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War-Risk Premiums Boost India’s Oil Bill, Farmers Strain, Tax Plan

6/15/2026

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Summary

Story summary

Finance Minister Nirmala Sitharaman said on June 15 that rising war-risk insurance premiums and higher shipping costs are raising India’s oil import bill beyond crude-price effects.
She warned that volatile foreign-exchange rates, crude-oil price swings, rising fertilizer costs and a weak monsoon could strain farmer incomes.
She announced a withholding-tax regime to attract bond-market capital and said food-grain buffer stocks are adequate and Kharif fertilizer supplies are sufficient for November delivery.

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Story summary

Finance Minister Nirmala Sitharaman said on June 15 that rising war-risk insurance premiums and higher shipping costs are raising India’s oil import bill beyond crude-price effects.
She warned that volatile foreign-exchange rates, crude-oil price swings, rising fertilizer costs and a weak monsoon could strain farmer incomes.
She announced a withholding-tax regime to attract bond-market capital and said food-grain buffer stocks are adequate and Kharif fertilizer supplies are sufficient for November delivery.