Namaskar, I am Ravish Kumar. The budget has ruined your Sunday, or perhaps you’re feeling like it’s Monday. There’s a saying that on Sundays, the stock market doesn’t incur losses. Today, that record was broken too. The Sensex fell by 1000 points, and 8 lakh crores vanished into thin air. On TV, sycophantic experts had to perform quite a duty to portray today’s budget as good, forcing narratives and trying desperately to present the budget as better. But despite all their efforts, they didn’t find anything special to highlight in this budget.

This budget emphasized duty. Three types of duties were outlined. These are the same duties that the government, Prime Minister Modi, keeps mentioning in every budget and in every village speech. Only this time, they were labeled ‘duty,’ whereas earlier terms like targets, vision, foresight, and long-term vision were used. The budget was turned into a lengthy speech in the name of vision. It had to become a speech because that’s the direction the budget has been progressing in for a long time. After creating templates for Aatmanirbhar Bharat, Amrit Bharat, Viksit Bharat, Naya Bharat, this Bharat, that Bharat, all sorts of Bharat, they remembered ‘duty.’

This budget is a highway of immense opportunities. It fulfills the dreams of the present and strengthens the foundation of India’s bright future. It is a strong base for our high flight towards a developed India by 2047. The finance ministry moved into a building named ‘Kartavya Bhawan.’ Ministers haven’t been renamed ‘Duty Ministers’ yet. Finance Minister Nirmala Sitharaman gave a long speech about the vision for various sectors, some aspects of which we will discuss in this video.

Hearing about seaplanes, waterways, textile parks, khadi, etc., it felt like announcements from previous budgets or something very familiar. It seems the government suddenly remembered that it’s also time to perform duties. Let us remind you that the seaplane was launched by Prime Minister Modi during the Gujarat elections. Many dreams were shown then. Later, the seaplane service was discontinued. It hasn’t flown since 2021. In fact, the government is now talking about bringing air taxis to the Sabarmati River Front. But in this budget, the seaplane has returned. Before the dream arrives, remember, you have seen this dream before, and it has already been shattered. It is said this will boost tourism and connectivity. A 20 crore seaplane project failed. Now the failed scheme is being brought back.

Last year, it was announced with great fanfare that the PM Internship Scheme would change the future of youth. The budget for this scheme has been cut by 95%. The budget estimate for FY 2025-26 was 10,830 crores, but in the revised estimate, it’s only 526 crores. That’s a 95% cut. In October 2024, under this scheme, companies offered 16,65,000 internships. But only 33,000 students accepted. Of these, 6500 left the internship early. This is the state of the internship scheme announced in the budget. We will also talk about this in this video.

But before proceeding further, a piece of information: The insurance sector hoped the deduction limit under 80C would increase so people could pay premiums and buy more insurance. People might be disappointed in this matter. But even so, you cannot ignore insurance. Arranging immediate cash during illness or an accident isn’t easy, and expenses are so high you can’t carry cash in sacks. Therefore, it’s essential to plan insurance properly. Health insurance is also a form of saving. Now there are many plans that cover pre-existing diseases like diabetes, thyroid, BP, asthma from day one. If you take such plans at the right time, it won’t burden your monthly budget.

One should also have a proper understanding of term insurance, which is the purest form of life insurance. The younger you are when you take it, the lower the premium you’ll pay, and that premium gets locked for life. The earning member of every family should have term insurance. It ensures that even in your absence, your family doesn’t face financial difficulties. But which is the right plan? Before buying, one should understand all terms and conditions properly. By paying just ₹400-₹500 every month, you can get coverage of lakhs to crores in both these insurances. We have provided a link in the description where you can get more information. You can also get a 15-25% discount if you buy online. You can decide based on your discretion.

Amrit Sarovars (ponds) will be developed for pisciculture (fish farming). Check the condition of Amrit Sarovars in your district. In 2020, it was announced that ponds in every district would be rejuvenated and 75 ponds built. What is the condition in 2026? These reports will give you an idea and change the way you look at budget announcements. It sounds good that there will be fish farming in ponds and the country will develop. But what is the condition of those Amrit Sarovars?

The Smart City Mission failed. But now the jumla of ‘City Economic Zone’ has been served so you keep dreaming on Sunday. The capital Delhi itself is gasping as a city, and the government is talking about creating City Economic Zones. There’s truly no match for this government in changing and sticking labels.

