India, March 27 -- The Indian government on Friday slashed excise duties on petrol and diesel, confirmed adequate crude oil stocks, and firmly dismissed viral lockdown rumours - even as the country grapples with a weeks-long LPG shortage triggered by the blockade of the Strait of Hormuz amid the ongoing U.S.-Iran war. Finance Minister Nirmala Sitharaman called reports of an impending lockdown "baseless," while the Ministry of Petroleum confirmed that commercial LPG supply has been restored to 70 percent capacity following earlier disruptions.

Is India Going Under Fuel Shortage? What the Government Said

Social media in India has been flooded with lockdown anxiety, with users searching for keywords including "India lockdown again" and "lo...