Business EconomyPosted at: Oct 26 2026 6:39PM

New Delhi, Oct 26 (UNI) union Finance Minister Nirmala Sitharaman on Monday reiterated the Centre’s commitment to fiscal consolidation, saying the government aims to bring the national debt down to 50 per cent of gross domestic product (GDP) by 2030.
Speaking to reporters after attending an event, Sitharaman said the government had consistently outlined its debt-reduction strategy in successive union budgets and was working towards lowering the Centre’s debt burden.
"International organisations had recognised India’s approach to managing public debt. Economies worldwide had come under pressure from rising debt levels following the Covid-19 pandemic," she said.
Asked about Tamil Nadu’s financial position and concerns raised by former state finance minister Thangam Thennarasu over the state’s rising debt, Sitharaman said the issue should be discussed in the state legislative assembly.
She said a debate in the assembly would allow the relevant facts to be presented before the public. The Finance Minister took a similar position when asked about cases against former DMK ministers filed by the ruling TVK, describing them as matters concerning the state.
Sitharaman also highlighted the Centre’s efforts to keep inflation under control. "A dedicated group of ministers had been working on price stability since 2014, with a focus on managing supply chains," Sitharaman said.
She cited restrictions on rice exports as one of the measures adopted to ensure adequate domestic availability and shield consumers from price increases. At the same time, she said the government had sought to ensure that farmers continued to receive the minimum support price (MSP).
The Centre’s approach, she indicated, has involved balancing the need to keep essential commodities affordable for consumers with the interests of agricultural producers.
On improving India’s per capita income, the Finance Minister said the government was pursuing multiple measures to achieve the objective.
She noted that the Indian economy had navigated several external shocks, including the pandemic, geopolitical conflicts and volatility in crude oil and fuel prices. According to Sitharaman, the government had worked to prevent these developments from placing an excessive burden on the public.
She added that efforts to raise per capita income would remain a priority as the government continues to address economic challenges.
UINI VK RSA