Govt Eyes Fresh Relief for MSMEs Amid West Asia Crisis, Fuel Tax Cuts Already Implemented

• Government may announce additional relief measures for vulnerable segments, including MSME sector, if West Asia crisis persists.
• Centre already reduced excise duty on petrol and diesel; open to further interventions to manage inflationary pressures.
• Global crude oil prices surged nearly 50% since February 28 due to West Asia conflict, impacting India's import costs.
• Government introduced RELIEF scheme (Rs 497 crore) and restored RoDTEP benefits to support exporters facing disruptions.
• Shipping disruptions around Strait of Hormuz increase logistics costs and create uncertainty for export consignments.