India, May 25 -- India is keeping a close watch on the economic impact of the ongoing West Asia conflict as rising crude oil prices and fertiliser costs continue to put pressure on the country's finances. Union Finance Minister Nirmala Sitharaman on Monday said the government is actively monitoring the situation, especially the effect on fuel prices, fertiliser imports and foreign exchange reserves.

Speaking during the 37th foundation day event of Small Industries Development Bank of India, Sitharaman stressed that India's economic fundamentals remain strong despite increasing global uncertainty. She said the government has taken a balanced policy approach to protect growth while handling external economic shocks.

Government Closely Wat...