The Government supported Oil Marketing Companies with Rs 1.23 lakh crore, including excise duty for the initial 78 days, to insulate consumers from price hike in petrol and diesel because of global prices of crude oil, during the West Asia crisis, sources told Timesnownews.com. The step was to ensure that the people wouldn’t feel the heat of the West Asia war’s impact on prices.
Additionally, the Finance Ministry has provisioned for 1.77 crores in fertiliser in the 2026-2027 budget. However, as the rate is increasing, the fertilisers department demands to double the allocation, added the source. The rate of fertilisers to a farmer is still Rs 300 a bag, whereas it was Rs 3000 for the government, which has now gone up to Rs 4500 per bag due to the West Asia war. Fertiliser suppliers’ pool is narrowing as the prices are going up.
(more to come)
