Finance Minister Nirmala Sitharaman pledges to cut India's fiscal deficit by 2030
Finance Minister Nirmala Sitharaman said the government will keep the national debt below 50% of GDP by 2030, citing budget measures.
In a press briefing on Monday, Finance Minister Nirmala Sitharaman responded to questions about India's post-Covid debt challenges. She reiterated that the Union Government is dedicated to lowering the fiscal deficit, with the goal of capping the national debt at 50% of gross domestic product by 2030. Sitharaman pointed to the series of budgetary measures introduced each year as evidence of this commitment.
She added that international organisations have recognized India's disciplined debt-management strategy. The remarks underscore the government's fiscal roadmap amid global concerns about sovereign debt levels.
Why it matters
India's debt target affects fiscal stability and investor confidence in the world's third-largest economy.
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