Centre Absorbed ₹43 Diesel Price Hike to Protect Farmers and Consumers: PM Modi
The Centre absorbed a major portion of the potential diesel price increase to protect farmers and consumers from rising global crude oil prices during the West Asia crisis, Prime Minister Narendra Modi said on Friday.
NEW DELHI: The Centre absorbed a major portion of the potential diesel price increase to protect farmers and consumers from rising global crude oil prices during the West Asia crisis, Prime Minister Narendra Modi said on Friday.
Addressing the plenary session of the Kisan Tak Bharat Agriculture Conference 2026, organised by the India Today Group at Bharat Mandapam in New Delhi, Modi said international crude oil prices had surged from $70 to $122 per barrel during the crisis.
He said the situation could have resulted in a diesel price increase of nearly ₹50 per litre in India. However, the government decided to pass on only ₹7 of the increase to consumers while absorbing the remaining ₹43.
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The Centre is bearing an additional financial burden of approximately ₹14,000 crore every month to shield farmers and consumers from rising fuel costs, he added. Modi also pointed out that diesel prices in neighbouring countries had increased by 40–50 per cent.
Highlighting fertiliser subsidies, the Prime Minister said the government had spent ₹16 lakh crore over the past 12 years to provide affordable fertilisers to farmers. A 50-kg bag of DAP, costing around ₹5,000 internationally, is being supplied to Indian farmers for ₹1,300, while a urea bag worth ₹3,000 is available for less than ₹300.
The announcement assumes significance against the backdrop of the 2022 Russia-Ukraine conflict, when disruptions in global energy and fertiliser markets pushed up agricultural input costs. The latest measures aim to prevent similar international price shocks from affecting farmers’ production expenses and household budgets.
