Finance Minister Nirmala Sitharaman reaffirmed the central government's strategy to reduce the fiscal deficit to 4.5% of GDP by FY26 through fiscal consolidation. Following a pandemic-induced debt surge to 89% of GDP in FY21, it has now decreased to 81%. Starting from 2026-27, the focus will shift to reducing the debt-to-GDP ratio annually. Finance Secretary TV Somanathan highlighted the importance of managing public debt. Madan Sabnavis from Bank of Baroda emphasized state compliance with FRBM norms, while NR Bhanumurthy suggested a clear roadmap by the 16th Finance Commission. Collaboration with the Reserve Bank of India and addressing fiscal challenges as outlined by economists remain essential. Read The Rest at :
Disclaimer : Mymoneytimes implements extreme caution and care in collecting data before publication. Mymoneytimes does not liable for the adequacy, accuracy or completeness of any given information. Hence we are not liable for any kind of direct or indirect loss caused by the use of such information.
