Finance Minister Nirmala Sitharaman said on Sunday that India has set a target of bringing its borrowing down to 50% of gross domestic product by 2030, as the government continues the fiscal consolidation path it took up after the COVID-19 pandemic. Speaking to members of the Indian diaspora in Chicago, Sitharaman also said that the government had completed the “last mile” of its fiscal deficit trajectory in 2025-26 and that further consolidation would not come at the cost of social welfare spending.