Tiruchirappalli, Oct 26 : Union Finance Minister Nirmala Sitharaman has reaffirmed the Centre’s commitment to reducing the fiscal deficit and managing national debt. She said the government aims to limit the national debt to 50 per cent of India’s Gross Domestic Product (GDP) by 2030.
Speaking to reporters in Tiruchirappalli, Tamil Nadu, on Monday, Sitharaman said the Union government has been taking consistent steps to reduce its debt through annual budgets and other fiscal measures. She added that international organisations have recognised India’s disciplined approach to debt management.
Centre’s Plan to Control National Debt
Addressing concerns over rising national debt, Sitharaman said countries across the world have faced financial challenges since the COVID-19 pandemic. She stressed that the Centre remains focused on reducing the fiscal deficit and maintaining financial stability.
The government’s target of limiting national debt to 50 per cent of GDP by 2030 reflects its efforts to strengthen fiscal management, she said.
Sitharaman Responds to Tamil Nadu Debt Concerns
Responding to questions about Tamil Nadu’s rising debt, particularly concerns raised by former state Finance Minister Thangam Thennarasu, Sitharaman said the issue should be debated in the State Assembly. She said discussions in the Assembly would help the public understand the facts surrounding the state’s financial position.
She also described cases filed against former DMK ministers by the ruling TVK as matters concerning the state.
Centre’s Measures to Control Inflation
The Finance Minister highlighted the Centre’s efforts to control inflation and protect consumers from rising prices. She said a dedicated group of ministers has been working since 2014 to maintain price stability through better supply chain management.
Sitharaman cited restrictions on rice exports as an example of the government’s intervention to control domestic prices. According to her, such measures helped protect consumers from price increases while ensuring farmers received the Minimum Support Price (MSP).
Sitharaman on Opposition Protests and SIR
Commenting on opposition protests over alleged irregularities related to the Special Intensive Revision (SIR) and demands for action against the Chief Election Commissioner (CEC), Sitharaman said political groups can use different democratic methods to seek justice.
She noted that approaching courts and organising street protests are both recognised ways for opposition parties and other groups to raise their concerns.
Government Focuses on Increasing Per Capita Income
Sitharaman also said the Centre continues to take measures to increase India’s per capita income. She acknowledged the challenges posed by the COVID-19 pandemic, global conflicts and fluctuations in fuel and crude oil prices.
The Finance Minister said the government has worked to prevent these global economic pressures from placing an excessive burden on the public and would continue its efforts to improve economic conditions.
The Centre’s focus on reducing the fiscal deficit, managing national debt, controlling inflation and increasing per capita income remains central to its broader economic strategy.
