India, Feb. 1 -- Finance Minister Nirmala Sitharaman on Sunday said the government aims to reduce the debt-to-GDP ratio to 55.6% in FY27, down from 56.1% in the current fiscal, signalling a continued focus on fiscal consolidation.
Presenting the Union Budget 2026–27, she also announced an allocation of Rs 5,000 crore over five years for the development of City Economic Regions (CERs) to promote urban-led economic growth and infrastructure expansion.
Additionally, the government has accepted the recommendations of the 16th Finance Commission, retaining the 41% tax devolution formula for sharing central taxes with states.
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