The oil tanks are located near the port of Jawaharlal Nehru.
Photographer: Dhiraj Singh / Bloomberg
Photographer: Dhiraj Singh / Bloomberg
India will look for alternative sources of crude oil to ensure a sustained supply of fuel, said Finance Minister Nirmala Sitharaman.
However, the new supply chains will not have an impact on crude oil prices, she said on Saturday. Federal and state governments will need to discuss the inflationary impact of crude oil growth and its impact on consumers and the economy, Sitharaman said.
A government group is monitoring food inflation to ensure that supply distortions are being addressed due to seasonal changes or changes in crop patterns, the finance minister said.
An increase in Covid-19 infections is worrying for both the government and the private sector, Sitharaman said. India remains in a comfortable position with regard to the supply of vaccines, and the government intends to extend vaccinations to citizens to address concerns about the increase in cases, she said.
As for the economy, Sitharaman said high frequency indicators show that the economy is constantly improving. The government and the Reserve Bank of India are closely monitoring the situation, and the finance minister has said he does not see India facing the risk of a repeat of the columns.
India says fiscal and monetary steps to be in tandem to help growth