Mangaluru : The Union Budget presented today by Finance Minister Nirmala Sitharaman is deeply disappointing. While it may seem like a relief for the middle class with its tax benefits, I must call it what it is—a facade. These so-called tax reforms are inflationary in nature and fail to address the rising cost of living or income inequality,” Former Chief minister Dr. M Veerappa Moily analysed.

Speaking to Hans India Dr. Moily said “What is most troubling is the blatant tilt towards oligarchic interests. Increasing FDI limits in insurance and privatising critical public sector enterprises only strengthens the hold of big corporations and foreign players on our economy, leaving the common citizen vulnerable”.

The government’s claim of fiscal consolidation by reducing the deficit to 4.4% of GDP looks good on paper, but the reliance on heavy borrowing—₹14.82 trillion—is bound to push inflation further. This will hurt the lower-income groups and small businesses the most.

On agriculture, the budget falls flat. The focus on high-yield crops and export-oriented initiatives may benefit large agribusinesses, but it leaves small and marginal farmers in the lurch. There is no real effort to improve their incomes or secure their livelihoods.

This budget is a missed opportunity. Instead of addressing unemployment, improving social infrastructure, or fostering inclusive growth, it continues to favour a select few. The government must rethink its approach if it truly wants to create an economy that works for everyone, not just the privileged.