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.
\n\nAddressing concerns about the national debt, she said that since the post-COVID period, every nation has faced debt challenges.
\n\n"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, as reported by PTI.
\n\nRegarding rising prices of essentials such as rice, Sitharaman stated that a dedicated Group of Ministers has been actively monitoring price stability since 2014 through effective supply management. She noted that export restrictions are calibrated to protect domestic consumers while ensuring farmers receive the Minimum Support Price (MSP).
\n\nShe further detailed continuous efforts to boost per capita income while absorbing external shocks-including global market disruptions, geopolitical conflicts, and high crude oil prices-to prevent…
Original source: https://www.timesnownews.com/business-economy
