Supply risks under: Sitharaman

ANI

Bengaluru 

Union Finance Minister Nirmala Sitharaman said India faces risks from rising crude oil prices, West Asia tensions and potential disruptions in the Strait of Hormuz, but the Narendra Modi government is ensuring there is no supply disruption for households and the economy.

Speaking at the Viksit Bharat event in Bengaluru, Sitharaman highlighted challenges such as higher shipping costs, limited vessel availability and rising insurance premiums linked to geopolitical tensions in the Middle East. Despite these pressures, the government remains focused on maintaining the flow of essential supplies and protecting consumers. The minister also rejected concerns about India's economic outlook, citing the country's status as the world's fastest-growing major economy.  

Improvements in welfare and poverty reduction, stating that 25 crore people have moved out of multidimensional poverty. UPI now processes 2,100 crore transactions every month.  She cited growth in GST registrations, e-Shram enrolments and welfare schemes, saying development and social welfare continue to progress alongside infrastructure expansion despite global uncertainties.