Prem Garg Criticizes Union Budget 2025-26 as “Old Wine in New Bottle

Chandigarh  ( Ranjeet Singh Dhaliwal ) :  Prem Garg, Chartered Accountant and Senior Leader of the Aam Aadmi Party (AAP) in Chandigarh, has expressed strong criticism of the Union Budget 2025-26, labeling it as “old wine in a new bottle.” He asserts that, year after year, finance ministers present budget proposals with grand promises of transforming India into an economic superpower, yet the outcomes consistently fall short of these aspirations. Garg highlights that the recent direct tax proposals, particularly the significant increase in the tax exemption limit from ₹7 lakh to ₹12 lakh, appear to be strategically timed with the forthcoming Delhi elections in mind. He suggests that such measures are designed more to garner electoral support than to implement genuine economic reform. The budget’s allocation of ₹10,000 crore for the Fund of Funds for Startups and the proposed Deeptech Fund is acknowledged. However, Garg points out that these allocations may not be sufficient to drive substantial growth in the startup ecosystem. He emphasizes the need for more robust support to foster innovation and entrepreneurship. Reflecting on past budgets, Garg notes a pattern of unfulfilled promises and underperformance. He questions the government’s ability to achieve the projected fiscal deficit reduction to 4.4% of GDP, expressing skepticism about the feasibility of this target given current economic conditions. Prem Garg urges the government to move beyond repetitive promises and to implement concrete, actionable strategies that address the nation’s pressing economic challenges. He calls for a budget that prioritizes sustainable development, equitable growth, and the genuine welfare of all citizens, rather than one that recycles old ideas under new packaging

Punjab Top New