New Delhi, 13 March (H.S.):

Union Finance Minister Nirmala Sitharaman announced Friday the creation of a ₹1 lakh crore Economic Stabilisation Fund to counter global volatility and bolster India's financial resilience.

Replying to Lok Sabha debate on the second batch of Supplementary Demands for Grants for FY 2025-26, she positioned the fund as a vital buffer against shocks like West Asia's crisis.

The fund will equip India to navigate unforeseen global headwinds, with Parliament approving ₹2.81 lakh crore gross additional spending via these demands.Sitharaman assured fiscal deficit stays within Revised Estimates (RE), with total extra cash outlay at ₹2.01 lakh crore including ₹80,000 crore additional receipts. Fertiliser subsidies for farmers remain fully funded—no shortages.

Lamenting opposition's disinterest in government's supply chain/LPG contingency plans, she quipped they prefer sipping tea on stairs pushing their agenda.

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Hindusthan Samachar / Jun Sarkar