New Delhi: Nirmala Sitharaman on Monday defended Prime Minister Narendra Modi’s call for austerity and expenditure control, stressing the need to focus on the “3Fs” — fuel, fertiliser and forex reserves — amid the ongoing West Asia crisis.
Speaking at the 37th Foundation Day event of Small Industries Development Bank of India (SIDBI), Sitharaman also targeted critics who, she said, had attempted to create a pessimistic narrative following the Prime Minister’s appeal for restraint in spending.
The finance minister said India could not afford fearmongering at this stage and emphasised that the current challenges had emerged due to external global developments rather than weaknesses within the domestic economy.
She underlined that India’s economy continues to remain stable and resilient despite international uncertainty and geopolitical tensions.
