Finance Minister Nirmala Sitharaman pledges 50% GDP debt cap
Finance Minister Nirmala Sitharaman says the government is determined to keep India's public debt capped at 50% of GDP by 2030.
She highlighted that disciplined budgeting is helping reduce the fiscal deficit, and noted that the Union government had been implementing measures to reduce its debt burden, an approach that international organizations had recognized for its discipline.
Two-thirds of MUDRA loans to women
Sitharaman pointed out that while global debt shot up after COVID-19, India has been steadily bringing its own numbers down.
She also credited the Reserve Bank of India, or RBI, for keeping the rupee stable.
On a positive note for young people, she shared that two-thirds of loans from the Pradhan Mantri MUDRA Yojana go to women entrepreneurs, and called on colleges to boost research and build partnerships in fields like artificial intelligence, or AI, and biotechnology so students can stay future-ready.