Each opposition and ruling get together members expressed concern concerning the influence of the battle between the US and Iran on India’s economic system. File |Picture Credit score: The Hindu
The Parliamentary Standing Committee on Finance, chaired by BJP chief Bultulhari Mahtab, on Thursday (June 4, 2026) questioned the federal government on why oil advertising and marketing firms haven’t been capable of take in the oil shock because of the US-Iran battle regardless of incomes big earnings.
Thursday’s (June 4) assembly was attended by Ministry of Financial system officers and the federal government’s chief financial advisor and was the primary in a collection of conferences on the “common financial scenario within the nation.”
Each opposition and ruling get together members expressed concern concerning the influence of the battle between the US and Iran on India’s economic system.
Senior Congress chief Manish Tewari has questioned the federal government over the current hike in gas costs, sources stated. Ruling get together MPs PP Chaudhary, Sanjay Seth and Dinesh Sharma had been among the many MPs who needed to know the influence of the present disaster on inflation within the subsequent quarter.
A member identified that OMC had recorded practically 130 per cent development in earnings previously monetary yr (FY 2025-26) and even within the final quarter, the income had elevated by 40 per cent in comparison with the corresponding quarter of the earlier monetary yr. Opposition members demanded to know why the OMC was unable to soak up the current shock. Citing worldwide statistics, officers reiterated the federal government’s place that the influence on India’s gas costs will likely be restricted in comparison with international tendencies, the folks stated. Dissatisfied with this response, the committee requested the federal government for an in depth response.
Questions additionally arose about home producers’ heavy dependence on imported uncooked supplies for fertilizer manufacturing and its influence on the economic system. Based on sources, the federal government assured that it has sufficient shares to substantiate this. rabbi He stated efforts proceed to supply extra elements all through the season. kharif season.
The drop in overseas direct funding and abroad portfolio funding was additionally introduced up, however a number of committee members weren’t happy with the federal government’s response, based on sources. Ruling get together members additionally expressed concern about retail inflation, particularly rising costs of fundamental meals objects.
