Raw material shortage likely in 2 months, says FM Sitharaman

Raw material shortage likely in 2 months, says FM Sitharaman

On the possible impact of coronavirus scare on the industry and the economy, the finance minister said there is none as of now.

AgenciesUpdated: Friday, February 28, 2020, 07:10 AM IST
article-image
Union Finance Minister Nirmala Sitharaman addresses a press conference on Union Budget 2020-21, in Guwahati, Thursday, Feb. 27, 2020. Assam Finance Minister Himanta Biswa Sarma is also seen. | PTI

Union Finance Minister Nirmala Sitharaman said that investor sentiment has not been dampened by anti-CAA protests and the recent Delhi violence.

On the possible impact of coronavirus scare on the industry and the economy, the finance minister said there is none as of now.

"However, if the situation doesn't improve in the next two months, there may be shortage of raw material. We are working on how to address the issue and help the industry," she added.

"You see a lot of concerted efforts both by the government and the Reserve Bank of India as a result I can see the mood is also gradually changing, there is every positive sign," Sitharaman said on the slowdown in the economy, adding, inflationary pressures were coming down, and greenshoots were visible in the economy, at a time when the economy has been facing conflicting pressures from high inflation and low growth.

RECENT STORIES

India’s Food Delivery Platform Sector Emerges As Major Economic Engine, Generates ₹1.2 Lakh...

India’s Food Delivery Platform Sector Emerges As Major Economic Engine, Generates ₹1.2 Lakh...

India–Oman CEPA Unlocks Zero-Duty Access For Over 99% Of Indian Exports, Boosts Trade, Services...

India–Oman CEPA Unlocks Zero-Duty Access For Over 99% Of Indian Exports, Boosts Trade, Services...

Sonaselection India Files Draft Papers For ₹80 Crore IPO To Fund Expansion & Debt Repayment

Sonaselection India Files Draft Papers For ₹80 Crore IPO To Fund Expansion & Debt Repayment

Sensex, Nifty End Flat After Volatile Session, IT Stock Gains Fail To Offset Losses In Other Sectors

Sensex, Nifty End Flat After Volatile Session, IT Stock Gains Fail To Offset Losses In Other Sectors

Nissan Plans India Expansion, Launches Gravite MPV, Aims For Three New Models By 2027

Nissan Plans India Expansion, Launches Gravite MPV, Aims For Three New Models By 2027