Finance Minister Sitharaman Flags Economic Risks from West Asia Crisis, Highlights Rs 1 Lakh Crore Excise Duty Cut Impact
मुख्य बातें
- •Finance Minister Nirmala Sitharaman warned that the West Asia crisis could lead to higher fuel prices, delayed cargo, costlier shipping, input shortages, pressure on working capital, and uncertainty in export orders.
- •She highlighted that the government’s excise duty cut on petrol and diesel will result in a revenue loss of Rs 1 lakh crore in 2026, with cumulative fuel price hikes exceeding Rs 7.50 per litre since May 15.
- •Sitharaman criticized pessimistic narratives around austerity and stressed the need for confidence-building amid global economic uncertainty.
- •She acknowledged the strain on MSMEs and exporters due to the conflict and outlined government measures, including simplified customs procedures, to support affected businesses.
Union Finance Minister Nirmala Sitharaman on Monday, May 25, 2026, underscored the growing economic risks posed by the ongoing West Asia conflict, calling for urgent attention to the “3Fs” — fuel, fertiliser, and forex — as she addressed the 37th Foundation Day event of the Small Industries Development Bank of India (SIDBI) in Mumbai. Speaking at the event, she cautioned that the crisis could lead to higher fuel costs, delayed cargo, increased shipping expenses, input shortages, working capital pressures, and uncertainty in export orders, directly impacting businesses and households.
