Tiruchirappalli: Union Finance Minister Nirmala Sitharaman on Monday said the Reserve Bank of India (RBI) was taking measures to prevent sudden fluctuations in the value of the rupee, while clarifying that the central bank does not determine the currency's value. Speaking to reporters in Tiruchirappalli, she said the RBI's efforts were aimed at preventing abrupt movements in the rupee rather than fixing its exchange rate.

Source: Moneycontrol

Her remarks come amid concerns over currency volatility and what it means for India's economy, particularly import costs and inflation. She said the Centre was continuously taking measures to ensure that external developments did not adversely affect the public.

Debt and deficit: the 2030 target

On the country's fiscal position, Sitharaman said India's fiscal deficit had been declining year after year, with the government working towards reducing the debt-to-GDP ratio to 50 per cent by 2030 — yaani, for every ₹100 of the size of India's economy, the Centre's debt would come down to ₹50. Acknowledging that concerns over the country's debt levels were justified, she maintained that the debt burden had been steadily declining, and noted that international financial institutions had recognised India's efforts on this front.

Source: Devdiscourse

50%Centre's debt-to-GDP target by 2030
2/3Share of Mudra loans she said went to women

On inflation, Sitharaman said external factors — including the COVID-19 pandemic, geopolitical conflicts and rising crude oil prices — had contributed to price pressures, and that the government was taking several measures to raise per capita income. Earlier, addressing the platinum jubilee celebrations of Seethalakshmi Ramaswami College, her alma mater, she said women's educational achievements must translate into greater opportunities for employment, enterprise and leadership, and noted that about two-thirds of Mudra loans had gone to women.