Government Prepares to Announce Special Relief Package Amidst Conflict; Poor Families and Specific Groups Set to Reap Major Benefits..

Should the ongoing conflict in West Asia become protracted, the government may introduce additional relief packages for the vulnerable sections of the economy, particularly the Micro, Small, and Medium Enterprises (MSME) sector. According to sources cited by the news agency *Bhasha*, the government has already implemented several measures—such as reducing excise duties on petrol and diesel—and will not hesitate to undertake further relief measures if the need arises.

The government has reduced the excise duty on petrol by three rupees per liter and has exempted diesel from this levy, aiming to mitigate the impact of rising global crude oil prices on the common people. Concurrently, to boost domestic availability, duties have been reimposed on the export of diesel and Aviation Turbine Fuel (ATF).

Global crude oil prices have surged by nearly 50 percent following attacks on Iran by the United States and Israel, and the subsequent retaliatory actions by Iran. Earlier this month, crude oil prices touched a high of $119 per barrel, though they have since moderated to approximately $100 per barrel. Prior to this, the government had granted certain concessions to exporters to assist them in fulfilling their export commitments.

The business community has faced mounting difficulties since the onset of the West Asia crisis. Chief Economic Advisor V. Anantha Nageswaran stated that, given the current circumstances, the government needs to provide immediate relief to the most severely affected businesses and households, while simultaneously building up resources to meet future requirements. In the monthly economic review released on Saturday, Nageswaran observed that, in light of the crisis, there is a need to re-prioritize expenditure and provide targeted relief to the affected business sectors and households.

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