Home > News > India > FM allays fears on short-term price rise on coronavirus-led supply issue
Sitharaman said on Wednesday secretaries will meet again to chart out a course of action which will be finalized after consulting the PMO (Photo: Pradeep Gaur/Mint)
Sitharaman said on Wednesday secretaries will meet again to chart out a course of action which will be finalized after consulting the PMO (Photo: Pradeep Gaur/Mint)

FM allays fears on short-term price rise on coronavirus-led supply issue

  • Govt to soon announce measures to deal with coronavirus impact on industry, said Nirmala Sitharaman
  • She was addressing media after meeting representatives of the industry to review the situation following the outbreak of the deadly virus in China

New Delhi: The government went on an overdrive on Tuesday with finance minister Nirmala Sitharaman meeting a cross section of sectors to assess the impact of coronavirus outbreak.

Senior officials from commerce, customs, representatives from banking, insurance, auto, paper, electronics, petroleum, chemical, energy, solar, renewable energy, power, pharma sectors and leaders from FICCI, CII, ASSOCHAM attended the meeting.

Sitharaman said on Wednesday secretaries will meet again to chart out a course of action which will be finalized after consulting the prime minister's office.

"There are no concerns about price rise so far due to coronavirus," she said, adding it is too early to talk about the impact of Covid-19 outbreak on the Make in India initiative.

Finance minister said sectors like pharmaceuticals, chemicals and solar equipment are increasingly experiencing disruption.

Sitharaman said manufacturing sectors said though supplies of raw materials are still coming from China, necessary paperwork is lacking.

MSME sectors pointed out that receipt of payments is taking time and requested banks to be flexible about guarantees.

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