Govt proposes to lower debt-to-GDP ratio to 55.6 pc in FY27: Sitharaman

The government has proposed to lower debt-to-GDP ratio to 55.6 per cent in FY27, from 56.1 per cent in the current fiscal year, Finance Minister Nirmala Sitharaman said on Sunday. Presenting the Union Budget 2026-27, she said the Centre has allocated Rs 5,000 crore for CITY Economic Regions (CERs) over five years. She also said the government has accepted the recommendations of the 16th Finance Commission, retaining a 41 per cent tax devolution formula. A scheme for development of the Buddhist circuit in the Northeast to preserve temples, monasteries will also be launched, the finance minister noted. She also proposed to support Artificial Limbs Manufacturing Corporation of India to scale up production of assisted devises for divyangjan.