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    The 16th Finance Commission’s ambitious fiscal roadmap vs the budget’s cautious glide path

    The 16th Finance Commission charts a bolder path to 3.5% fiscal deficit and 47.6% debt-to-GDP by 2030-31 than the Union Budget 2026-27’s more measured steps, yet both signal a shared commitment to long-term fiscal discipline

    Manas Chakravarty
    February 03, 2026 / 11:24 IST
    A path of fiscal deficit that reduces it to 3.5 percent of GDP in the final year.
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