Union Finance Minister Nirmala Sitharaman on Monday strongly defended India’s economic performance, asserting that the country remains a “robust economy” despite global uncertainties and criticism from what she described as “naysayers” spreading fear and negativity.
Speaking in Mumbai, Sitharaman said India’s domestic economic condition continues to remain stable and resilient, while cautioning against narratives that undermine public confidence.
“India’s domestic economic situation remains positive and resilient even today,” the Finance Minister said.
Targeting critics who question the country’s economic growth story, Sitharaman remarked that a section of people was quick to dismiss India’s achievements and create unnecessary panic.
“There is a section of Indians who very quickly want to cry down the achievements of our own people. A pessimistic, cynical narrative is generated, which is just not right,” she said.
Calling such messaging “fear-mongering,” the minister stressed that confidence and optimism were essential for economic growth and investment sentiment.
“India cannot afford fear-mongering; we need to give confidence to our people with our words and actions. India continues as a robust economy,” Sitharaman stated.
Her remarks come at a time when debates over inflation, employment, crude oil prices and global economic slowdown continue to dominate political and financial discussions.
In another major statement, Sitharaman revealed that the Centre would bear a revenue impact exceeding Rs 1 lakh crore in 2026 due to reductions in central excise duty on petrol and diesel aimed at protecting citizens from surging global crude oil prices.
“The government is estimated to take a revenue impact of over Rs one lakh crore in 2026 after the central excise duty cut on petrol and diesel,” she said.
The Finance Minister added that the Centre had reduced excise duty by Rs 10 per litre to shield consumers from sharp fuel price hikes in international markets.
“To shield citizens from a steep rise in global crude prices, the central excise duty on petrol and diesel was reduced by Rs 10 per litre,” Sitharaman said.
