During the 'Golden Jubilee Celebrations' of the National Institute of Public Finance and Policy (NIPFP), Union Finance Minister Nirmala Sitharaman stated that the West Asia conflict has transformed from a regional issue to a 'systemic tremor', indicating a shift towards permanent volatility in global markets. She highlighted India's fiscal discipline over the past decade, which has provided the country with the capacity to implement fiscal and monetary support during economic downturns, unlike many nations grappling with high debt and deficits. India's general government debt-to-GDP ratio stands at approximately 81%, the lowest among major economies after Germany, with projections indicating a decline to 75.8% by 2030. Additionally, India's foreign exchange reserves exceed $688 billion, providing a robust buffer for imports. Sitharaman emphasized the importance of a fair and efficient revenue system, noting that revenue mobilization involves simplifying tax administration and enhancing compliance. She addressed concerns over the Tax Deducted at Source (TDS) system, clarifying that it aims to track high-value transactions without burdening taxpayers.