EXCLUSIVE: FM Nirmala Sitharaman Emphasises Govt’s Focus On Fiscal Discipline

The global rating agencies are seemingly still biased in their view of the Indian economy. Answering a question on this issue at the India Today-Business Today Budget Round Table 2025, Finance Minister Nirmala Sitharaman highlighted that India's fiscal deficit target for 2025-26 at 4.4% closely matches the capital expenditure of 4.3% of GDP. She emphasised that borrowing is directed towards asset creation, not servicing loans or salaries. Sitharaman called for recognition of this fiscal discipline by observers and rating agencies.