TIRUCHY: The Centre is working to reduce its debt burden every year and aims to bring it down to 50% of GDP by 2030, Union Finance Minister Nirmala Sitharaman said in Tiruchy on Monday.
The Finance Minister was speaking to reporters after participating in the 75th anniversary celebrations of Seethalakshmi Ramaswami College, her alma mater.
Sitharaman said the government has been making efforts to reduce its fiscal deficit every year, both before and after the COVID-19 pandemic. She added that international financial institutions have also recognised India’s efforts to reduce its debt burden by comparing its performance with that of other countries.
On inflation, Sitharaman said a group of ministers have been working since 2014 to manage the supply of agricultural commodities and prevent shortages from driving up prices.
She said the Centre has always taken measures to regulate exports when necessary while ensuring that farmers received the minimum support price.
Sitharaman said the government was also taking steps to ensure that fluctuations in global crude oil prices, including those caused by the conflict in West Asia did not adversely affect the public.
On the rupee’s value against the US dollar, Sitharaman said the government did not determine a fixed level for the currency. "The Reserve Bank of India intervened to prevent excessive volatility but did not seek to fix the rupee at a specific value," she said.
On complaints about voters’ names being deleted during the Special Intensive Revision (SIR) of electoral rolls, she said aggrieved parties could approach the courts or stage political protests, adding that the issue could also be discussed in the State Legislative Assembly.
Responding to a question on claims by the TVK government that Tamil Nadu’s debt is getting reduced, Sitharaman said the issue should be discussed in the State Assembly, where the Opposition could raise questions and seek clarity for the public. “As a Union Minister, it would not be appropriate for me to speak about the financial position of an individual State,” she said.
