Nirmala Sitharaman reaffirms govt's fiscal discipline push, puts public debt

Benchmarks Nifty22,753.20153.21FEATURED FUNDS★★★★★UTI Aggressive Hybrid Fund Regular Plan-Growth5Y Return8.52 % Invest NowFEATURED FUNDS★★★★★Motilal Oswal Midcap Fund Direct-Growth5Y Return17.9 % Invest NowEnter search text:

The Economic Times daily newspaper is available online now. Read Today's Paper Nirmala Sitharaman reaffirms govt's fiscal discipline push, puts public debt target at 50% of GDP by 2030ET OnlineLast Updated: Oct 26, 2026, 04:03:00 PM ISTSynopsis

FM Sitharaman linked the government's broader economic priorities -- fiscal consolidation, inflation management and currency stability -- with the need to expand employment and enterprise opportunities, particularly for women, through education, skill development and industry participation.

Union Finance Minister Nirmala Sitharaman has reaffirmed the Centre's commitment to fiscal consolidation, setting a target of capping national debt at 50% of gross domestic product by 2030. She also said the government was working to contain inflationary pressures and the Reserve Bank of India was seeking to prevent sharp fluctuations in the rupee's value.

Speaking to reporters in Tiruchirappalli on October 26, Sitharaman said the Centre's annual budgets reflected its resolve to bring down the fiscal deficit. She added that the Union government had been implementing measures to reduce its debt burden, an approach that international organisations had recognised for its discipline.

Also read | A missed call for China is a loud wake-up call for desi companies

Acknowledging concerns about India's debt levels, the finance minister said governments across the world had faced mounting debt challenges since the Covid-19 pandemic.

She, however, maintained that India's fiscal deficit had declined consistently over the years and that the country's debt burden was on a downward trajectory.

Live Events

On the rupee, Sitharaman clarified that the RBI's role was to prevent sudden movements in the currency rather than determine its exchange rate. Her comments come amid concerns about currency volatility and its potential implications for import costs and domestic inflation.

Addressing inflation, the minister said the government was taking steps to raise per capita income and shield people from adverse economic developments.

Sitharaman identified the Covid pandemic, geopolitical conflicts and rising crude oil prices as external factors that had contributed to inflationary pressures.

The Centre, she said, continued to take measures to limit their impact on the public.

Earlier, speaking at the platinum jubilee celebrations of Seethalakshmi Ramaswami College (SRC), her alma mater, Sitharaman called for greater economic opportunities for women to accompany the progress made in education.

Also read | Uday Kotak has a $170 billion warning for 'strong insurance policy' that India owns now

She said the next priority was to ensure that women's educational achievements translated into employment, entrepreneurship and leadership opportunities.

Highlighting women's participation in small businesses, Sitharaman noted that approximately two-thirds of loans disbursed under the Pradhan Mantri MUDRA Yojana had gone to women, helping them establish and expand their enterprises.

The finance minister also urged educational institutions to deepen their research capabilities, build stronger industry partnerships and make better use of government programmes designed to improve skills and employability.

Referring to the government's industrial training institute (ITI) modernisation initiative, she said the programme involved upgrading 1,000 government ITIs with an allocation of Rs 60,000 crore, with industry participating as a co-manager.

Sitharaman further called for international cooperation in emerging technology fields, including artificial intelligence, semiconductors, biotechnology and climate science. Such collaboration, she said, would help prepare students for future opportunities in a changing global economy.

The FM's comments linked the government's broader economic priorities -- fiscal consolidation, inflation management and currency stability -- with the need to expand employment and enterprise opportunities, particularly for women, through education, skill development and industry participation.

With inputs from PTI & ANI
Add as a Reliable and Trusted News Source Add Now!
(You can now subscribe to our Economic Times WhatsApp channel)
Read More News onNirmala SitharamanIndia public debt targetindia fiscal deficitindia national debtindian economyIndia GDPGDP
(You can now subscribe to our Economic Times WhatsApp channel)
Read More News onNirmala SitharamanIndia public debt targetindia fiscal deficitindia national debtindian economyIndia GDPGDP Prime ExclusivesInvestment IdeasStock Report PlusePaperWealth Edition

• Will oil turn into a lingering problem? Is the world economy, India, or the market prepared?

• KYB and KYC: Business behind the wealth creator called ‘Divi’s Lab’ – Part 2, concluding

• KYB and KYC: Business behind the wealth creator called “Divi’s Lab” – Part 1

• The global business of promising more

• One company, 2 words. Bond yield and CDS: Will they decide the fate of global markets?

