TIRUCHY: The centre is stepping up efforts to contain inflation through effective management of essential commodity supplies and measures to shield consumers from global crude oil price fluctuations, while targeting a reduction in India’s debt-to-GDP ratio to 50% by 2030, Union Finance Minister Nirmala Sitharaman said on Monday, adding that TN government’s claims of having reduced the state’s debt should be discussed in the Assembly.
Speaking to reporters after participating in the platinum jubilee celebrations of Seethalakshmi Ramaswami College, her alma mater, Sitharaman said a group of ministers had been working since 2014 to prevent shortages of agricultural commodities from driving up prices. “That is why rice exports were restricted for a period,” she said, adding that the Centre had taken such measures to maintain domestic supplies while ensuring farmers received the minimum support price (MSP).
She said the government was also working to increase per capita income while preventing global developments, including geopolitical conflicts and rising crude oil prices. On the rupee’s movement against the US dollar, Sitharaman said, “The RBI takes the necessary steps to prevent excessive fluctuations, but it does not attempt to fix the rupee at a particular level.”
On the Centre’s finances, Sitharaman said efforts to reduce the fiscal deficit had continued every year, both before and after the Covid-19 pandemic. Responding to a question on the Tamil Nadu government’s claim that it had reduced the state’s debt, Sitharaman said the matter should be discussed in the State Legislative Assembly. “As Union Finance Minister, it would not be appropriate for me to comment on the financial position of an individual state,” she said.
Sitharaman urged women to understand banking, fixed deposits and stock market investments while remaining vigilant against digital financial fraud. Looking ahead to the college’s centenary in 2051, she called for research partnerships with institutions including NIT Tiruchy, the ICAR National Research Centre for Banana, BHEL and Bharathidasan University.
She urged the college to mentor nearby ITIs under the Centre’s Rs 60,000-crore scheme (PM-SETU) to upgrade 1,000 government ITIs, with industry participating as an anchor partner.
