India - US interim trade agreement
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Parliament Budget Session: Both Houses to further discuss Union Budget 2026-27 on Wednesday
The Economic Times· 2026-02-11 02:48
Group 1: Government Statements and Reports - Union New and Renewable Energy Minister Pralhad Joshi will address the implementation status of recommendations from the 10th Report of the Standing Committee on Energy regarding solar power projects [1] - MP Chandra Sekhar Pemmas will discuss the withdrawal of advance from the Contingency Fund of India for servicing interest on Sovereign Guarantee Bonds raised by Mahanagar Telephone Nigam Limited (MTNL) [2] - SP Singh Baghel will report on the implementation of observations and recommendations from the Fourth Report of the Department-related Parliamentary Standing Committee on Agriculture, Animal Husbandry, and Food Processing concerning the Ministry of Fisheries, Animal Husbandry, and Dairying [5][9] Group 2: Budget Discussion and Trade Agreements - The Opposition criticized the framework of the India-United States interim trade agreement, questioning the justification of a reciprocal tariff structure where tariffs of 18% apply on one side and zero on the other [6][9] - India's total bilateral trade with the US is approximately 130 billion USD, with a trade surplus of about 45 billion USD, raising concerns over a commitment to purchase 500 billion USD worth of American goods over five years [6][9] - The Union Budget for 2026-27, presented by Finance Minister Nirmala Sitharaman, includes proposals for seven high-speed rail corridors, new dedicated freight corridors, and the operationalization of 20 national waterways over the next five years [7][9]