New Delhi, Feb 10 (PTI) Taking a dig at Rahul Gandhi's "dead economy" remarks on India, which echoed comments made by US President Donald Trump, Shiv Sena Rajya Sabha member Milind Murli Deora on Tuesday said the only thing that is dead is certain people's confidence in India and its economy, with only their hatred for the country alive.

Participating in a discussion on Union Budget 2026-27, Deora asked if India's economy was indeed dead, why did the EU signed "the biggest trade deal" with India and not with China or the US and asserted all countries in the world want to do trade with India and want to sign trade deals.

"Some people overseas and more importantly right here had the wilful ignorance to call our economy dead," he said, without naming Gandhi and Trump.

If India's economy is dead, he asked how is India the fastest growing major economy in the world; how is UPI processing over 70 crore transactions per day making India the global leader in real time digital payment.

Similarly, he pointed out that the 'Jan Dhan Yojna' alone brought 50 crore Indians into the formal banking system and transferred Rs 41 lakh crore directly to citizens saving Rs 3.5 lakh crore of tax payers money by preventing leakages and inefficiencies.

Besides, gross GST revenues increased from Rs 11 lakh crore in 2020 to Rs 22 lakh crore in 2025, effectively doubling over four years, he said, adding these would not have been possible if the Indian economy was dead.

"If the Indian economy is dead, why did the Europeans sign the biggest trade deal with India and not with China or the United States?," Deora asked.

All the countries in the world across continents want to do trade with India and want to sign trade deals with India, he said, adding "these are being done on our terms not on their terms".

"The only thing that is dead is certain people's confidence in India, in India's economy and India's people. The only thing that is alive is their hatred for India," Deora said.

Countering senior Congress leader P Chidambaram's remarks on lack of private sector investment, he said,"Private sector investments have peaked to Rs 6.5 lakh crore in 2024, which is 66 per cent more than the figure in 2021." He alleged that "draconian" amendments brought by the former finance minister in the Prevention of Money Laundering Act made it hard for entrepreneurs to do business in this country and also blamed the UPA government for ignoring the manufacturing sector, a key for creating jobs.

"When the previous governments have completely ignored manufacturing and had written off manufacturing, this government has used PLI (to boost manufacturing)... in the last ten years there has been a tectonic shift in thinking about manufacturing," Deora said, adding Rs 24,000 crore have been spent on PLI and 12.5 lakh jobs created in this country.

He said the budget was presented amid a very volatile and disruptive world and when there is political and economic instability in the world, India stands alone as a rare island of macro-economic growth and stability.

Surendra Singh Nagar (BJP) also lauded the Budget saying it is an important step towards Viksit Bharat and said the spending on infrastructure will help propel India towards its goals, while helping its citizens fulfil their aspirations.

Opposition members, however, continued their attack on the government over the budget.

Kanimozhi NVN Somu (DMK) termed the Union Budget 2026-27 as a "failed budget" which is anti-poor and detached from the country's reality.

She said there is no relief for workers, farmers and the middle class and continues to favour corporates.

Similarly, Neeraj Dangi (Congress) said how stock markets crashed on the day when the budget was announced showed how the budget was many investors lost "lakhs of crores" of rupees, failing to meet the expectations of investors, market and common people.

Sukhendu Sekhar Ray (TMC) criticised the government for failing to come up with concrete steps to address unemployment while highlighting the challenges faced by jute industries. PTI RKL RKL DR DR