The budget is made for the people? 1/20th of the people? It’s a budget beyond the understanding of farmers, the poor, and villagers. But, sir, while Nirmala Sitharaman was presenting this budget speech in parliament, the Prime Minister was constantly seen thumping the table. Well, who doesn’t like their own back being patted? Oh brother, government people were thumping. They don’t know how expensive gold and silver have become today. Sensex is telling. It has crashed. Just think, what is the situation? Today, you can’t afford treatment for medicines for illnesses. You are not providing any facilities to the poor. You are talking big about infrastructure. The bullet train that was supposed to cost 1 lakh crore, now a 2 lakh crore bullet train is being built. You haven’t given a single expressway to UP? How expensive electricity are you providing? And the companies supplying electricity are making profits, profits of thousands of crores. So what kind of budget are you making? For whom are you making the budget? Talking about developed India, the government needs to be reminded of its duties in this matter.

It seems the budget imagines public psychology in a specific way—that it should show dreams so people get lost in them. Seven duties for manufacturing were mentioned. But there was no mention of Make in India from 2014 or Skill India from 2015. Big talks were given about manufacturing then too. In this budget, the Finance Minister forgot to mention Skill India. The PM Internship Scheme wasn’t mentioned. It seems the government has accepted that Skill India, Make in India, etc., were just slogans. Even if they were duties, they yielded no result. The CAG has reported scams of thousands of crores in Skill India.

This budget’s speech was such that Sunday started going waste. Some announcements regarding taxes did draw attention to the budget, but not much. Compensation received from Motor Accident Tribunals will now be tax-free. Income tax revisions until March 31 can be filed with a nominal fine. ITR-1 and ITR-2 forms can only be filed until July 31. Businesses not requiring audit can file returns until August 31. Returns can be updated after reassessment by paying an additional 10%. Now the maximum punishment will be 2 years, and courts can convert it into a fine. TCS on foreign travel, education, and medical remittances has been reduced. If someone receives interest from accident claims tribunals, it will not attract income tax, and any TDS on it is waived.

“I propose to introduce a one-time six-month foreign asset disclosure scheme for taxpayers to disclose income and assets below a certain size to address practical issues of small taxpayers like students, young professionals, tech employees, relocated NRIs, and others.” How much benefit those with black money will get from this government decision to give a chance to disclose foreign assets will be known in time. The Modi government has already brought a Voluntary Disclosure Scheme once to give relief to black money holders. In 2016, the government launched this scheme where, by paying a 50% penalty, anyone could declare their black money. Under this scheme, black money worth ₹65,250 crores was surrendered. Shortly after, demonetization was brought in the name of eliminating black money. What was the result? You know very well. And no one will tell you about the budget in this way.

In the 2024 budget, Nirmala Sitharaman had already announced that cases below ₹50 lakhs and older than 3 years would not be reassessed; files would not be reopened. The time limit for scrutiny was reduced from 10 years to 6 years. The new income tax law will come into effect from April 1st, and the income tax form will change this time. The basic point is that corporate tax cuts since 2019 have benefited corporations. In the Indian government’s tax collection, corporate contribution has now fallen to third place. Direct tax collection has increased, but the common public’s contribution is the highest. They have paid taxes filling the coffers. Corporations paid less tax and invested less. 80% of taxes are paid by you and me.

For FY 2025-26, tax collection was estimated to grow at 12.5%. But even 4% was not achieved. So, on the tax front, there was nothing in this budget. If you were looking at the budget from a tax perspective, your Sunday would have been ruined.

Regarding manufacturing, it seems the government has now understood that all the duties it performed, all the slogans it created for this sector’s development, have all failed. All data shows that after the spectacles of Make in India and Skill India in 2015, manufacturing’s contribution to GDP has remained low. In 2006-07, manufacturing’s share in GVA was 19%. Now it has come down to 14%. Exports are nothing special either. Everyone knows China is far ahead. India’s position in manufacturing in Asia is sixth. To compete with China, India hasn’t done anything significant in this sector so far. If any product had been made that made China sweat, the government would surely have taken credit. This means that after 12 years of all the rhetoric, Indian manufacturers are still unable to produce any product capable of defeating China in this sector.

The Modi government has now run out of new ideas. This budget sits as a question mark for India’s many more economic, social, and political challenges, and especially, this budget has nothing for the poorer sections. For controlling inflation as well, they have not shown any positive solution, advice, or step.

