Aam Aadmi Party MP Malvinder Singh Kang on Monday launched a strong critique of the Union Government during his remarks on the Finance Bill 2026, arguing that official claims of economic progress over the past decade do not reflect the situation faced by ordinary citizens.
He said that while the government continues to project a picture of growth, several key indicators point to mounting economic stress. Kang highlighted rising inflation and a sharp depreciation of the Indian rupee, noting that it has crossed 90 against the US dollar. He also took aim at fuel prices, recalling earlier promises of cheaper petrol, and said current rates, which have crossed ₹100, along with rising diesel costs, have placed additional pressure on households.
Turning to the agricultural sector, Kang said the promise of doubling farmers’ income remains unfulfilled. Instead, he claimed that the cost of cultivation has surged significantly, with expenses on fertilisers, pesticides and other inputs increasing sharply, leaving farmers struggling to stay afloat.
He also questioned the narrative around India’s global economic standing, pointing out that while the country is counted among the world’s largest economies, its per capita income ranking has slipped to 142. According to him, this reflects growing inequality and rising poverty levels.
Kang further alleged that government policies have favoured large corporations over small stakeholders. He claimed that loans worth more than ₹16 lakh crore owed by big companies have been written off as non performing assets, while farmers continue to demand assured Minimum Support Price for their produce.
Criticising the Agniveer recruitment scheme, he said it has created uncertainty among the youth. He argued that young aspirants who once viewed the armed forces as a stable career option are now unsure about their future, leading to frustration in several regions. He mentioned Haryana as an example, where unemployment, he said, is pushing some youth towards negative influences.
On the issue of trade, Kang raised concerns about India’s ongoing engagement with the United States. He warned that such agreements could adversely affect farmers, particularly those involved in dairy, apple cultivation in Himachal Pradesh and Jammu and Kashmir, and maize production. He said these policies expose Indian farmers to competition that is not on equal terms.
He also drew attention to cross border trade opportunities through Punjab, noting that while large scale trade continues through routes like Mumbai and Karachi, the Amritsar Lahore corridor remains closed. According to him, reopening this route could significantly benefit farmers across northern states, but has not been pursued due to a lack of political will.
Addressing social welfare, Kang criticised the government for not taking concrete steps towards restoring the Old Pension Scheme. He said this has left many employees uncertain about their financial security after retirement.
He also pointed to the declining effectiveness of schemes such as MGNREGA, stating that it once served as a vital source of income for rural workers but has since weakened, affecting the livelihoods of millions.
Summing up his speech, Kang said policies impacting farmers, workers and the youth need urgent attention. He emphasised that genuine development cannot be achieved through rhetoric alone and must be measured by how well the country supports those who sustain its economy and safeguard its future.
