India-US Trade Deal: Nirmala Sitharaman said that the US has reduced the tariff imposed on India from 50 percent to 18 percent, which is much lower than the tariffs imposed on Bangladesh, Cambodia, and other countries.

Budget 2026, trade deals, and agricultural market… what did Finance Minister Nirmala Sitharaman say?

Nirmala Sitharaman on India-US Trade Deal: Union Finance Minister Nirmala Sitharaman has said that the 2026 budget is the first concrete step towards the goal of 'Developed India 2047'. Regarding questions raised about the India-US trade deal and the opening up of the agricultural sector, she clarified that Commerce Minister Piyush Goyal has already clarified the position on the claims made by the US. She said that the interests of the agricultural sector have been fully taken into account, and Piyush Goyal has also clearly stated this in Parliament.

Speaking to ABP News, the Finance Minister said that the full picture of this trade deal will only become clear once the official agreement is finalized. He also noted that the US has reduced tariffs on India from 50 percent to 18 percent, which is significantly lower than those imposed on Bangladesh, Cambodia, and other countries. Calling this a positive sign for India, he said that final conclusions can only be drawn once the agreement is formally signed.

No compromise on farmers and the dairy sector

Nirmala Sitharaman stressed that the interests of farmers and the dairy sector have not been compromised. Citing Prime Minister Narendra Modi's statement, she said that the government's focus is not just on increasing production, but also on quality. If "Made in India" products are of the highest quality, people will proudly adopt them.

The Finance Minister further stated that Prime Minister Modi's goal is to ensure that everything manufactured in India is of global quality. This vision will strengthen the "Make in India" initiative and establish India as a trusted global manufacturing hub.

What is the impact of stopping oil purchases from Russia?

When Finance Minister Nirmala Sitharaman was asked whether India would have to buy more expensive crude oil if it did not purchase it from Russia, she replied that whatever decision Prime Minister Narendra Modi makes in the national interest will be in the best interest of the country. Expressing confidence on this issue, she said that the government takes every step with national interest in mind.

Regarding the question of rating the budget, the Finance Minister said that this is not a budget that should be measured in numbers. He added that this budget has been prepared keeping in mind the voices and needs of the people, so rating it is not appropriate.