The Indian government has formed a high-level inter-ministerial panel to monitor developments arising from the ongoing West Asia crisis. The group will be chaired by Defence Minister Rajnath Singh and includes Home Minister Amit Shah, Finance Minister Nirmala Sitharaman, and Petroleum Minister Hardeep Singh Puri, among others, according to official sources.
The formation of the panel comes amid rising global fuel prices and geopolitical tensions in West Asia. The government aims to closely track international developments that could impact energy security, trade, and domestic economic stability. The panel will coordinate responses across ministries to ensure timely decision-making and minimize potential disruptions.
To ease the burden on domestic consumers, the Centre has reduced the central excise duty on petrol and diesel by Rs 10 per litre. Finance Minister Nirmala Sitharaman announced the move via a post on X, emphasizing that it is designed to provide relief to millions of citizens affected by global supply disruptions.
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In addition to the excise duty cut, the government has imposed export duties of Rs 21.5 per litre on diesel and Rs 29.5 per litre on aviation turbine fuel (ATF) to ensure adequate domestic availability. Parliament has been formally notified of these changes, which aim to balance domestic consumption with international trade obligations.
Welcoming the decision, Home Minister Amit Shah said the measures reflect a “people-centric approach” amid rising international fuel costs. He noted that while many countries are raising fuel prices in response to global market pressures, India’s strategy prioritizes public welfare and affordability.
The high-level panel, with key ministers at the helm, is expected to meet regularly to assess the situation and recommend policy actions. Analysts say the coordinated approach underscores the government’s focus on safeguarding domestic energy supply while managing the broader economic implications of geopolitical volatility in West Asia.
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