The Times of India

How Hormuz disruptions, benchmark volatility and refinery economics are testing India's energy resilience and why the government moved to shield every pump in the country

Prime Minister Narendra Modi inaugurated Phase I of the Noida International Airport, a significant addition to India's aviation infrastructure. Developed under a PPP model, this airport aims to enhance regional and international connectivity for the NCR, easing pressure on existing facilities and supporting India's global aviation ambitions.

Petrol and diesel prices remained largely stable across major Indian cities today, despite global crude oil surges due to the US-Iran conflict. The government's excise duty cuts and strategic measures aim to shield consumers from international price volatility and ensure uninterrupted fuel supply.

Traditionally, India has sourced most of its crude from the Middle East, particularly Iraq, Saudi Arabia and the UAE, owing to geographical proximity, established contracts and reliable shipping routes.

An overhaul of the 153-year-old Cattle Trespass Act will decriminalise key offences, replace jail terms with financial penalties and route collected fines to animal welfare. The definition of cattle, so far limited to bovines, is being expanded to include camels, buffaloes, horses, pigs, sheep and goats. Govt has proposed to reduce the jail term for interfering with seized items, such as food and vehicles, under the Food Safety and Standards Act, 2006, from a maximum of six months to three month

For the moment, it has managed to ensure that consumers are fully protected as the oil retailers and govt will split the burden of higher crude prices. For the oil marketing companies (OMCs), which will have to take a hit during the March quarter, the impact will not be significant if the Indian basket remains around the current level of $112 a barrel.

Credit growth outpaced deposit mobilisation through the current financial year, with incremental credit at Rs 25.3 lakh crore exceeding incremental deposits of Rs 24.3 lakh crore. As a result, the incremental credit-deposit ratio stood at 103.9%. Historically, an 80% credit-deposit ratio is seen as healthy as it factors in the 3% of bank deposits that have to be maintained as cash reserves (CRR) and 18% in liquid govt bonds (statutory liquidity ratio)

The sell-off left investors poorer by nearly Rs 9 lakh crore with BSEs market capitalisation now at Rs 422.2 lakh crore, exchange data showed.Foreign funds were again the main sellers of stocks with the net outflow figure at Rs 4,367 crore, BSE data showed. Since the war between the US-Israel and Iran started, the sensex has lost a little over 7,700 points or 9.5% while investors are poorer by about Rs 41.4 lakh crore.

Pankaj Chadha, chairman of engineering exports body EEPC India, said the measure will help steel mills, particularly smaller units, maintain production. Steel is a key segment of the engineering goods sector, and its shortage could severely impact the production chain. The additional LPG allocation should minimise supply bottlenecks and ensure steady output, he added.

Many analysts are forecasting that oil prices will remain above $100 per barrel for several weeks, pushing up the import bill and inflation. Dealers said that pressure on the rupee has been driven more by heavy foreign investor selloffs than by the West Asia conflict, with outflows crossing $13 billion this month, an all-time high.

Finance Minister Nirmala Sitharaman assured that India will maintain fiscal prudence while shielding citizens from rising global crude oil prices. She highlighted India's stable fuel prices compared to other nations, dismissing lockdown rumors as baseless and aimed at creating fear. The government has reduced excise duty on petrol and diesel to protect consumers.

The government has imposed export duties on diesel and turbine fuel to boost domestic availability and energy security, estimating Rs 1,500 crore in revenue. Simultaneously, special excise duties on petrol and diesel were reduced to shield consumers, keeping retail prices stable amid global oil supply concerns.

FTC allows individual taxpayers to claim a credit in India for taxes paid in a foreign jurisdiction on the same income, thereby reducing the tax payable in India.

Apart from crude oil disruptions, the supply of LPG and LNG have also been hit. India imports a big portion of its LPG and LNG needs and has been looking to step up procurement from alternative sources.

Amidst global energy supply concerns due to Middle East conflict, India has boosted commercial LPG allocation to 70% for industries like steel, auto, and textiles. This move aims to support labour-intensive sectors and those with specialized heating needs. The government also assured fuel security, refuting shortage claims and increasing refinery output.

The government has announced a reduction in excise duty on petrol and diesel. While excise duty on petrol has been cut, the levy on diesel has been removed altogether with an aim to cushion consumers from the surge in global crude oil prices.

Gold price prediction today: Gold prices are seeing a steady recovery and Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities recommends a buy on dip strategy.

Amidst the Middle East conflict impacting global oil supplies, India has implemented measures to ensure domestic fuel availability. The government has imposed export duties on diesel and aviation fuel while simultaneously reducing excise duties on petrol and diesel for local consumption, aiming to shield citizens from price hikes.

Stock market crash today: Nifty50 and BSE Sensex dropped in trade on Friday as US-Iran war tensions and crude oil prices continued to weight on sentiment. While Nifty50 went below 22,850, BSE Sensex was down almost 1,700 points.

India has reduced its fuel duty, lowering the special additional excise duty on petrol to Rs 3 per litre and removing it entirely on diesel. This move comes amid global oil supply disruptions and follows a price hike by Nayara Energy. Crude prices retreated as US-Iran negotiations showed progress.

The Trump administration is proposing to feature the President's signature on US dollar bills for the nation's 250th anniversary. Officials cite economic achievements and national pride as reasons. This move, however, faces scrutiny due to historical laws restricting living individuals on currency and a separate plan for a Trump commemorative coin.

Analysts have adjusted targets for several companies, with UBS neutral on Cipla citing supply headwinds despite a healthy pipeline. Motilal Oswal initiated coverage on Bajaj Finserv with a neutral rating, highlighting its strong customer base and predictable earnings. Jefferies is bullish on LG India, anticipating price hikes due to rising costs and a weak rupee.

Stock market recommendations: Granules India, and RBL Bank are the top two stocks that Bajaj Broking Research has recommended for March 27, 2026. Views on Nifty, and Bank Nifty have also been shared:

Iran is experiencing a dual benefit from rising oil prices, with daily revenue increasing significantly in March. Despite ongoing tensions, crude exports remain near pre-war levels, with activity at Kharg Island terminal picking up. Iran has also blocked ships to aggressor nations via the Strait of Hormuz.

Oil prices are soaring past $100 a barrel as the Middle East conflict nears a month, impacting global supply. Brent crude is trading above $107, while WTI is near $94. Goldman Sachs predicts further increases before a gradual decline. Iran's tightening control over the Strait of Hormuz and potential new fees on ships are key factors driving these price hikes.

Deutsche Bank's Indian Global Capability Center is accelerating AI adoption with a startup-style incubator, drawing 100 ideas in its first 100 days. Employees are embracing AI transformation with less resistance than in mature markets, a cultural shift attributed to India's rapid digital progress.