CHENNAI: The government is worried about the ongoing Russia-Ukraine crisis but more concerned over what’s going to happen to the exporters, particularly farm exports, Finance Minister Nirmala Sitharaman said addressing industrialists, traders, industry experts and other stakeholders at a post-budget conclave organised here.
“As the Russia-Ukraine crisis will have an impact on our imports and exports, we’re rightly worried about what comes from there. But I’m more worried about what will happen to our exporters, particularly the farming sector,’’ said Sitharaman. She noted that the areas of concern include pharmaceutical exports and imports of fertilisers such as urea.
The finance minister further said the government is fairly seized of the matter in its granular form because it is going to have an impact on the essentials such as edible oils which come from Ukraine, sunflower oil and parts of fertilizers, etc.
The minister said the government will do a comprehensive impact assessment on the major exports from India, including payments for the shipments already made. “We are already looking at the emergent situation. But it needs complete assessment done through various ministries concerned and only then will I be in a position to comment on it,” she said.
The union finance minister further said a meeting would be organised in coordination with the Union Ministry of Road Transport and Highways and Railway Ministry to discuss the transport of cement from southern regions to northern parts of the country.
The finance minister’s reaction came in reply to a query made by N Srinivasan, vice-chairman and MD, India Cements, at the event. Srinivasan pointed out that 40 per cent of India’s limestone was available in southern parts of the country and unless the cement moves north, there would be a problem of shortage in the northern region.