Amar Patnaik Highlights Challenges for Union Budget 2025 Amidst Global Pressures

BJD leader Amar Patnaik expressed concern over the Union Budget 2025, emphasizing the tough global economic environment and protectionist policies impacting India's economy. Patnaik called for urgent policy measures to address price rise, unemployment, and consumption while stressing the need for private investment and structural reforms for growth.

Amar Patnaik, a prominent figure in the Biju Janata Dal (BJD), has voiced significant apprehensions regarding the forthcoming Union Budget 2025, highlighting the challenging global economic context in which it is being formulated.

In an interview with ANI, Patnaik elaborated on the circumstances, noting the slowing economy and the global geopolitical tensions contributing to economic strains on countries like India. He cautioned against rising protectionist policies that could dampen India's economic performance by impacting exports and imports, subsequently affecting GDP.

Patnaik underscored the critical issues burdening Indian citizens, such as price rises, unemployment, and declining consumption expenditure, urging the Budget to address these with appropriate policies and allocations. Despite these challenges, he maintained that the government must balance growth with pressing social issues. Patnaik also highlighted the need for attracting private investment and implementing long-term structural reforms to sustain economic growth.

On a traditional note, President Droupadi Murmu, on Saturday extended a gesture of good fortune by offering 'dahi-cheeni' (curd and sugar) to Union Finance Minister Nirmala Sitharaman before her presentation of the eighth Union Budget. The event took place during Sitharaman's visit to Rashtrapati Bhavan, attended by Minister of State for Finance, Pankaj Chaudhary. Sitharaman, poised to present her record eighth consecutive Budget in Lok Sabha, will detail fiscal policies, revenue and expenditure plans, taxation reforms, and other noteworthy announcements.

The Economic Survey tabled in Parliament anticipates India's economy to expand between 6.3% and 6.8% in the fiscal year 2025-26.

(With inputs from agencies.)