Hypocrisy-laden message to nation: Cong slams PM's remarks head of Budget session
New Delhi (PTI): The Congress on Thursday hit out at Prime Minister Narendra Modi over his remarks on the Budget session, saying he delivers his "usual hypocrisy-laden message to the nation" before the beginning of each session and "today's performance is part of this series".
Congress general secretary in-charge Jairam Ramesh said, "He (PM) will not convene and chair all-party meetings to take the opposition into confidence on national issues."
He will suddenly have Bills introduced at the last minute and bulldozed through Parliament without the necessary legislative scrutiny, Ramesh claimed, adding that Modi would not sit in Parliament and respond to the concerns of opposition leaders, and will instead make election rally speeches in both Houses.
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"Before the beginning of each session, he will give his usual hypocrisy-laden 'desh ke naam sandesh' with Parliament as his backdrop. Today's performance is part of this series," the senior Congress leader said.
Prime Minister Narendra Modi on Thursday said the free trade pact with the European Union is for an ambitious India and urged manufacturers to benefit from new markets opening for them.
Modi also said that the nation is coming out of long-term pending problems and working towards long-term solutions.
The time has come to find solutions and not create hurdles, he said, adding his government is not confined to just files but ensuring the last-mile delivery of welfare schemes to the people.
"Our priority is always human-centric while taking steps for all-round development of the country," he told reporters in Parliament House complex in his customary briefing at the beginning of the Budget session.
An India full of confidence has emerged as a ray of hope for the world, he added.
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RBI keeps policy rate unchanged amid inflationary pressure
Mumbai (PTI): The Reserve Bank on Wednesday expectedly kept interest rates unchanged amid hopes of a global recovery on the back of ceasefire in the six-week-long US/Israel-Iran conflict.
The policy decision comes as a month and a-half-long West Asia conflict has disrupted energy supplies, shot up crude oil prices and created fiscal and inflationary pressures for import-dependent nations like India.
This is the first monetary policy review after the government announced a fresh inflation target for the RBI last month. The government has asked the RBI to maintain retail inflation at 4 per cent with a margin of 2 per cent on either side for another five years ending March 2031.
Announcing the first bi-monthly monetary policy for the current fiscal, RBI Governor Sanjay Malhotra said the Monetary Policy Committee (MPC) has unanimously decided to retain short-term lending rate or repo rate at 5.25 per cent with a neutral stance.
The rate cut pause comes on the back of the consumer price index (CPI) based headline retail inflation that moved closer to the RBI's medium-term target of 4 per cent at 3.21 per cent in February.
Additionally, the rupee has depreciated by over 4 per cent since the war, which has consequences for pushing up import inflation.
However, the rupee has appreciated by 50 paise to 92.56 against US dollar following announcement of the ceasefire by the US and Iran.
Based on the recommendation of the MPC, the RBI reduced the repo rate by 25 bps each in February, April, and December 2025 and 50 basis points in June amidst easing retail inflation.
India's retail inflation dropped to a historic low of 0.25 per cent in October 2025, marking the lowest level since the Consumer Price Index (CPI) series was introduced.
However, the rupee declined to historic low and crossed 95 against a dollar last month making imports costlier, raising fears of rise in inflation. Rupee touched a record low of 95.21 on March 30, 2026.
