Delhi/Hyderabad, Oct 3 (Maxim News): India has successfully navigated global uncertainty caused by the West Asia crisis, Finance Minister Nirmala Sitharaman said on Saturday.
Addressing the 5th Kautilya Economic Conclave, she said India’s economic fundamentals remain intact and have strengthened.
Sitharaman said global public debt reached nearly 94 per cent of GDP in 2025. She added that it could reach 100 per cent by 2029.
She said India recorded 7.8 per cent real GDP growth in the first quarter of FY 2026-27. CPI inflation stood at about 4.8 per cent in August 2026, while the current account deficit was 0.5 per cent of GDP.
Sitharaman Highlights Four Foundations of Economic Resilience
Sitharaman said the government has focused on strengthening household resilience, productive capacity, infrastructure and reforms since 2014.
She highlighted the Jan Dhan-Aadhaar-Mobile system and Direct Benefit Transfer for delivering assistance to beneficiaries.
She also cited PM Awas Yojana, Swachh Bharat, Ujjwala, Ayushman Bharat and PM Garib Kalyan Anna Yojana as measures addressing household vulnerabilities.
The Finance Minister said PM MUDRA has sanctioned more than 52 crore collateral-free loans. She also highlighted PM SVANidhi and banking-sector reforms.
Non-food credit grew 18.8 per cent in the year to August 2026, she said. The Emergency Credit Line Guarantee Scheme also helped businesses manage working capital needs during disruptions.
On infrastructure, Sitharaman said the Centre budgeted Rs 12.22 lakh crore for capital expenditure in FY 2026-27. Effective capital expenditure stands at Rs 17.15 lakh crore, or 4.4 per cent of GDP.
She said national highways have expanded by about 61 per cent since 2014. Operational railway routes have more than doubled, while major port cargo-handling capacity has increased by nearly 60 per cent.
Sitharaman also highlighted reforms including the GST, Insolvency and Bankruptcy Code, Labour Codes and Jan Vishwas measures.
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