Finance Minister Nirmala Sitharaman on Monday said the country has the fiscal space to support sectors impacted by the West Asia war, attributing the comfort to “decade-old fiscal prudence.” The minister also described the evolving economic challenges arising from the escalating conflict as something “moving beyond a regional concern to a systemic risk.” Speaking at an event organised by the National Institute of Public Finance and Policy (NIPFP) here, she said sound public finance management strengthens the counter-cyclical capacity of fiscal policy, enabling governments to “lean against the wind” during downturns.