&imwidth=800&imheight=600&format=webp&quality=medium "Nirmala Sitharaman flags ‘3Fs’ as key challenge after PM Modi’s austerity appeal amid West Asia crisis")
After Prime Minister Narendra Modi’s appeal for austerity amid continuing supply constraints linked to the West Asia conflict, Union Finance Minister Nirmala Sitharaman on Monday (May 25) said rising and volatile global prices of fuel, fertiliser and gold were posing major external challenges for India, even as the country’s domestic economic indicators remained strong.
Addressing the 37th SIDBI Foundation Day programme, Sitharaman identified what she described as the “three Fs”, fuel, fertiliser and foreign exchange, as the biggest areas of concern for the Indian economy amid the ongoing geopolitical tensions.
The finance minister said India was facing simultaneous pressure from rising prices of crude oil, fertilisers and gold, all of which require payments in foreign exchange.
“High international crude prices and very fluctuating ones. High international fertiliser prices. Considerable increase in the fertiliser prices, high gold prices that are creating some challenges on the external front,” she said. “To just put it in context, all these three payments will have to be in foreign exchange. There is no rupee trading there. We should please understand the context of these three Fs.”
Linking the uncertainty directly to the conflict in West Asia, Sitharaman said the Centre’s priority was to protect citizens, support MSMEs and ensure uninterrupted supply chains despite global volatility.
Trending Stories
&im=FitAndFill=(700,400))
How fast can the Sukhoi Su-30 fighter jet really fly?
)
Did China ask its people 'not to respond to aliens'? Origin of bizarre claim on social media
)
MS Dhoni-CSK Fallout? Report claims failed stake sale talks triggered rift
)
Scientists reveal the SAFEST COUNTRY when catastrophe strikes the planet
)
Serial killer on the loose in South Korea's Jeju Island? Fourth body found in three days as more than a dozen people go missing
)
2/3rd of glacier detached, collapsed: ISRO satellite images reveal what triggered Nepal floods
)
Trump once again claims without him there would be ‘no Israel right now’
)
Foreign espionage attacks against German companies surge to 37%, Bitkom report reveals
)
Blake Lively wins partial legal fee from Justin Baldoni after $8M request
)
Why is Pakistan deploying Turkish Bayraktar TB2 drones near India border?
)
'OH MY GOD! We've found other agents!': Investigators discover not one or two, almost 700 OpenAI AI agents went rogue, hacked Hugging Face
)
Lunar eclipse 2026: India timings, places to see and more. August Blood moon factsheet
)
RSS chief Mohan Bhagwat on global outreach tour
)
Both pilots killed as training aircraft crashes in Lucknow – What we know
)
16-year-old charged with preparing terror attack on kindergarten in Norway
&im=FitAndFill=(700,400))
How the S-400 protects itself from enemy attacks
)
Nepal floods: Over 165 dead, 400 missing; US, India, China, World Bank mobilise aid
)
India's multi-layered watch: The new surveillance war
)
5 doomsday planes spotted in US skies hours after CIA director's secret trip to Russia
)
9/11 mastermind Khalid Sheikh Mohammed to finally face trial in 2028, nearly 27 years after horrific attacks
)
Islamabad hospital fire: What we know about one of the biggest facility that housed Imran Khan
)
Workers run for life while filming Nepal flash flood: Scary new visuals emerge from Rasuwa
)
Russian military planes enter South Korean air defence zone amid rising tensions with North Korea: What's happening
)
Ron Weasley Is Back! Rupert Grint set to return to Harry Potter universe on Broadway
)
400-year-old 'vampire' grave in Poland reveals non-existent genetic lineage
)
Dolly Parton, global icon and queen of country music, dies at 80
)
Nepal flash floods: Kailash Mansarovar yatra affected, close to 400 pilgrims out of contact
)
'If he is dead, they're putting on a pretty good show': Trump casts fresh doubt over Mojtaba Khamenei's fate
)
Man arrested near US Capitol with guillotine in pickup truck: What happened?
&im=FitAndFill=(700,400))
Why the Su-30MKI cockpit is painted bright turquoise green
“It is because of high international crude prices,” Sitharaman said, referring to the Prime Minister’s appeal to conserve foreign exchange. “And the high crude prices are ever changing, the situation remains seriously dynamic.”
Sitharaman says economy remains resilient
Despite global headwinds, Sitharaman asserted that India’s economy continued to remain stable and resilient. She also criticised what she termed “naysayers” for attempting to create fear around the economic situation despite positive developments across sectors.
“We must also recognise that India's domestic economic situation remains positive and resilient even today,” Sitharaman said.
Highlighting key indicators, she pointed to rising GST collections, vehicle sales and insurance premiums as signs of economic strength.
“Gross GST collections crossed ₹22 lakh crore for the year 2025-26, rising 8.3%,” she said. “Domestic wholesale tractor sales rose by 26%. Passenger vehicle domestic sales grew by 25%.”
On the government’s response to global inflationary pressures, Sitharaman said the Centre had reduced excise duty on petrol and diesel by Rs 10 per litre to shield consumers and businesses from surging crude oil prices. She added that the decision resulted in a revenue impact of more than Rs 1 lakh crore for the government.
The finance minister also highlighted support measures for MSMEs, stating that the Emergency Credit Liquidity Guarantee Scheme 5.0 aims to provide an additional Rs 2.55 lakh crore in credit with full government guarantee coverage for the sector.
