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New Delhi, India, March 27: The Centre has constituted a high-level Inter-Ministerial Group (IMG) to monitor and respond to challenges emerging from the escalating conflict in West Asia. The panel will be chaired by Defence Minister Rajnath Singh, according to government sources.
Members of the group include Union Home Minister Amit Shah, Union Finance Minister Nirmala Sitharaman, and Union Petroleum Minister Hardeep Singh Puri, along with several other senior ministers.
The IMG will assess the economic, security and energy-related implications of the ongoing Middle East conflict and recommend coordinated responses.Earlier in the day, the government announced a significant revision of fuel taxes to stabilise domestic prices amid global volatility.
Excise duty on petrol has been reduced to ₹3 per litre, while the duty on diesel has been brought down to zero. The windfall tax on diesel exports has been set at ₹21.5 per litre.
A new special additional excise duty of ₹50 per litre has been introduced on Aviation Turbine Fuel (ATF). However, exemptions will bring the effective levy down to ₹29.5 per litre for eligible segments, offering relief to the aviation industry. Additional adjustments to fuel-related taxes have also been implemented to maintain market stability.
These measures come at a time when global energy supplies are under strain following the US–Israel war with Iran and Tehran’s blockade of the Strait of Hormuz — a corridor through which nearly one-fifth of global crude and gas shipments (20–25 million barrels per day) transit. Prior to the conflict, India sourced 12–15 per cent of its crude imports via this route.
Amid speculation on fuel shortages, the Ministry of Petroleum and Natural Gas said in an official statement that petrol and diesel stocks remain adequate nationwide and urged citizens to avoid panic buying triggered by unverified rumours.
On the security front, the conflict in West Asia remains tense despite peace overtures by Donald Trump. The Israel Defense Forces on Saturday confirmed strikes on what it described as the Iranian regime’s key missile and naval ordnance production centre in Yazd. According to the IDF, the facility was used to design, assemble and store advanced missiles intended for deployment from cruise platforms, submarines and helicopters.
“In the strikes carried out across Tehran, the Air Force targeted infrastructure and weapon-production sites, with particular focus on ballistic missile development,” the IDF stated.
The newly formed IMG is expected to convene regularly as the situation evolves, with the government prioritising energy security and strategic preparedness amid the unfolding crisis.
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