Finance Minister Nirmala Sitharaman says budget in place, no lockdown
Business
With global oil prices shooting up, Finance Minister Nirmala Sitharaman told Parliament the government is keeping a close eye on India's finances and won't let things get out of hand.
She reassured everyone there's no lockdown coming because of the West Asia conflict and urged political leaders to avoid spreading rumors and fear.
the budget for the fiscal year beginning April 1, 2026 (FY 2026-27) is now in place.
Duty cuts keep fuel prices steady
Even though crude oil has jumped from $70 to $122 a barrel, fuel prices at home haven't budged.
The government slashed petrol excise duty by ₹10 per liter and scrapped diesel duty completely, costing about ₹7,000 crore in revenue, to shield people from rising costs.