During her recent visit to the United States, Union Finance Minister Nirmala Sitharaman reiterated India’s commitment to fiscal consolidation, aiming to bring the fiscal deficit below 4.5% of GDP by 2026. Addressing the Indian diaspora in San Francisco, Sitharaman highlighted the strategic plan initiated in 2021 to manage the fiscal deficit, which had surged during the COVID-19 pandemic. She stated, “We set year-on-year targets and committed to bringing the fiscal deficit below 4.5% by 2026. And that’s what we have been following each year without fail.”
The Finance Minister also emphasized India’s growing significance in global trade, noting that international institutions like the IMF and World Bank recognize the country’s economic potential. She underscored the government’s focus on the ‘Viksit Bharat’ 2047 vision, which prioritizes the welfare of women, youth, and farmers.
Source (full link):
https://www.businesstoday.in/india/story/nirmala-sitharaman-us-visit-india-committed-to-bringing-fiscal-deficit-below-45-by-2026-says-finance-minister-472777-2025-04-21
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