Finance Ministry looking at ways to cut govt debt: Sitharaman

Union Finance Minister Nirmala Sitharaman said on Friday that her Ministry is looking at ways to reduce the overall level of government debt so that future generations do not have to bear the burden.

“We are conscious of the debt of the Government of India today. Compared to many other countries it might not be as high. But even there, we are consciously looking at experiments in different parts of the world,” the finance minister said while addressing the Kautilya Economic Conclave.

“We are looking at ways in which we can bring down the overall debt. And I’m sure going to be very successful in that because I’m very much in line to meet India’s aspirational requirements, but deal with it with a sense of responsibility so that the coming generations don’t feel the burden, that government has left debt on them,” she explained.

The Finance Minister also said that there was a global consensus on putting in place a system for cryptocurrency regulation.

She highliighted India’s role in bringing this issue to the forefront during the G20 meeting.

“Crypto was the issue that we’re able to bring in G20 meeting under India presidency and brought all the countries on consensus. All G20 countries agreed on a template and they will bring the regulation based on that template,” Sitharaman added.