India looking for other sources of crude supply, says Nirmala Sitharaman

India will look for alternative sources of crude oil to ensure sustained supply of the fuel, Finance Minister Nirmala Sitharaman said. New supply chains won’t likely have an impact on crude prices though, she said on Saturday.

The Central and state governments will have to discuss about the inflationary impact of rising crude and its impact on consumers and the economy, Sitharaman said.

A government panel is monitoring food-related inflation to ensure that supply distortions due to seasonal changes or a change in crop patterns are being addressed, the finance minister said.