{
  "id": 4428334,
  "title": "India met FY26 fiscal consolidation target, says Sitharaman in the US",
  "url": "https://urgent.news/2026/08/30/india-met-fy26-fiscal-consolidation-target-says-sitharaman-in-the-us",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-30T12:56:30.000Z",
  "source": {
    "name": "Live Mint",
    "slug": "live-mint",
    "url": "https://www.livemint.com/news/india/india-met-fy26-fiscal-consolidation-target-says-sitharaman-in-the-us-11788086088501.html"
  },
  "original_language": "en",
  "account": "Union Finance Minister Nirmala Sitharaman stated in the US that India has met its fiscal consolidation trajectory for 2025-26 and aims to reduce government borrowing to 50% of GDP by 2030. Speaking to Indian diaspora members in Chicago, Sitharaman affirmed that the government adhered to a planned path of fiscal discipline, with a fiscal deficit of 4.4% of GDP in 2025-26. She emphasized that the government had met the last-mile target of reaching this deficit target by 2025-26. The minister also highlighted India's debt position, contrasting it with advanced economies whose debt is over 200% of GDP. She defended the government's fiscal approach, stating that improvements in credit ratings were due to proper economic management rather than cuts to social welfare spending. Sitharaman called for greater participation from the Indian diaspora, including capital, ideas, and talent, to support India's 2047 target of becoming a developed economy. She also detailed how the government managed disruptions in global supplies of fertilizers, crude oil, and liquefied petroleum gas, ensuring no impact on Indian farmers, households, and logistics. During her nine-day visit to Canada and the US, Sitharaman will meet investors, business leaders, and represent India at the G20 Finance Ministers and Central Bank Governors' meeting in Asheville, North Carolina, on 31 August and 1 September.",
  "summary": "Speaking to members of the Indian diaspora in Chicago during her official visit to the US, India's finance minister, Nirmala Sitharaman, said the government had set a target of reducing borrowing to 50% of GDP by 2030.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}