Such a web of words is woven that you repeatedly hear discussions of duty, and many times while listening, it might feel that India lagged behind China in manufacturing because you didn’t perform your duties. You might sometimes wonder what happened to the previous resolve or the term ‘Sankalp se Siddhi’ (from resolve to accomplishment). Why wasn’t there Siddhi (accomplishment)? ‘Aatmanirbhar’ (self-reliant) was used; what happened to that? ‘Viksit Bharat’ (Developed India) has now arrived. After ‘Naya Bharat’ (New India), there was talk of containers. Surprisingly, the memory of this basic thing has now come. Now the government noticed something needs to be done in container manufacturing.

“I also propose a scheme for container manufacturing to create a globally competitive container manufacturing ecosystem with a budgetary allocation of ₹10,000 crores over a five-year period.” The government will assist with ₹10,000 crores over the next 5 years so that a container ecosystem is prepared. Currently, China dominates container manufacturing. Of all containers made in the world, 95% are made by China. Obviously, there’s nothing left to do in this field now. But a dream was sold to the country through the budget today.

There is a public sector company of the Government of India: Container Corporation of India (CONCOR). It was established in 1988. In 2014, it was given Navratna status. Its rank among India’s Fortune 500 big companies is 278. It is a ₹400 crore company. Its work is to build and provide container networks. Its website states that under Aatmanirbhar Bharat, CONCOR has manufactured 2959 containers. After this, Business Standard also wrote that India can manufacture 3000 containers in a year. Whereas China manufactures 50 lakh containers in a year.

There’s a Chinese company, China International Marine Containers Group. This single company manufactures 20 lakh containers a year. Of the five global container ports in the world, four are with China. If the Finance Minister is saying they will scale up in containers, you can understand that India is starting on this scale from a production of 3000 containers. Whereas China has reached a production of 50 lakh containers. Is any channel telling you in this way how big a failure the Modi government has been in the container sector after being continuously in power since 2014? After completely failing, the name of containers has been included in the duties for manufacturing. So listeners will suddenly feel some big target has arrived. Will India, with ₹10,000 crores, be able to break China’s monopoly in container manufacturing? Will it be able to build an ecosystem? That is the question.

Similarly, the government has talked about emphasizing the lift (elevator) sector. Do you think with government help, India will plant its flag in the manufacturing sector for lifts? Manufacturing has completely failed. Now it should feel like something new will be done, so names like containers, lifts are being taken.

American Otis, Swiss Schindler, Finnish Kone, Japanese Hitachi and Mitsubishi make lifts. These companies also manufacture lifts in India. But many of their plants are in China. Otis has five plants, and Kone’s largest production plant is in China. Because of this, China has become the leader in lift production and exports. India’s real estate sector has come so far, but Indian brands haven’t made any special place in lifts yet. Do you think the Indian government will be able to perform any special duty regarding lifts? Why wasn’t it performing duties until now? Is India not manufacturing lifts due to lack of policy and investment, or has China moved far ahead? You need to ask the government this.

The government may have set targets for manufacturing lifts, fire-fighting machines, boring machines, and containers. But in all these sectors, China or other countries have moved ahead, and Western companies have mastery in making them. So India has no new product. The products that are established worldwide, where companies have decades of experience in this field—the government is trying to include those products in manufacturing duties to create a spark.

Similarly, talk of Bio-Pharma Shakti (strength). Again, see the play of words here. Adding ‘Shakti’ will make it seem the pharma sector is developing with full strength. Being thought of in the Indian context. The government said ₹10,000 crores will be given over the next 5 years. But a provision of ₹500 crores has been made this year. So do you think anything will be achieved with ₹500 crores in this most intensely competitive sector in the world?

Similarly, if you look at the budget allocations, you’ll realize there’s nothing left for manufacturing now. This government wasted 12 years, so it’s making events attractive with shakti, sankalp, and kartavya.

There’s a jumla about river waterways. “Operationalize 20 new national waterways over the next five years starting with National Waterways 5 in Osa.” How long will budget pages be filled relying on this jumla? Apart from Britain, all countries of the world carried out their industrial revolutions relying on railway lines. In her speech, the Finance Minister announced that over the next 5 years, 20 waterways will be operationalized. What will happen from these? What will be achieved? What has been done so far? No one knows anything. Hearing it, you’ll feel something big is happening. The government’s attention is going towards rivers. No one has thought until now. A new dream has been launched.

