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On Friday (27th March 2026), Union Minister for Petroleum and Natural Gas Hardeep Singh Puri said there is NO plan to impose a lockdown in India, which was previously implemented during the pandemic period. The Minister Hardeep Singh Puri said the rumours of lockdown are "completely false" and misl
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No, Union Minister Hardeep Singh Puri stated there are absolutely no plans to impose a lockdown in India, and rumors suggesting otherwise are completely false and misleading.
Global fuel prices have surged sharply due to a significant increase in crude oil prices, which rose from $70 to $122 per barrel in one month.
The Indian government is absorbing substantial financial losses to prevent the full impact of rising global fuel costs from reaching citizens. This includes reducing excise duties on petrol and diesel and imposing export taxes on fuel.
Oil companies in India were facing estimated losses of around Rs 24 per litre on petrol and Rs 30 per litre on diesel due to the price surge.
The government reduced excise duties by Rs 3 per litre on petrol and Rs 0 on diesel for domestic consumption. To balance this, export taxes were added: Rs 21.5 per litre on diesel exports and Rs 29.5 per litre on ATF exports.
CAclubindia
