New Delhi, Mar 27 (PTI) Opposition parties in the Rajya Sabha on Thursday raised concerns over the US tariff burden on India, calling for better rupee management, stricter control on non-banking financial companies (NBFCs), and an increase in the PM-KISAN financial assistance to Rs 10,000 per beneficiary.

During a discussion on the Finance Bill, 2025, Senior Congress leader P Chidambaram on Thursday asked the government to spell out India's response to US President Donald Trump's threat of tariff war, alleging that no discussion in Parliament or consultation with Opposition parties has been held on the matter.

Referring to Trump's statement that the US will impose tariffs from April 2, the former finance minister said, "What is the government's response? What is India's response? There has been no statement of policy, no discussion in Parliament, no consultation with Opposition parties. The government is holding its cards close to its chest, if it has any cards at all." "Is this a genuine change of heart? Is it a genuine change of policy? I don't believe so. I think this is the effect of Mr Donald Trump. The Trump Effect has forced the government to reduce these duties," Chidambaram said.

Congress leader Rajeev Shukla expressed alarm over the impending trade tensions, warning of a "substantial tariff burden" after April 1.

He criticised the government's reduced state funding and advocated for increased expenditure on health and infrastructure.

YSRCP leader Ayodhya Rami Reddy Alla, while praising the government as "disciplined and hardworking", urged the need for a comprehensive sector-wise development vision for the next 25 years.

He stressed the importance of aligning planning and expenditure within a 3 per cent deviation.

Highlighting India's economic challenges, Vikramjit Singh Sahney of the Aam Aadmi Party (AAP) said despite being one of the fastest-growing economies, the country ranks 124th in per capita income. He advocated for expanded free ration and enhanced farmer support.

He said the annual financial assistance of Rs 6,000 per beneficiary under the PM-KISAN should be enhanced to Rs 10,000.

The Opposition also raised concerns about high GST rates, startup closures, and unemployment.

Congress's Renuka Chowdhury criticised the Budget preparation, noting that 47 departments faced cuts and highlighting the growing job crisis among youth.

"People are not asking for borewells now, they are complaining their children at 35 years are without jobs and not able to find a bride." Abdul Wahab (IUML) demanded increase in the MPLAD funds and check on NBFC banks mushrooming in Kerala.

He also expressed concerns over closing down of 50 per cent of startups in the country and 18 per cent GST imposed on even used old cars.

Other issues raised included demands for rationalisation of GST, and addressing the challenges in the banking and insurance sectors.

Dharmshila Gupa (BJP) also participated in the debate. PTI LUX TRB

US tariff impact could prompt calls for tighter rupee management, stricter NBFC oversight and increased PM KISAN support. Opposition members warned of a looming tariff impact from US measures and pressed the government to state India's response, improve rupee management, and tighten oversight of non-banking financial companies. They also criticised budget cuts, urged increased spending on health and infrastructure, called for enhancement of PM KISAN support, rationalisation of GST, steps to stem startup closures and youth unemployment, and reforms in banking and insurance to address systemic and employment challenges.