Strategic Economic Framework Proposed to Mitigate Oil Shocks

A parliamentary panel has urged the Department of Economic Affairs to develop a strategic energy mitigation framework to protect the economy from oil shocks and encourage long-term stability.

Headed by senior BJP leader Bhartruhari Mahtab, the Standing Committee on Finance emphasized the need for a coordinated national strategy to secure critical minerals for burgeoning sectors such as renewable energy and electric mobility. The committee advocated for accelerating efforts to diversify international supply chains and enhance domestic capabilities.

Further recommendations included improving the FDI framework and encouraging revenue expenditure rationalization to avert fiscal populism, alongside calls for supportive measures in agriculture and secondary education infrastructure to bolster economic resilience and transparency.