Government formed inter-ministerial group in view of Middle East crisis, Rajnath Singh will chair it

New Delhi, 27 March. The Central Government has constituted an Inter-Ministerial Group under the chairmanship of Defense Minister Rajnath Singh to monitor the challenges faced during the ongoing crisis in the Middle East. Home Minister Amit Shah, Finance Minister Nirmala Sitharaman and Petroleum Minister Hardeep Singh Puri along with other ministers are also members of this committee.

Government’s decision after reducing excise duty on petrol and diesel

According to sources, an inter-ministerial group has been formed to address concerns related to the Middle East conflict. In this sequence, the government has reduced the excise duty on petrol and diesel. The windfall profits tax on diesel exports and the taxes on aviation turbine fuel have also been amended. These measures are aimed at stabilizing fuel prices amid the global energy crisis.

The government has reduced excise duty on petrol to Rs 3 per liter and on diesel to zero to protect consumers from the surge in global crude oil prices due to the ongoing war in West Asia. The ministry said that this reduction in fees has come into effect with immediate effect. Excise duty on petrol has been reduced from Rs 13 per liter to Rs 3 per litre. This duty on diesel has been reduced from earlier Rs 10 to zero.

Center also rejected rumors of lockdown

After reducing the excise duty on petrol and diesel, the government took charge on another issue. Amidst the news of lockdown being imposed in the country, Union Ministers came forward and rejected it outright. First of all, Petroleum Minister Hardeep Puri said that lockdown is not being imposed in the country. Then Finance Minister Nirmala Sitharaman also said that there is no need to panic. There will be no lockdown in India.

In fact, India imports 88 percent of its crude oil needs and almost half of its natural gas needs. Most of these supplies go through the ‘Strait of Hormuz’. Following the American and Israeli attacks on Iran, Tehran has blocked the strait, affecting the movement of tankers.