FM hits out at critics for peddling pessimism

NEW DELHI, 25 MAY

Union Finance Minister Nirmala Sitharaman on Monday criticised “naysayers” who claim India’s economy is “crumbling” amid Iran war.

She said a cynical and pessimistic narrative was being created, with critics forgetting the “good being done by common people”, especially after Prime Minister Narendra Modi’s austerity appeals. She warned that India cannot afford fear-mongering and stressed the need to instil confidence through words and actions.

cuts on petrol and diesel to shield consumers from inflation triggered by the West Asia conflict. She defended price hikes, saying earlier steps prevented Rs 10 increase at a time.

“The increases now are coming from oil marketing companies (OMCs) because they are the ones procuring (raw material crude oil) and selling (finished product – fuel),” Sitharaman said on the sidelines of the Cotton Textiles Export Promotion Council export awards event.

‘Govt lost Rs 1 lakh cr’

On fuel pricing, Sitharaman said the government had foregone over Rs 1 lakh crore annually through excise duty.

When asked if the RBI’s dividend of Rs 2.87 lakh crore aligned with the government’s expectations, especially given the current need for support, the minister stated that the calculations follow a clear formulation.

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