New Delhi, June 8 (IANS) Congress President Mallikarjun Kharge on Monday hailed the “united fight” against the Narendra Modi government, leading to the failure of “malicious” bills on delimitation in the Lok Sabha and urged the members of the INDIA bloc to strengthen the spirit and resolve to corner and confront the ruling dispensation on multiple pressing issues before the nation.Kharge, making his opening remarks at the INDIA bloc meet, sought to share a strategic blueprint for rebuilding the …
Latest West Asia crisis News & Updates
New Delhi, June 6 (IANS) Amid the global headwinds, the government has made efforts to ringfence the MSME sector with various EPCLGS schemes, and would slash non-essential expenditures on the revenue side to make fiscal ends meet, rather than reducing capital expenditures, according to economists.On the external front, exports are likely to slow down as global growth takes a hit, says YES BANK ‘Ecologue’.The manufacturing sector, particularly MSMEs, could face a slowdown due to supply-chain …
New Delhi, June 4 (IANS) The government has fixed the basic price of aviation turbine fuel (ATF) for domestic airlines at Rs 86.32 per litre for up to three years under the new price stabilisation scheme aimed at keeping airlines financially viable and passenger tickets affordable amid the surge in international prices due to the Middle East crisis. Under the voluntary scheme, airlines participating in the scheme will pay the fixed free-on-board (FOB) benchmark price as well as airport charges, …
New Delhi, June 3 (IANS) Union Minister for Micro, Small and Medium Enterprises (MSME), Jitan Ram Manjhi, held a high-level meeting with senior officials to review the measures required to protect MSMEs from the adverse fallout of the West Asia crisis, according to an official statement issued on Wednesday. The Minister directed the officials to closely monitor the evolving situation and develop timely and appropriate strategies to effectively address any potential challenges regarding the avail…
New Delhi, June 3 (IANS) The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved one-time budgetary support of Rs 10,000 crore for Oil Marketing Companies (OMCs) to provide ATF price stabilisation support to Scheduled Indian Airlines for their domestic and international operations amid the West Asia crisis.The budgetary support will be in the form of interest-free advances to OMCs through the Demands for Grants of the Ministry of Petroleum and Natural Gas. It will shiel…
New Delhi, June 3 (IANS) Geopolitical tensions and disruptions arising from the ongoing West Asia crisis continue to weigh on the recovery of India’s aviation sector, impacting traffic, capacity deployment and overall industry profitability, a report showed on Wednesday.International passenger traffic of Indian carriers remained under pressure in April 2026 at around 1.8 million passengers, down 39 per cent year-on-year and 1 per cent month-on-month. Revenue Passenger Kilometres (RPKs) declined …
New Delhi, May 31 (IANS) The Central government has revised export levies on petrol, diesel and aviation turbine fuel (ATF) for the fortnight beginning June 1.The duty has been set at Rs 1.5 per litre on petrol exports, Rs 13.5 per litre on diesel exports and Rs 9.5 per litre on ATF exports, as per an official notification. However, the Centre has left excise duty rates on petrol and diesel sold in the domestic market unchanged.According to the notification, the revised rates have been prescribe…
New Delhi, May 29 (IANS) India is diversifying its sources of oil and gas imports to make up for the shortfall in supplies caused by the choking of the Strait of Hormuz amid the West Asia crisis, a senior official said on Friday. “Energy security is very important for us. We are trying to diversify our sources from across the world, and that is our policy at present. We welcome whatever support we can receive from various markets around the world,” said Randhir Jaiswal, the Ministry of External …
New Delhi, May 27 (IANS) Under the direction of the government, the public sector oil companies are currently absorbing losses on the sale of petrol, diesel, and LPG to the tune of Rs 550 crore per day as they have refrained from passing on the full increase in global prices to protect domestic consumers, the Ministry of Petroleum and Natural Gas said on Wednesday.This cushion, which has been put in place due to the disruption caused by the West Asia crisis, is intended for the retail consumers:…
New Delhi, May 27 (IANS) The Rs 77,821 crore combined OMC profit for FY2025-26 is a 3 to 4 per cent net margin on combined turnover in the order of Rs 20 lakh crore, the working margin any healthy commodity refiner at this scale produces, according to the data.The Opposition is pointing to the OMCs’ Rs 77,821 crore combined profit in FY 2025-26 a 130 per cent jump over FY 2024-25, and calling it a windfall during a crisis.The truth is: Roughly half of this profit returns to the Government of Ind…