India Budget 2026-27: Ab se Debt-to-GDP anchor! Kya hai naya plan?

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AuthorKavya Nair|Published at:
India Budget 2026-27: Ab se Debt-to-GDP anchor! Kya hai naya plan?
Overview

Bhai log, Budget 2026-27 mein sarkar ne ek bada move liya hai! Ab fiscal policy ka main focus 'Fiscal Deficit' se hatt kar 'Debt-to-GDP Ratio' par aa gaya hai. Target hai FY27 tak isko **55.6%** tak le aana.

Budget mein bada change! Ab Debt-to-GDP pe focus

Dekho, sarkar ne Budget 2026-27 mein apni strategy thodi badli hai. Pehle fiscal deficit ko kam karne par zyaada zor tha, but ab se Debt-to-GDP ratio ko primary target banaya hai. Iska goal hai FY27 tak is ratio ko 56.1% se kam karke 55.6% par lana. Yeh long-term economic stability ke liye zaroori hai, aur sarkar 2030-31 tak isko 50% ke aas-paas laane ka plan kar rahi hai.

Paisa kahan se aayega aur kahan jayega?

Finance Minister ne 1 February 2026 ko bataya ki government ka borrowing Rs 14.61 lakh crore (FY26 RE) se badhkar FY27 mein ₹17.2 lakh crore hone wala hai. Yeh zyadatar repayment ke liye hai. Iske chalte, bond yields par pressure hai aur 10-year G-Sec yield lagbhag 6.7% ke aas-paas chal raha hai. Market mein thoda reaction dikha, Sensex bhi gira hai.

Sirf borrowing hi nahi, interest ka bojh bhi badh raha hai!

Jab borrowing badhti hai, toh interest payments bhi badhte hain. FY27 ke liye yeh payments ₹14.04 lakh crore ho sakte hain, jo FY26 ke ₹12.76 lakh crore se kaafi zyada hain. Guess karo? Yeh total expenditure ka lagbhag 26% hai, jo planned capital expenditure (₹12.22 lakh crore) se bhi zyada hai! Matlab, paisa kharch karne ke liye growth pe investment ke saath-saath debt manage karna bhi ek bada challenge hai.

Ye shift kyun hua? Global uncertainty ka funda

Sarkar ka kehna hai ki aajkal global market mein kaafi upar-neeche ho raha hai, toh flexibility chahiye. Isiliye Debt-to-GDP ko anchor banana ek smart move hai jo transparency badhata hai. Economic Survey 2025-26 ne bhi kaha tha ki yeh target flexibility dega. Isi uncertainty ki wajah se, sarkar ne agle do saal ke liye rolling targets abhi batane se bacha hai.

Long-term vision kya hai?

FY27 ka 55.6% ka target toh ek step hai. Asli goal hai 2030-31 tak debt-to-GDP ko 50% ke aas-paas lana. Yeh tabhi hoga jab nominal GDP growth steady rahegi. FY27 ke liye 10% nominal GDP growth pakdi hai, jisse total GDP ₹393 lakh crore ho jayega. Yeh sab India ki credit rating improve karne aur borrowing costs kam karne ke liye hai, kyunki international agencies hamesha public debt par nazar rakhti hain.

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