Tag: uncertain situation

New Delhi: The Indian Defence Minister, Raj Nath Singh, has taken a review of the Informal Group of Ministers (IGoM), set up to monitor the evolving situation in West Asia amid the escalating war between Iran, Israel and the United States of America. With this review, the Government of India would be able to take proactive measures to minimise its impact on India. During the review, the IGoM deliberated at length on recent developments and the next steps to be taken by the Government to mitigate any adverse impact arising from the ongoing conflict. In view of the “uncertain situation,” the Indian Defence Minister stressed the importance of round-the-clock monitoring and the need to respond in a calibrated manner to deal with any eventuality. He emphasized leaving no stone unturned to ensure that the country's people face minimal impact from the conflict. During the meeting, the seven Empowered Groups of Secretaries briefed the IGoM on the steps being taken to address the situation. The IGoM was apprised of measures undertaken by the Ministry of Finance to address concerns arising from global trade disruptions, provide relief and support to industry—especially manufacturing—and bolster investor confidence. These include a notification dated April 1, 2026, granting full customs duty exemption for 40 critical petrochemical products until June 30, 2026.Announcement of a special one-time relief measure for eligible units in SEZs to sell manufactured goods in the Domestic Tariff Area (DTA) at concessional customs duty rates, effective from April 1, 2026, to March 31, 2027. A notification dated March 31, 2026, issued by the Department of Revenue clarifies that the provisions of GAAR will not be invoked for investments made before April 1, 2017. These measures will reduce cost pressures on downstream sectors, including textiles, packaging, and pharmaceuticals; facilitate supply stability; and provide clarity for investors considering investments in India. Rajnath Singh appreciated the Government’s decision to impose a 25% cap on the monthly increase in Aviation Turbine Fuel prices for domestic operations, effective from April 1, 2026. This step, he said, will help protect the public from sudden increases in airfares. The Government has accorded the highest priority to domestic LPG supply, with refinery production enhanced to meet consumption requirements in the country. The IGoM was informed that there have been no reports of stock outs at LPG distributorships, and deliveries of domestic LPG cylinders continue as per the normal schedule. Temporary supply concerns arose due to instances of hoarding and black marketing, which triggered panic buying in certain areas. Ministers were informed that strict enforcement action is being undertaken, including raids across multiple States and Union Territories to curb hoarding and black marketing of LPG. Action has also been taken against LPG distributors engaged in malpractices. To support migrant labour and low-consumption households, the Government is ensuring adequate availability of 5 kg Free Trade LPG cylinders. Since March 23, 2026, over 4.3 lakh such cylinders have been sold, with special focus on States where demand is higher. The IGoM was apprised that industrial requirements dependent on commercial LPG are being met, with over 80% of pre-crisis supply levels maintained to ensure continuity of operations. Special meetings have been held with ministries and industry stakeholders to assess demand and address requirements. Oil PSUs are ensuring continued supply of Auto LPG across the country. However, private operators are facing some supply constraints due to procurement challenges, resulting in queues at PSU auto LPG outlets. Where vehicles are dual-fuel and can use petrol, users are being encouraged to switch temporarily. Ministers were also informed that the number of LPG deliveries per day has been significantly increased to meet the surge in demand caused by panic buying, ensuring there is no shortage for consumers. Piped Natural Gas (PNG) is being actively promoted for industrial use as a reliable alternative wherever feasible, with supplies being maintained in sectors already using PNG to ensure operational continuity. The IGoM was further apprised that certain miscreants are attempting to create panic by circulating doctored images and misleading content on social media. Such activities are being closely monitored. The citizens have been strongly advised not to believe or share unverified information and to rely only on official sources for accurate updates. The first meeting of the IGoM was held on March 28, 2026, during which the Indian Defence Minister had directed officials to closely monitor the situation, adopt a medium- to long-term preparedness approach, maintain high-level coordination, and ensure swift decision-making.

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