Finance Minister Nirmala Sitharaman says RBI is smoothing rupee swings
Finance Minister Nirmala Sitharaman shared that the Reserve Bank of India is actively working to smooth out sudden swings in the rupee's value.
She explained that while the RBI does not set the rupee's price, its job is to keep things stable, especially since currency ups and downs can make imports pricier and push up inflation.
Finance Minister flags 50% debt target
Sitharaman also touched on India's finances, noting that the fiscal deficit has been shrinking and there is a plan to get national debt down to 50% of GDP by 2030.
She pointed out that inflation is being driven by global issues like conflicts and rising oil prices, but said the government is taking steps to help.
On a positive note, she highlighted women's growing role in business, mentioning that two-thirds of Mudra loans now go to women entrepreneurs.