'Budget addresses global challenges for business: Nirmala Sitharaman

Subscribe to enjoy similar stories. The Union budget for FY27 has squarely addressed the challenges faced by Indian businesses due to higher tariffs and other global challenges, finance minister Nirmala Sitharaman told the Parliament on Wednesday, enumerating specific budget measures and countering charges made by Opposition leader Rahul Gandhi that the budget acknowledged these challenges but failed to tackle them.

Prime Minister Narendra Modi will only speak and act in the interest of the nation, Sitharaman stated, countering Gandhi’s charge that the government surrendered the country’s interest in the trade deal with the US. Sitharaman also highlighted a 2013 trade facilitation agreement at the WTO Ministerial Conference in Bali, and a decision on public stockholding of food grains signed during the Congress-led administration, saying the National Democratic Alliance government reversed it in the interest of farmers.

Replying to the Lok Sabha debate on the Union budget, Sitharaman explained how its proposals sought to insulate the Indian economy from global headwinds while also improving business competitiveness and creating more jobs. Units in special economic zones, affected by the US tariff increase, have been allowed to sell in the domestic tariff area, the minister said, quoting a budget proposal.

Earlier in the day, opposition leader Gandhi had said the budget acknowledged the challenges identified the Economic Survey for 2025-26, but did not address them. Gandhi also expressed concern that Indians’ data would become a valuable resource for the US in its competition with China.