Sitharaman signals covid-style relief to counter West Asia crisis
Sitharaman signals covid-style relief to counter West Asia crisis
Finance Minister Nirmala Sitharaman announced on Saturday that the government is considering policy support similar to the pandemic-era emergency credit schemes to help businesses struggling with supply disruptions and rising costs fueled by the West Asia conflict.
The government is discussing credit guarantees for sectors hit by raw material shortages and soaring insurance risks, News.Az reports, citing Times of India.
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Energy and fertilizer supplies will be prioritized to shield farmers and consumers from global price spikes, even if it creates fiscal pressure.
India will continue to buy crude oil from any source that offers the best price and timely delivery to ensure national energy security.
Sitharaman urged Indian corporations to stop relying on imports and instead view domestic manufacturing as a massive business opportunity.
Requests to change capital gains and securities transaction taxes remain under review, with the minister stating she is "neither saying yes nor no" at this stage.
By Leyla Şirinova
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