Live Updates > Live Update Details
2026-05-25 15:55:03
[Indian Finance Minister Calls for Focus on Fuel, Fertilizer and Foreign Exchange; Modi's Call for Saving Foreign Exchange "Very Important"] (1) Indian Finance Minister Nirmala Sitharaman said on Monday that focus should be placed on fuel, fertilizer and foreign exchange, and stressed that Prime Minister Modi's call for saving foreign exchange during the Gulf crisis is "very important." (2) Modi called on the public this month to save fuel and foreign exchange, avoid buying gold and take other austerity measures to cope with energy shocks and economic headwinds. Sitharaman pointed out that the focus on fuel, fertilizer and foreign exchange should be viewed in this context. (3) Sitharaman said that high prices of crude oil, fertilizer and gold pose external challenges. As the world's third-largest oil importer, India raised gasoline and diesel prices again on Monday, the fourth such adjustment since May, in an effort to make up for losses. Due to the reduction in fuel consumption tax, government revenue is expected to decrease by 1 trillion rupees in fiscal year 2027.
