Rajnath Singh chairs second meeting of the IGoM
NATIONAL: The second meeting of the Informal Group of Ministers (IGoM) took place at New Delhi Thursday chaired by Defence Minister Rajnath Singh in New Delhi focusing on the developments in West Asia and their possible impacts on India. Key ministers attended, including Finance Minister and External Affairs Minister.
The need for continuous monitoring of the uncertain situation and a calibrated response to mitigate adverse effects on the Indian populace was emphasised.
During the session, the IGoM received updates from seven Empowered Groups of Secretaries regarding government actions, especially measures by the Ministry of Finance to counter global trade disruptions. These measures included:
- A full customs duty exemption on 40 critical petrochemical products until June 30, 2026.
- A special relief measure for eligible SEZs to sell goods in the Domestic Tariff Area at concessional rates from April 01, 2026, to March 31, 2027.
- A clarification that GAAR provisions will not affect investments made prior to April 01, 2017.
These initiatives are aimed at reducing cost pressures on numerous sectors and enhancing investor confidence in India. Rajnath Singh commended the implementation of a 25% cap on monthly increases in Aviation Turbine Fuel prices for domestic operations, initiated on April 01, 2026, to prevent sudden fare hikes.
The government to attach importance to domestic LPG supply, addressing temporary shortages due to hoarding and panic buying. Strict actions, including raids on distributors engaging in malpractices, were communicated. To assist low-consumption households and migrant laborers, the availability of 5 kg Free Trade LPG cylinders was ensured with over 4.3 lakh sold since March 23, 2026 particularly in high-demand states. The meeting underscored the commitment to meeting industrial LPG needs as well.