'No lockdown, no fuel crisis': Amit Shah says India holding steady despite global crisis

Union Home Minister Amit Shah on Saturday ruled out any disruption to normal life amid global energy market volatility, saying there was "no question of a lockdown" and that fuel supplies remained stable across the country.

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Speaking to India Today TV during a roadshow in Guwahati ahead of the Assam Assembly elections, Shah sought to calm concerns triggered by the Iran conflict and its impact on global oil prices. 

“There is no question of a lockdown. The situation is normal," the home minister said. "There is a crisis all over the world. We all have to face our own problems. But under the direction of PM Narendra Modi, the Indian government has made a very good arrangement. There is no problem of petrol, diesel or cooking gas anywhere. And everything is going smoothly."

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He said the government had ensured continuity of supply while shielding consumers from global price shocks. "We are ensuring uninterrupted supply while maintaining business as usual in the country," he said.

Shah added that India had managed to hold retail fuel prices steady even as prices surged globally. "When retail prices across the globe are increasing, India is the only country where there is no increase in petrol and diesel prices."

Citing international comparisons, he said several countries had taken emergency measures in response to rising fuel costs. "The situation is severe in several countries -- a national emergency has been declared in the Philippines, fuel supply has been restricted to no more than 8 litres in Sri Lanka, work-from-home has been implemented in Thailand, flights have been reduced in Vietnam, and in Pakistan, the workweek has been reduced to only four days."

He also listed fuel price increases across regions, saying petroleum product prices had risen by about 50 per cent in Vietnam, 17-20 per cent in Pakistan, 20-30 per cent in Europe, 7-13 per cent in the UK, 18 per cent in Australia, 17-34 per cent in the US, 19 per cent in Cambodia, and 40-48 per cent in Nigeria.

India, he said, had absorbed the financial impact through policy measures. "I believe there is no other country in the world that has taken the entire burden of the crisis upon itself," Shah said, referring to the government’s decision to cut excise duty on fuel.

The government reduced excise duty on petrol by ₹3 per litre and fully exempted diesel from duty, a move aimed at preventing price increases despite a nearly 50 per cent rise in international oil prices over the past month.

Shah said structural changes over the past decade had strengthened India's energy resilience. He pointed to expanded oil reserves and diversification of imports, noting that India now sources crude from 42 countries, up from 27 in 2014.

(With inputs from PTI)