Tiruchirappalli (Tamil Nadu), Oct 26 (PTI) 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 here.
Responding to a question regarding state finances, particularly the concerns raised by the former Tamil Nadu Finance Minister Thangam Thennarasu over the state’s escalating debt trap, Sitharaman said that such matters be debated in the State Assembly so that the truth can reach the public. She maintained a similar neutral stance in respect of cases filed against former DMK ministers by the ruling TVK, terming it a state-level matter.
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).
On the nature of democratic dissent, Sitharaman remarked that utilising legal routes through courts or holding street protests are both standard methods being employed by various opposition groups to seek justice.
“There are many methods, such as taking the legal route through the courts to seek justice or, as an opposition party, protesting on the streets. Both methods are being utilised by various groups,” she replied when asked about the Opposition parties continuously protesting against alleged irregularities regarding the SIR and demanding action against the CEC.
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 JSP JR JSP VGN ADB
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