Kolkata: Amit Mitra, principal chief advisor to Chief Minister Mamata Banerjee and the Finance Department, on Saturday described the Union Budget 2026–27 as “a betrayal of the common people” and a document that “hurts the very foundations of inclusive growth”.
Addressing a Press conference at Nabanna, Mitra said he was “deeply alarmed” by what he termed a pattern of cuts in key social sectors, accusing the Union government of manipulating figures while hollowing out the welfare framework.
“I raise these questions in the interest of the people. If the government claims this is a pro-growth Budget, then growth for whom? Whose interests does this Budget serve?” he asked.
According to Mitra, the most disturbing signal was the steady decline in education spending. “In 2015–16, education accounted for 3.8 per cent of total expenditure. In this Budget, it has been slashed to 2.6 per cent. While major global economies are increasing allocations to 5–6 per cent, recognising human capital as the true driver of growth, India is moving backwards.
This reflects a lack of political will and an erosion of national priorities,” he said. He accused the Centre of a “systematic and deliberate reduction” in education funding, calling it indicative of a government that “does not care for knowledge, research or skill-building”.
Mitra also claimed that declining fertiliser subsidies exposed the government’s apathy towards farmers.
“In 2015–16, fertiliser subsidy formed 4.04 per cent of total expenditure.
This year, it is down to 3.19 per cent. Rising input costs have crushed farmers’ margins. Instead of support, they are facing cuts,” he said.
He further argued that the government’s “double-speak on rural welfare” was evident in shrinking allocations for Scheduled Castes, Scheduled Tribes, OBCs and minorities, whose combined Budget share fell from 0.21 per cent in 2015–16 to 0.19 per cent in the latest estimates. “These are not just numbers. They reflect a decline in political compassion,” he said.
Warning that neglect of education, agriculture and marginal communities would prove costly, Mitra said: “You cannot build a strong economy on weak foundations. Investment in people is not charity — it is the most intelligent form of nation-building. This Budget fails that test entirely.”