Finance Minister Sitharaman has great confidence that inflation tension will end amid war in the Middle East, gave this update on oil prices – ..

News India Live, Digital Desk: The conflict between Iran and Israel in the Middle East (West Asia) has set global crude oil prices on fire. In such a situation, amid fears of rising inflation in the Indian market, Finance Minister Nirmala Sitharaman has assured the country in the Lok Sabha. He clearly said that despite the rise in international oil prices, it is not expected to have a ‘major impact’ on inflation in India.

Crude oil surge, but why is India safe?

Responding to a written question in the Lok Sabha on Monday (March 9, 2026), the Finance Minister said that by the end of February, the price of Indian basket crude oil was $ 69.01 per barrel, which has increased to $ 80.16 per barrel in the beginning of March. He argued that since India’s current retail inflation rate is at its lowest level, this temporary surge in oil prices will not derail the country’s economy.

In words of data: Inflation situation

The Finance Minister presented some important figures in the House, which show the strength of the Indian economy:

Decline in retail inflation: Consumer Price Index (CPI) based inflation rate in 2023-24 5.4% was, it will reduce in 2024-25 4.6% And till January 2026 2.75% Has come down to the lowest level.

RBI’s Security Circle: According to RBI standards, if oil prices increase by 10%, its impact on inflation will be negligible. 0.30% (30 basis points) It is estimated to fall only till.

Relief will be provided by the government’s ‘master stroke’

The Finance Minister said that the government is not only dependent on global prices, but several administrative steps have also been taken to stop inflation:

buffer stock: Strong buffer stock of essential food items like pulses and onions has been kept ready.

Tax exemption: annual ₹12 lakh The people’s ‘disposable income’ (spendable money in hand) has been increased by exempting people with income up to Rs.

Cut interest rates: Policy rates from February 2025 till now 125 basis points has been reduced, due to which loans have become cheaper.