Congress MP corners govt over Iran war, ‘How much would be the burden of war on India’s economy?'

Congress MP Manish Tewari launched a sharp attack on the government in Parliament, warning of a looming economic crisis triggered by the West Asia conflict and rising energy prices. Citing the International Energy Agency, Tewari described the closure of the Strait of Hormuz as potentially the biggest oil shock of the 20th and 21st centuries. He highlighted alarming trends in India’s economy, including surging crude oil prices, rising debt levels, and weakening GDP growth. Tewari questioned whether the government is borrowing heavily just to service existing debt, pointing to a massive rise in liabilities over the past decade. He also flagged concerns over declining tax buoyancy, falling private investment, and negative foreign direct investment flows.