic progress, status as the fastest-growing major economy, and strategic use of borrowing for investment, not consumption.
• Rao points to record public capital expenditure, improved fiscal discipline, manageable debt, and policies supporting exports, manufacturing, and inclusive welfare spending.

Why It Matters: Budget 2026 fuels a political debate contrasting government's growth narrative with opposition's concerns over structural issues.