Government reviews fuel, economy and supply preparedness; assures no immediate disruption despite global uncertainty
Prime Minister Narendra Modi will chair a high-level meeting of the Cabinet Committee on Security (CCS) at 7 pm in New Delhi on Wednesday, as tensions in West Asia continue to impact global markets and supply chains. This marks the second such meeting within 10 days, underlining the seriousness of the evolving situation.
Government officials have reassured citizens that India currently has sufficient crude oil reserves to meet domestic demand for the next two months. Refineries are operating at peak capacity even as global crude prices have surged past $100 per barrel in recent weeks. Despite this volatility, fuel prices in the country have remained unchanged, with measures such as excise duty cuts helping shield consumers.
The earlier CCS meeting on March 22 involved a comprehensive review of the potential short-, medium-, and long-term impact of the conflict on the global economy and India’s preparedness. Key sectors including food security, energy, fertilisers, trade, and supply chains were assessed.
Meanwhile, the government has dismissed rumours of any impending lockdown, urging citizens to remain calm and avoid misinformation as authorities continue to monitor the situation closely
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