The Union government has set up an inter-ministerial group headed by Defense Minister Rajnath Singh to monitor the issues arising out of the conflict in the Middle East.
The members include Home Minister Amit Shah, Finance Minister Nirmala Sitharaman and Petroleum Minister Hardeep Singh Puri along with other ministers who are part of the group.
The development comes at a time when India, like much of the world, is reeling from the impact of the ongoing conflict in West Asia.
“There is no shortage of oil in India”
Iran’s blockade of the Strait of Hormuz, a key shipping route for the global oil trade, has led to a sharp rise in oil and gas prices worldwide.
Amid growing concerns, the Ministry of Petroleum and Natural Gas, in an official statement on Thursday, assured that “all retail outlets are operating normally across the country” and that “adequate stocks of petrol and diesel are available at all petrol pumps”. He also urged citizens not to panic-buy amid the rumours.
The government has reduced excise duties on petrol and diesel
The government also reduced excise duty on petrol and diesel on Friday ₹3 per liter of petrol and zero per liter of diesel. The windfall tax on diesel exports has been pegged at Rs 21.5/litre.
As the world grapples with fuel shortages amid the West Asian crisis pushing up prices globally, the Modi government’s decision to cut excise duty on fuel brings much-needed relief to citizens,” Union Home Minister Amit Shah said in a post on X.
“While many countries have hiked diesel and petrol prices, the Modi government’s decision to cut excise duty underlines its people-centric governance and sensitivity-based decision-making. We thank Prime Minister Narendra Modi for this decision,” he added.
Prime Minister Narendra Modi is also scheduled to hold a virtual meeting with chief ministers today to discuss the escalating conflict in West Asia.
Gulf Indians caught in US-Iran war
Indians form the largest expatriate group in the Middle East, particularly in the Gulf Cooperation Council (GCC) countries, where approximately 9 to 10 million Indian citizens live and work.
Since the start of the conflict on February 28, a total of seven Indian nationals have been killed in the UAE, Saudi Arabia and Oman in attacks on Iran-aligned Gulf countries.
Dozens of Indian nationals have also been injured across West Asia as a result of missile and drone attacks launched by Iran and debris from subsequent strikes.
