Calling such reports baseless, Finance Minister Nirmala Sitharaman said there was no such move under consideration.
Key Points
- Finance Minister Nirmala Sitharaman ruled out any lockdown amid fuel crisis concerns.
- Govt called rumours of lockdown and fuel shortages 'baseless' and 'irresponsible'.
- Petroleum Minister Hardeep Singh Puri also confirmed no such proposal exists.
- Excise duty cuts aim to shield consumers from rising global crude oil prices.
- Govt assured no fuel shortage, citing steps to support oil companies and maintain supply.
Union Finance Minister Nirmala Sitharaman has dismissed reports suggesting that the government could consider a lockdown-like measure amid looming fuel shortages due to the West Asia crisis.
Calling such reports baseless, the finance minister said there was no such move under consideration.
"I want to reassure people that there shall not be any lockdown. I am surprised that some leaders are saying there will be a lockdown and shortages of fuel. These are baseless. Such remarks coming from those in political domains are worrisome. There will be no lockdown such as we saw during COVID," she said.
Earlier, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri also clarified that there will be no lockdown in the country, criticising rumours as 'irresponsible and harmful'.
'Rumours of a lockdown in India are completely false. Let me state this clearly: there is no such proposal under consideration by the Government of India. In such times, it is important that we remain calm, responsible, and united,' Puri said in a post on X.
Govt Moves to Shield Consumers
The finance minister said the primary aim of excise duty cuts on petrol and diesel is to insulate consumers from rising crude oil prices due to the ongoing West Asia conflict.
She said the government is supporting Oil Marketing Companies (OMCs) so that increased global crude prices do not translate into higher retail fuel prices.
"Whenever such a crisis impacts India, the Prime Minister responds quickly to ensure the burden does not fall on the public and there is no shortage of petrol, diesel, or LPG," she said.
She added that an emergency meeting was held on Ram Navami, after which swift decisions were taken jointly by the Finance and Petroleum ministries.
Ensuring Supply, Preventing Shortages
Sitharaman said another key objective of the excise cuts is to ensure OMCs continue procuring fuel despite rising costs, preventing any disruption in supply.
"Prices are increasing abroad, because of which oil marketing companies might stop buying -- such a situation should not occur. They should continue to buy and ensure supply so the public gets fuel at the right time," she said.
The government on Friday reduced excise duty on petrol to Rs 3 per litre and to zero on diesel. The windfall tax on diesel exports has been set at Rs 21.5 per litre.
The move comes amid a global energy crisis triggered by the US-Israel conflict with Iran and Tehran's blockade of the Strait of Hormuz, a key route through which nearly a fifth of the world's oil supply passes.
Before the conflict, India sourced 12–15 per cent of its oil through this route.
