Nirmala Sitharaman Urges Focus on ‘Three Fs’ Amid Global Crisis

Union Finance Minister Nirmala Sitharaman has stressed the need to focus on “Three Fs” — Fuel, Fertilizer and Forex — amid growing challenges arising from the West Asia crisis. Speaking at SIDBI Foundation Day celebrations in Mumbai, she said the government is carefully monitoring rising global prices of fuel, fertilizers and gold, all of which require payments in US dollars. Sitharaman explained that the Centre reduced excise duty on petrol and diesel to ease the burden on citizens and ensure that domestic economic growth remains unaffected, despite a revenue loss of nearly ₹1 lakh crore.

The Finance Minister criticised attempts to spread pessimism about the Indian economy following Prime Minister Narendra Modi’s appeal for savings and prudent spending. She stated that some groups were misrepresenting precautionary economic measures as signs of economic collapse, which she described as irresponsible. Sitharaman reiterated that external global factors were behind the current challenges and assured that the Indian economy remains stable despite international uncertainties.