Union Finance Minister Nirmala Sitharaman on Monday said the Centre is committed to reducing the fiscal deficit, as evidenced by the annual budgets, stressing that the national debt will be limited to 50 per cent of the GDP by 2030.
Addressing concerns about the national debt, she said that since the post-COVID period, every nation has faced debt challenges.
“We are committed to reducing the fiscal deficit, as evidenced by our annual budgets. We have openly stated our goal that by 2030, the national debt will be limited to 50 per cent of the GDP. We are consistently putting in place measures to reduce the Union Government’s debt, and international organisations have acknowledged India’s disciplined approach to debt management.” Sitharaman told reporters at Tiruchirappalli.
Highlighting inflation management, the finance minister noted that a dedicated group of ministers has been working since 2014 to ensure price stability through efficient supply chain management. Citing tactical interventions like restrictions on rice exports, she emphasised that the Centre successfully insulated domestic consumers from price hikes while simultaneously ensuring that farmers received the Minimum Support Price (MSP).
Regarding per capita income, the Union Finance Minister said, “We are implementing various measures to increase it. Despite global challenges like the pandemic, economic recovery efforts, wars, and fluctuations in fuel and crude oil prices, we have worked to ensure these burdens do not fall heavily on the public. We are definitely continuing our efforts in this direction.”
-PTI
