Crude Oil51 min ago
Nirmala Sitharaman says economy to remain strong despite fuel, forex, fertiliser challenge
Written By ZeeBiz WebTeam
Published: | Updated:
Noting that the government's focus remains on maintaining economic stability, the finance minister said that the economy will remain strong going forward. She also said there is a need to further simplify customs duty.
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Finance Minister Nirmala Sitharaman has said that the country remains focused on economic stability despite global turmoil. | File photo
Finance Minister Nirmala Sitharaman said on Monday that fuel, forex and fertilisers are a major challenge for the economy now. The reduction in excise duty may lead to a possible loss of around Rs 1 lakh crore for the government, she said.
The finance minister was addressing SIDBI's Foundation Day programme in Mumbai.
Noting that oil costs have risen due to the ongoing crisis in West Asia, the Union minister said that the central government's priority continues to be to protect citizens' interests.
The focus is on maintaining economic stability, said the finance minister, expressing confidence that the domestic economy will stay strong.
She said there is a need to further simplify the customs duty.
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