Congress leader Tariq Anwar expressed hope that the upcoming Union Budget will be in the public interest and improve the economy. The Budget Session begins today, with the Budget scheduled for February 1. He also commented on the India-EU FTA.
Congress Hopes for Public-Interest Budget
Ahead of the Budget Session set to commence today, Congress leader Tariq Anwar on Wednesday expressed hope that the Union Budget would be in the public interest and would improve the country's economy.
Anwar said that the functioning of the Budget Session will depend on what kind of budget the Union Government unveils on February 1. "A lot will depend on what kind of Budget is presented by the Govt. We hope the Budget is in the public interest and improves our economy," he said.
Budget Session Schedule
The Budget Session of Parliament will commence today with President Droupadi Murmu addressing the joint sitting of the two Houses. The Economic Survey of India is scheduled to be presented on January 29th, followed by the Union Budget 2026-27, to be presented on February 1st. The session will span 30 sittings over 65 days, concluding on April 2. The two Houses will adjourn for a recess on February 13 and reconvene on March 9 to enable the Standing Committees to examine the Demands for Grants of various ministries and departments.
India-European Union Free Trade Agreement
Tariq Anwar further said that the India-European Union Free Trade Agreement (FTA) would be beneficial if India's trade increases and investment grows. "From America, he (Prime Minister Modi) has now reached Europe; it's difficult to say what will happen next. But we still believe that if our trade increases and investment grows, it will lead to more employment and investment in our country. If this is successful, it will be good for our country's economy," he said.
Pact Details Unveiled
Prime Minister Narendra Modi, von der Leyen and European Council President Antonio Luis Santos da Costa unveiled the pact during a joint press briefing in New Delhi on Tuesday, where PM Modi said India-EU cooperation would help stabilise a turbulent global order.
Under the agreement, the EU will remove tariffs on 99.5 per cent of Indian exports, with most duties dropping to zero once the pact comes into force, while India will provide tariff concessions on 97.5 per cent of traded value.
Commerce Minister Piyush Goyal and European Commissioner for Trade and Economic Security Maros Sefcovic signed the joint announcement in the presence of the leaders.
As part of the agreement, India will revoke tariffs on all EU chemical products, while duties will be abolished on 90 per cent of optical, medical and surgical equipment.
The agreement comes amid fresh tariff pressures on both India and Europe from the Donald Trump-led US administration. (ANI)
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