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The Parliamentary Standing Committee connected Finance, headed by BJP person Bhartruhari Mahtab, connected Thursday (June 4, 2026) questioned the authorities connected why, contempt making hefty profits, the Oil Marketing Companies person been incapable to sorb the lipid daze owed to the U.S.-Iran stand-off.
The gathering connected Thursday (June 4), which was attended by officials from the Department of Economic Affairs and the Chief Economic Adviser of the government, was the archetypal successful the bid of meetings connected the ‘General Economic Situation successful the Country’.
Both Opposition and ruling enactment members raised concerns astir the interaction of the U.S.-Iran stand-off connected the Indian economy.
According to sources, elder Congress person Manish Tewari, among others, questioned the authorities connected the caller substance terms hike. Ruling enactment MPs P.P. Chaudhary, Sanjay Seth, and Dinesh Sharma were among those who wanted to cognize the inflationary interaction of the existent situation implicit the adjacent quarter.
One subordinate pointed retired that the OMCs, during the past fiscal twelvemonth (FY 2025-26), had registered a nett summation of astir 130%, and adjacent successful the past 4th their gross was 40% higher than successful the corresponding 4th of the erstwhile fiscal year. Opposition members demanded to cognize wherefore the OMCs were incapable to sorb the caller shock. Officials, arsenic per sources, cited planetary statistic to reiterate the government’s presumption that the interaction connected substance prices successful India has been constricted compared to planetary trends. Unsatisfied with the response, the sheet has asked the authorities to travel up with a elaborate answer.
Questions were besides raised connected the dense dependence connected imported earthy materials for fertilizer accumulation by home manufacturers and its interaction connected the economy. The government, arsenic per sources, has assured that determination were capable banal to spot the Rabi play through, and that efforts are connected to procure much for the Kharif season.
The dip successful Foreign Direct Investment and Foreign Portfolio Investment was besides raised, though respective members, according to sources, were not satisfied with the government’s reply. Even ruling enactment members expressed interest implicit retail inflation, particularly the rising outgo of basal nutrient items.
