The Thackeray faction said that despite the government’s claims of strong economic performance over the past 12 years, the immediate reaction to the Finance Minister’s 85-minute budget speech exposed a starkly different reality
Uddhav Thackeray. File Pic
The Uddhav Thackeray-led Shiv Sena (UBT) has launched a sharp attack on the Union Budget 2026 presented by Finance Minister Nirmala Sitharaman, calling it a package of “imaginary assurances” that merely replaces unfinished promises with distant projections for 2047, reported news agency IANS.
Market reaction exposes gap between claims and reality
In an editorial published in the party mouthpiece Saamana, the Thackeray faction said that despite the government’s claims of strong economic performance over the past 12 years, the immediate reaction to the Finance Minister’s 85-minute budget speech exposed a starkly different reality.
The editorial pointed out that while the Prime Minister and ruling party MPs applauded the speech in Parliament, the stock markets reacted with what it described as an “objective assessment”. Within minutes of the budget’s conclusion, the markets witnessed a sharp fall, wiping out nearly Rs 16 lakh crore in investor wealth. The editorial attributed the panic to fresh levies on options trading and a hike in the Securities Transaction Tax on futures, reported IANS.
Middle class, salaried taxpayers feel the squeeze
Referring to Prime Minister Narendra Modi describing the budget as a “Reform Express”, the Sena (UBT) said middle-class investors—many of whom now depend on mutual funds and equities—experienced the impact far more harshly than suggested by government rhetoric.
The editorial further criticised the budget for failing to provide relief to salaried individuals, noting that income tax slabs remained unchanged despite rising inflation. It also accused the Centre of neglecting farmers, alleging there was no mention of guaranteed prices linked to production costs. Recalling earlier promises to double farmers’ incomes, the party claimed it was cultivation expenses that had doubled instead, pushing agriculture into distress, reported IANS.
Questions raised over rupee fall and rising national debt
Highlighting what it termed a widening gap between “words and actions”, the editorial questioned the sharp depreciation of the rupee over the past decade and the steep rise in national debt since 2014.
‘Viksit Bharat’ vision likened to suspense film
Concluding on a sarcastic note, Saamana likened the government’s vision of a “Viksit Bharat” by 2047 to the suspense film Bees Saal Baad, suggesting that after an immediate loss of Rs 16 lakh crore, citizens are being asked to wait decades for any meaningful returns.
(With inputs from IANS)
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