You will also find out how many people travel daily by boats in the capital of Bihar itself. Seeing the condition of these boats, it will seem that in this country, there might be a policy on paper regarding river waterways, but it’s not visible here. People have themselves made arrangements for these boats to dock by putting bamboo planks. Old generators run these boats, and the generator smoke must be polluting the air. Thousands of boats run in Bihar. From making decks in Osa, Bengal, to providing safety, what is the contribution of this government policy in the operation of so many boats?

Suddenly in January 2023, a news came that a big ship named Ganga Vilas is going to run. Dreams were created that through Ganga Vilas, you can now cruise from Banaras to Kolkata, enjoy entertainment. Then where did that ship go? The government never told how many times there was talk of running ships between Banaras and Kolkata, talk of freight transport. What happened to them? What is the record? Is something happening, or is money just being blown for the name’s sake?

In Gujarat too, a big water ship was run in the Sabarmati. Last year’s August news. It is at a loss of ₹35 crores. Due to low water levels, it can’t run. Hopefully, this doesn’t get shut down too. Just announcements happen.

Hearing ‘National Waterway,’ it will seem new possibilities are being created. But this drama has been going on since 2016. Even after 10 years, the possibilities in this sector don’t assure you.

In 1988, the first river waterway was announced between Haldia and Allahabad as a National Highway. But it started 30 years later in 2016. But pictures of freight transport through it appear in newspapers once in a while for a year or two and then disappear.

The Modi government has so far announced 111 river national highways. A 2023 Parliamentary Standing Committee report said 63 national waterways could not be started because there was no money, there was a staff shortage. The committee in its report advised not to start work on 63 waterways.

In June 2025, Shipping Minister Sarbananda Sonowal gave a statement that out of 111 notified waterways, only 29 are operational.

This financial budget of 2026-27 presented by the central government… it is totally full of sound and fury. Totally, it’s a directionless, mission-less, action-less economy. Dulled. Anti-woman, anti-poor, anti-farmer, anti-youth, anti-SC, anti-ST, anti-OBC. Education funds, education subsidy declined. Social security subsidy declined. Fertilizer subsidy declined. It is totally garbage of lies and incompetent, Himalayan incompetence. Totally, the economy is derailed now. You will see, this time, the market fell sharply. Sensex down above 1000 points. Nifty 50 has been below 25000. So you can realize they have not given a single penny to Bengal. Only one tax is there—GST. They are taking away our money and saying big, big talk.

In the Economic Survey, the government talks about children’s increasing addiction to social media, leading to obesity and lack of focus on studies. Many countries have banned opening social media accounts for children under 16. Is the Indian government doing this? It felt this was being discussed. But the government, without naming these social media platforms, has sold a dream to the youth relying on them. This means now the government also has expectations from YouTube, Instagram, and Facebook. But this train has long left the station.

AVGC—Animation, Visual Effects, Gaming, and Comics—will now be promoted by the government. Labs for these will be set up in 15,000 secondary schools and 500 colleges. Those who want to learn are learning on their own. Those who want to make reels are making reels. What will the government now achieve in this field? Why is it entering? In a country where making videos openly leads to goons threatening in the name of religion, FIRs get lodged, pressure is put on social media companies—that country cannot progress in video creation in this sector. This is a basic fact. Write it down and keep it in your purse.

Of course, the government’s propaganda videos might get better. Some films might become better. But now its attraction is also fading. The Prime Minister may call reels employment, but politics has also swallowed reels.

Reading many announcements of the budget, it felt the Modi government is now running after that train which has left the platform. It feels that even after arriving late, by running and holding onto the last bogie, it will board the train.

We grew up in the Bihar of the 90s. In that Bihar, a Hindi master would ask to translate a Hindi sentence into English, and the situation would get bad. The Hindi sentence would be: “I had just reached the station when the train had left the platform.” Its translation in English would be: “No sooner did I reach the station than the train had left the platform.” The same has happened with the Modi government. The Modi government kept filling the budget with so many hollow imaginations for 12 years, kept coining slogans, that now everything is exhausted. It has nothing new. Your Sunday was ruined because of the budget. You should not regret this because you have watched my excellent video on the budget.