India will continue to buy oil where it suits national interest, Says FM Sitharaman
New Delhi: Union Finance Minister Nirmala Sitharaman on Friday made it clear that India will continue sourcing crude oil from wherever it suits the country’s needs — including Russia — stressing that such decisions will always be guided by national interest.
In an interview to a television channel, the Finance Minister said, “Whether it is Russian oil or anything else, India will take a call based on what works best for us in terms of pricing and logistics.” She reiterated that crude oil remains the single largest component of India’s import bill.
GST and Consumption Boost
On the Goods and Services Tax (GST), Sitharaman said the revamped structure is designed to spur consumption without affecting capital expenditure. “Ninety-nine percent of goods and services now fall within the zero, five, or 18 percent slabs,” she pointed out.
For the first time, she said, both the issue of Compensation Cess and a comprehensive proposal on GST have been addressed by the Centre. However, petroleum and alcohol will remain outside the GST ambit.
Support for Exporters
Acknowledging the pressure on exporters due to the steep 50 percent US tariffs, Sitharaman said the government is preparing a special support package. She emphasized that India will safeguard its trade interests while enabling exporters to remain competitive in global markets.
Atmanirbhar Bharat Beyond Production
Highlighting the broader vision of Atmanirbhar Bharat, the Finance Minister underlined that the initiative is not just about producing goods domestically, but also about maintaining self-respect and resilience amid unpredictable global trade policies.
