Current year more challenging amid West Asia crisis concerns: FM Sitharaman

Finance Minister Nirmala Sitharaman on Monday said that India faces both external and internal challenges as it works toward the goal of a “Viksit Bharat,” noting that factors such as the monsoon remain key domestic concerns.

She said the current year is likely to be more challenging due to the escalating conflict in the West Asia, which has heightened regional security concerns.

Addressing an event at the National Institute of Public Finance and Policy (NIPFP), Sitharaman described the West Asia conflict as having evolved into a “systemic tremor” that threatens vital arteries of global energy.

She also highlighted that the world economy is witnessing volatility, uncertainty, complexity, and ambiguity, adding that global public debt has surged.