Union Budget 2026 draws mixed reactions from PM Modi, Rahul Gandhi, opposition leaders and top industry voices. Read key responses in one report.
Prime Minister Narendra Modi
— Described the Budget as a balanced and growth-oriented framework that sustains high public capital expenditure while maintaining fiscal discipline. He said it reflects a strategic push for long-term national development.
Uttar Pradesh Chief Minister Yogi Adityanath
— Called the Budget a clear blueprint for a new and developed India, emphasising growth, inclusivity, youth empowerment and tax reforms aimed at simplifying life for citizens.
Former Finance Minister P. Chidambaram
— Criticised the Budget, saying it “fails the test of economic strategy and statesmanship,” and raised concerns over its priorities and lack of bold reforms.
Congress MP Shashi Tharoor
— Described the Budget as “woefully short of the hype” and said it lacks concrete measures for the middle and lower-middle classes, while also pointing to regional imbalances.
Anil Agarwal, Chairman, Vedanta Ltd
— Welcomed the Union Budget 2026, calling it a pro-growth roadmap focused on higher public capital spending and a strong manufacturing push. He said it will create opportunities for youth, promote women’s financial independence, and boost employment-intensive sectors such as medical tourism.
Agarwal praised the focus on critical minerals and rare earths, including the proposed Rare Earth Corridors across Odisha, Tamil Nadu, Andhra Pradesh and Kerala, which he said will strengthen mineral security, jobs and industrial growth. He also welcomed the import duty exemption on capital goods for mineral processing and the flexibility in SEZ norms allowing limited domestic sales. He congratulated the Prime Minister and Finance Minister for steering the economy steadily in uncertain times.
Ravish Sharma, Deputy CEO, ESL Steel Limited
— Said the Budget strongly reinforces India’s infrastructure-led growth strategy. He noted that higher capital expenditure and manufacturing support will benefit steel, mining and allied sectors, especially in industrial states like Jharkhand.
He added that public investment, MSME support and improved connectivity will accelerate regional development, while reforms to improve competitiveness, ease of doing business and long-term capacity building will strengthen self-reliance.
Raamdeo Agrawal, Market Veteran
— Praised the Budget’s technology focus, especially the 100% tax holiday for data centres, calling it a move that could spark a “software-boom-like” expansion and position India as a global AI hub.
Dr. Prathap C. Reddy, Chairman, Apollo Hospitals
— Welcomed the healthcare push, saying it will strengthen life sciences, public health systems, medical education and access to care, while boosting medical tourism and biotechnology growth.
Shruti Aggarwal, Co-founder, Stashfin
— Appreciated the commitment to improving MSME access to credit and financial support, calling it a step towards deeper financial inclusion and entrepreneurial growth.
Sudipta Roy, MD & CEO, L&T Finance
— Welcomed the Budget for striking a balance between structural reforms, growth and capital expenditure, reflecting policy continuity and support for long-term industry growth.
FICCI (Industry Body)
— Praised the Budget as balanced and credible, highlighting its focus on economic growth, inclusivity and youth empowerment, signalling strong industry backing.
Rahul Gandhi, Leader of Opposition (Lok Sabha)
— Strongly criticised the Budget, calling it “blind to India’s real crises.” He said it ignores key challenges such as unemployment, weak manufacturing, capital outflows, falling household savings, farmer distress and global economic risks.
He added that the Budget lacks necessary course correction and said he would raise the issue in Parliament, arguing that it fails to address ground-level economic and social concerns.
