A sustainable debt-to-GSDP ratio of 23% has been suggested for Tamil Nadu, against about 27% now. The 2017 FRBM Committee led by N.K. Singh set 20% as the prudent limit for States; three extra points are allowed for Tamil Nadu given its macroeconomic progress. The ratio jumped from 22.78% in 2019-20 to 28.67% in 2020-21 and has stayed between 26% and 28%. Only Gujarat, Odisha and Maharashtra are below 20%. With 15% nominal growth and a 3% fiscal deficit, 23% is reachable around 2050-51; with a 2.5% deficit and 14% growth, by 2033-34.