No plans to go back to FRBM target of 40% debt-to-GDP ratio immediately, says Expenditure Secy Manoj Govil

The expenditure secretary, Manoj Govil, clarified that there are no immediate plans to return to the Fiscal Responsibility and Budget Management (FRBM) target of a 40% debt-to-GDP ratio. While fiscal consolidation remains a priority, the government is focused on addressing immediate economic needs, including post-pandemic recovery and infrastructure development. The decision to delay returning to the FRBM target reflects the government’s flexible approach to fiscal policy, taking into account the challenges faced by the economy in the short term, while planning for long-term sustainability.