New Delhi [India], March 23 (ANI): Prime Minister Narendra Modi will address the Lok Sabha at 2 PM today amid the ongoing budget session of Parliament, outlining key aspects of the ongoing West Asia conflict and India's position on the matter.

Prime Minister's Office, the Cabinet Secretary gave a detailed presentation on the global situation and the mitigating measures taken so far and being planned regarding the conflict by all concerned Ministries/Departments of the Government of India.

The expected impact and measures taken to address it across sectors like agriculture, fertilisers, food security, petroleum, power, MSMEs, exporters, shipping, trade, finance, supply chains and all affected sectors were discussed. The overall macro-economic scenario in the country and further measures to be taken were also discussed.

The ongoing conflict in West Asia will have significant short, medium and long term impact on the global economy and its effect on India was assessed, and counter-measures, both immediate and long-term, were discussed.

A detailed assessment of availability for critical needs of the common man, including food, energy and fuel security, was made. Short term, medium-term and long-term measures to ensure the continued availability of essential needs were discussed in detail.

The impact on farmers and their requirement for fertiliser for the Kharif season was assessed. The measures taken in the last few years to maintain adequate stocks of fertilisers will ensure timely availability and food security. Alternate sources of fertilisers were also discussed to ensure continued availability in the future.

It was also determined that an adequate supply of coal stocks at all power plants will ensure no shortage of electricity in India.

Several measures were discussed to diversify sources of imports required by chemicals, pharmaceuticals, petrochemicals and other industrial sectors. Similarly, new export destinations to promote Indian goods will be developed in the near future.

PM said that the conflict is an evolving situation and the entire world is affected in some form. In such a situation, all efforts must be made to safeguard the citizens from the impact of this conflict. PM instructed that all arms of government should work together to ensure the least inconvenience to the citizens.

PM Modi also asked for proper coordination with state governments to ensure no black-marketing and hoarding of important commodities. (ANI)