India's Finance Minister Defends Austerity Call, Cites Middle East Crisis Impact on Economy

GateNews
According to Bloomberg, on May 25, India's Finance Minister Nirmala Sitharaman defended the government's austerity initiative, attributing economic pressure to Middle East tensions. Speaking at an event in Mumbai, Sitharaman stated that the regional crisis could increase fuel costs, cause cargo delays, raise transport expenses, create supply shortages, strain working capital, and introduce export order uncertainties for businesses and citizens.
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