Opposition Targets Government Over Foreign Policy, Economy in Lok Sabha Debate on Finance Bill 2026

Opposition Targets Government Over Foreign Policy, Economy in Lok Sabha Debate on Finance Bill 2026​

Sharp Political Divide Emerges During Finance Bill Discussion​

New Delhi, March 24: A heated debate unfolded in the Lok Sabha on Tuesday as opposition leaders accused the government of compromising India’s strategic autonomy and mishandling the economy, while members of the ruling alliance defended the Finance Bill 2026 as a roadmap for inclusive growth and national development.

Opposition Flags Concerns on Foreign Policy and Investment Trends​

Participating in the discussion, Congress MP Manish Tewari raised concerns over declining foreign direct investment (FDI) and foreign portfolio investment (FPI), stating that the economy is not performing well. He also pointed to the depreciation of the rupee and alleged that no effective measures have been taken to address the issue.

Tewari criticized the proposed trade agreement with the United States, claiming it could open Indian markets to American agricultural products. He further alleged that India has agreed to stop purchasing Russian oil under US pressure, calling it a compromise of strategic autonomy.

He also questioned the government on the potential impact of the ongoing conflict in West Asia and sought clarity on the situation in the country after April 30, when the second phase of the Bengal elections concludes.

Samajwadi Party MP Pushpendra Saroj echoed concerns over economic performance and asked about fund allocations to Uttar Pradesh for key schemes such as MGNREGA, Jal Jeevan Mission, and Namami Ganga.

He also claimed that India’s foreign policy has weakened, stating that the country is increasingly dependent on the United States.

Congress MP Vamsi Krishna Gaddam called for tax relief for Dalit entrepreneurs and suggested employee-linked incentives to encourage hiring from marginalized communities.

Several opposition members highlighted the widening wealth gap, alleging that a significant portion of tax revenue continues to come from lower-income groups. Maharashtra Congress MP Kirsan Namdeo accused the government of disinvesting from public sector enterprises, while Priya Saroj of the Samajwadi Party questioned the use of public funds to service debts.

Chandra Shekhar of the Aazad Samaj Party raised broader concerns about economic challenges, including unemployment, issues faced by MSMEs, and the impact of demonetisation and rising LPG costs, asking how the Finance Bill addresses these problems.

Ruling Alliance Defends Government’s Economic Record​

Responding to the criticism, BJP MP Naveen Jindal dismissed the opposition’s claims, stating that they lack factual basis and are driven by disruption rather than constructive engagement.

Jindal said the 2026 Budget is designed to benefit all sections of society while strengthening agriculture and industry. He emphasized that the government has consistently worked for farmers’ welfare.

Highlighting the government’s track record, he noted that the NDA administration has navigated multiple global challenges, including the Covid-19 pandemic, geopolitical tensions, and wars, and has maintained a growth trajectory.

He added that India has emerged as the fastest-growing economy due to sustained policy efforts.

NDA Allies Back Development Agenda, Seek Targeted Improvements​

JD-U MP Ramprit Mandal praised the government’s welfare initiatives and called for focused measures to boost industrialization in Bihar, stating that the state’s development is integral to national progress.

TDP MP Lavu Sri Krishna Devarayalu said the economy has remained strong over the past five years despite challenges, citing GST growth of 7 percent. However, he pointed to bottlenecks in the taxation system and stressed that effective utilization of allocated funds is critical.

He also urged the finance ministry to accelerate targets in the artificial intelligence sector, proposing an advancement of the GPU deployment goal to achieve one million units by 2028.

Additionally, he noted that while funds have been allocated to the semiconductor sector, their utilization remains limited, which could otherwise help retain skilled professionals in the country.

Finance Bill Debate Highlights Policy Fault Lines​

The debate on the Finance Bill 2026 underscored deep divisions between the opposition and the ruling alliance on key issues including economic performance, foreign policy direction, welfare spending, and structural reforms. While the government maintained that its policies are driving growth and resilience, opposition leaders continued to question their effectiveness and long-term impact.