Nirmala Sitharaman Defends Gradual Fiscal Consolidation And 4.3% Deficit Target | India Today News

On this Special Report, Union Finance Minister Nirmala Sitharaman addresses key economic concerns following the budget presentation. Responding to queries on fiscal prudence, she stated, 'It is a responsible number and realistic number,' referring to the gradual reduction of the fiscal deficit target to 4.3%. Sitharaman clarified that the government's gross borrowing of over ₹17 lakh crore is manageable due to significant repayment obligations. She also detailed India's strategic approach to Artificial Intelligence and the Semiconductor Mission (ISM 2.0), emphasizing that AI must benefit the country's demographic dividend without unthinkingly replacing human effort. The Finance Minister highlighted the growth in direct tax collections and the healthy buoyancy in indirect taxes. Additionally, the Revenue Secretary provided clarifications on the transition of buyback tax to a capital gains tax framework, framing it as a relief for shareholders. The session underscores the government's focus on strategic resilience and steady economic growth amidst global uncertainties.

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