Parliament: Ukraine War Impacting Fuel Price Hike in India, Says FM Sitharaman
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Stating that the war in Ukraine is having an impact on all the countries, Finance Minister Nirmala Sitharaman, during a discussion on Appropriation Bill 2022, and Finance Bill 2022, on Tuesday, 29 March, held responsible the disruption in supplies for the ongoing price hike in fuel.
Later, the Appropriation Bill 2022 and The Finance Bill 2022 were returned by the Rajya Sabha.
Earlier, four Trinamool Congress MPs gave suspension notices in Rajya Sabha to discuss the price rise in the country.
This comes a day after the Opposition on Monday demanded a rollback in prices of fuel and cooking gas, which have seen seven hikes since 22 March, and sought a statement from Prime Minister Narendra Modi in the Parliament.
The Lok Sabha Business Advisory Committee has agreed to hold a discussion on the rise in fuel prices this week, under Rule 193
The second leg of the session is scheduled from 14 March to 8 April
Standing committees evaluated budgetary allocations in the recess after the first leg ended on 11 February
The Finance Bill, 2022 was introduced in the Rajya Sabha by Union Minister Niramala Sitharaman on Monday
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FM Sitharaman Addresses the RS on Appropriation Bill & Finance Bill 2022
During a discussion on Appropriation Bill 2022, and Finance Bill 2022, Finance Minister Nirmala Sitharaman said that now, like the pandemic, there is a "a full-blown war in Ukraine" which she said is "not some war in some corner of the world", but is having an impact on all countries.
Stating that this impact is a disruption to many supplies, she added, "The value chains are all broken, newer markets are emerging, at the same time old markets are all caught up in a situation where nothing is normal."
The finance minister also informed that in the past sevem years and nine months of Prime Minister Narendra Modi's government, till December 2021, the Foreign Direct Investment (FDI) into India has been USD 500.5 billion.
She said that this was about 65 percent higher than the FDI inflows during the "entire 10-year regime of the UPA".
Appropriation Bill 2022, Finance Bill 2022 Returned by RS
The Appropriation Bill 2022 and The Finance Bill 2022 were returned by the Rajya Sabha on Tuesday.
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Lok Sabha Adjourned Till Tomorrow
The Lok Sabha has been adjourned till 11 am on Wednesday.