India, May 26 -- Hours after the hike in fuel prices, Union Finance Minister Nirmala Sitharaman on Monday stressed the need to focus on three Fs - fuel, fertiliser and forex - amid the West Asia crisis, which she said is not merely a geopolitical issue but would affect common people and businesses due to rising energy costs.

She admitted that the rising crude oil and fertiliser prices due to the US-Iran war have become a major concern for the country's economy.

"We should appreciate that the challenges are more externally driven. We must also recognise that India's domestic economic situation remains positive and resilient even today," the finance minister said.

She acknowledged that it is a challenge for the small business units to pl...