The Union Government has set up an Inter-Ministerial Group, headed by Defence Minister Rajnath Singh, to monitor issues arising from the Middle East conflict.
Home Minister Amit Shah, Finance Minister Nirmala Sitharaman, and Petroleum Minister Hardeep Singh Puri are among the members, along with other ministers, who are part of the group.
The development comes as India, like much of the world, is reeling from the impact of the ongoing conflict in West Asia.
'No shortage of petroleum in India'
The Iranian blockade of the Strait of Hormuz, a key shipment route for the global oil trade, has resulted in a spike in petroleum and gas prices around the world.
Amid growing concerns, the Ministry of Petroleum and Natural Gas, in an official statement on Thursday, assured that "all retail outlets are operating normally across the country" and that there are "adequate stocks of petrol and diesel available at all petrol pumps." It also urged citizens not to engage in panic buying amid circulating rumours.
Govt slashes excise duties for petrol, diesel
On Friday, the government also slashed excise duties for petrol and diesel, bringing them down to ₹3 per litre of petrol and zero for a litre of diesel. Windfall tax on export of diesel has been set at 21.5 rupees/litre.
As the world is reeling under fuel shortages amid the West Asia crisis, driving up prices globally, the Modi government's decision to cut excise duty on fuel brings much-needed relief to citizens," Union Home Minister Amit Shah said in a post on X.
"While many nations have hiked diesel and petrol prices, Modi government's decision to reduce excise duty underscores its people-centric governance and sensitivity-led decision-making. Kudos to PM Narendra Modi for this decision," he added.
Prime Minister Narendra Modi is also scheduled to hold a virtual meeting with Chief Ministers later today to discuss the escalating conflict in West Asia.
Indians in Gulf caught in US-Iran war
Indians make up the largest expatriate group in the Middle East, in particular the Gulf Cooperation Council (GCC) countries, where around 9 to 10 million Indian citizens live and work.
A total of seven Indian nationals have been killed across the UAE, Saudi Arabia and Oman in Iran-linked attacks on Gulf countries since the conflict began on February 28.
Dozens of Indian nationals have also sustained injuries across West Asia due to missile and drone strikes launched by Iran and debris from subsequent interceptions
