India Targets Government Debt At 50% Of GDP By 2030: Nirmala Sitharaman

New Delhi, Oct 27 (KNN) Union Finance Minister Nirmala Sitharaman on Monday said the Centre remains committed to reducing the fiscal deficit and aims to limit the Union Government’s debt to 50 per cent of gross domestic product (GDP) by 2030.

Addressing concerns over the country’s debt position, Sitharaman said governments across the world had faced debt-related challenges since the COVID-19 pandemic.

“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,” she said.

Govt Focuses On Disciplined Debt Management

Sitharaman said the Centre was consistently taking measures to reduce the Union Government’s debt and maintain fiscal discipline, reported PTI.

“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,” she said.

The Finance Minister’s remarks reaffirm the government’s focus on fiscal consolidation and its stated medium-term debt target amid continuing global concerns over elevated public debt levels.

(KNN Bureau)