New Delhi, March 27 -- The government has set up an Inter-Ministerial Group, headed by Defence Minister Rajnath Singh, to monitor issues arising from the Middle East conflict, sources said.

According to the sources, Union Home Minister Amit Shah, Union Finance Minister Nirmala Sitharaman, and Union Petroleum Minister Hardeep Singh Puri are among the members, along with other ministers.

Earlier today, the government slashed excise duties for petrol and diesel, bringing them down to Rs 3 per litre of petrol and zero for a litre of diesel. Windfall tax on export of diesel has been set at 21.5 rupees/litre.

At the same time, the government has revised taxes on Aviation Turbine Fuel (ATF). A new excise duty of Rs 50 per litre has been intro...