New Delhi, March 27 Members of the opposition in the Rajya Sabha on Friday expressed concerns about India's energy security in the context of tensions in West Asia, and said that the Finance Bill 2026 fails to address the needs of ordinary citizens.
Participating in the discussion, Shiv Sena (UBT) MP Priyanka Chaturvedi highlighted the vulnerabilities arising from India's dependence on imported energy.
"The rupee is at a historic low of around Rs 94.70 against the dollar; foreign investors withdrew over Rs 1 lakh crore in January 2026. Nearly 85 per cent of our energy needs are import-dependent. In such a scenario, this 'reform express' risks derailing," she said, citing global uncertainties.
NCP (SP) member Fauzia Khan opposed the Bill, pointing to weakening macroeconomic indicators. She said household financial savings have declined, youth unemployment remains above 16 per cent, and the rupee continues to face sustained pressure.
"A finance bill reflects the government's priorities. This one makes investors uncertain while favouring the powerful. It does not stand with the right people," she said, urging the government to withdraw the proposed provisions.
Raising foreign policy concerns, Jammu and Kashmir National Conference MP Chowdry Mohammad Ramzan questioned Prime Minister Narendra Modi for not referring to the killing of Iran's Supreme Leader Ali Khamenei while speaking on the West Asia situation in Parliament.
"The Gulf war, which is going on, god knows how long it will go on. Our country has always been non-aligned... Their Supreme Leader died; he was a spiritual leader of Muslims, and it is sad. The Prime Minister did not mention it. There are over 22 crore Muslims in this country," he said.
Samajwadi Party MP Ramji Lal Suman alleged that the government was ignoring the concerns of the poor and the "real India".
Defending the legislation, BJP member Sikandar Kumar said the Finance Bill was aimed not at "appeasement" but at ensuring the "satisfaction" and welfare of the people.