• Business of Odd Things: Inside an industry that farms fish that nobody is meant to eat

• 1
• 2
• 3

View all StoriesContinue reading with one of these options:Limited AccessFreeLogin to get access to some exclusive stories
& personalised newslettersLogin NowUnlimited AccessStarting @ Rs120/monthGet access to exclusive stories, expert opinions &
in-depth stock reportsSubscribe NowET

Unlock Access to All Exclusives with ETPrime FREE TRIAL

15 Days Free: Unlock All ETPrime Exclusives, Market Tools & ePapers

Trial offer expiring in00 : 05 : 00

I'd rather pay ₹2599 now

Uh-oh! This is an exclusive story available for selected readers only.

Worry not. You’re just a step away.

Prime Account Detected!

It seems like you're already an ETPrime member with

Login using your ET Prime credentials to enjoy all member benefits

Log out of your current logged-in account and log in again using your ET Prime credentials to enjoy all member benefits.

Unlock ETPrime's Exclusive Stories Today!

Big Price Drop! Flat 40% Off

Student Only OfferAlready a Member? Sign In nowAlready a Member? Sign In nowAlready a Member? Sign In now

Offer Exclusively For You

Save up to Rs. 700/-

ON ET PRIME MEMBERSHIP

Avail Offer

Offer Exclusively For You

Get 1 Year Free

With 1 and 2-Year ET prime membership

Avail Offer

Offer Exclusively For You

Get 1 Year Free

With 1 and 2-Year ET prime membership

Avail Offer

Offer Exclusively For You

Get Flat 40% Off

Then ₹ 1749 for 1 year

Avail Offer

Offer Exclusively For You

ET Prime at ₹ 49 for 1 month

Then ₹ 1749 for 1 year

Avail Offer

Special Offer

Get flat 40% off on ETPrime

Avail OfferAvail OfferClaim NowAlready a Member? Sign In now

Need Assistance?

Connect with an ETPrime expert for personalized support and guidance

+91 9484700004'; }); } if(listing) { var h3 = "You tried reading " + listArr.length + " locked stories in the past " + threshold + " days.", h4 = "Become an ET Prime member and don't miss out on these exclusive stories."; var html = '

' + h3 + '

' + h4 + '

' + listing + '

'; $('#paidSCWidget').html(html); var callback = $('#paidSCWidget').attr('data-callback'); if(callback && window[callback]) { window[callback](); } customDimension.dimension72 += ' | Shown SYFT no Trial_With Missed Paywalled Articles Collection'; } else { _processNormal() } } }); } else { _processNormal(); } } catch (e) { _processNormal(); } }, function () { _processNormal(); }); //console.log('storyCollectionLoad', $); }

What’s Included with

ETPrime Membership

1Exclusive Insights That Matter

Uncover the truth with our investigative stories

Make strategic moves using the real-world case studies

Read industry-specific stories to identify emerging trends

Spot opportunities with
in-depth insights that matter

• Trump temper on H-1B visas is forcing Indians to do these things to stay put in US

  What Adani’s US indictment means for India Inc’s overseas fundraising

• Why veterans like Reliance, L&T are on acquisition spree? Aswath Damodaran has an answer.

  Will China’s dollar bond sale in Saudi Arabia trump the US in financial world?

• Huawei launches its own OS to compete with Google and Apple. But can it win beyond China?

  The problem with lab grown diamonds

• Why a falling rupee is a better option for the economy

  A list of top 20 momentum stocks that have delivered massive returns in one year

2Invest Wisely With Smart Market Tools & Investment Ideas

Alpha Trade

Get daily trade ideas from SEBI-registered research analysts.

Investment Ideas

Grow your wealth with stock ideas & sectoral trends.

Stock Reports Plus

All-in-one stock research with Stock Score, peer comparison & key signals.

BigBull Portfolio

Get to know where the market bulls are investing to identify the right stocks.

Stock Analyzer

Check the score based on the company's fundamentals, solvency, growth, risk & ownership to decide the right stocks.

Market Mood

Analyze the market sentiments & identify the trend reversal for strategic decisions.

Stock Talk Live at 9 AM Daily

Ask your stock queries & get assured replies by ET appointed, SEBI registered experts.

3Stay informed anytime, anywhere with ET ePaper

ePaper - Print View

Read the PDF version of ET newspaper. Download & access it offline anytime.

ePaper - Digital View

Read your daily newspaper in Digital View & get it delivered to your inbox everyday.

Wealth Edition

Manage your money efficiently with this weekly money management guide.

TOI ePaper

Read the PDF version of TOI newspaper. Download & access it offline anytime.

Deep Explainers

Explore the In-depth explanation of complex topics for everyday life decisions.

Health+ Stories

Get fitter with daily health insights committed to your well-being.

Personal Finance+ Stories

Manage your wealth better with in-depth insights & updates on finance.

5Enjoy Complimentary Subscriptions From Top Brands

Stream new documentaries from all across the world every day.

Stories you might be interested in