The Finance Ministry said India's macroeconomic position in May 2026 reflects cautious resilience, adding that strong services exports, adequate foreign exchange reserves and a stable labour market provide a firm foundation
Circular does not mention the West Asia crisis, but it comes a little more than a week after Prime Minister Narendra Modi exhorted the nation to adopt similar austerity measures.
There has been no change in the existing excise duty rates for petrol and diesel for domestic consumption