Shaktikanta Das: Fiscal Prudence Drives Massive Infra Push

At the Business Today Banking & Economy Summit, Shaktikanta Das, Principal Secretary to the Prime Minister, highlighted fiscal prudence, sustained capital expenditure, and manufacturing resurgence as key pillars of India’s economic strength. He noted the fiscal deficit’s decline from 9.2% of GDP in FY22 to 4.4% in FY26, with further consolidation budgeted at 4.3% in FY27. Central government debt is targeted to fall toward 50% of GDP by 2031. Capital expenditure has risen fourfold since FY18, with ₹12.2 lakh crore budgeted for FY27. He also underscored infrastructure expansion and manufacturing growth, including India becoming the world’s second-largest mobile phone manufacturer.