The oil tanks are close to the Jawaharlal Nehru Port.
Photographer: Dhiraj Singh / Bloomberg
Photographer: Dhiraj Singh / Bloomberg
India will seek alternative sources of crude oil to ensure a sustained supply of fuel, said Finance Minister Nirmala Sitharaman.
However, new supply chains are unlikely to have an impact on oil prices, she said on Saturday. The federal and state governments will have to discuss the inflationary impact of rising oil and its impact on consumers and the economy, said Sitharaman.
A government panel is monitoring food-related inflation to ensure that supply distortions due to seasonal changes or a change in crop patterns are being addressed, the finance minister said.
An increase in the number of Covid-19 infections is of concern to both the government and the private sector, said Sitharaman. India remains in a comfortable position in the supply of vaccines, and the government is planning to increase vaccines for citizens to address concerns about the increase in cases, she said.
On the economy, Sitharaman said that high-frequency indicators show that the economy is improving steadily. The government and the Central Bank of India are carefully monitoring the situation, and the finance minister said she does not see India facing the risk of a new rabies crisis.
India affirms fiscal and monetary measures to keep up with growth