No need for knee jerk reaction due to high crude oil prices: Jaitley
New Delhi, Sep 5 : Finance Minister Arun Jaitley on Wednesday said that there was no need for a "knee jerk" reaction due to high prices of global crude oil.
"There is no straight-line movement of global crude oil prices," Jaitley said at a media briefing after the meeting of the Union Cabinet.
According to Jaitley, crude oil prices edged higher in April and May whereas they calmed down in June and July
"As I am saying these are not situations which merit knee-jerk and panic reaction. There is no straight-line movement in global oil prices," the minister said.
When asked about the country's preparations to deal with any upsurge in global crude oil prices, Jaitley at a press briefing here said: "Policy formulation is never a rigid process."
Recently, geo-political factors such as trade wars fears, upcoming Iran sanctions and conflicts in Middle East along with supply side constraints have led to a sharp increase in global crude oil prices.
The rise in global crude oil prices pushes the domestic cost of petrol and diesel higher as the country is a net importer of crude oil.
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Three more arrested in connection with murder of Suhas Shetty in Mangaluru
Mangaluru (Karnataka), May 14 (PTI): The Mangaluru City Crime Branch has arrested three men in connection with the murder of Hindutva activist Suhas Shetty, officials said on Wednesday.
The accused, identified as Azaruddin alias Azar alias Ajju (29), Abdul Khader alias Noufal (24) and Vamanjoor Noushad alias Chotte Noushad (39), were arrested during the last two days, they said.
With the fresh arrests, a total of 11 people have been arrested in connection with the murder so far, police said.
According to a police statement, Azaruddin had previously been booked in three theft cases registered at Panambur, Suratkal, and Mulki police stations. He allegedly provided information about Shetty's movements to the other accused, aiding in the murder.
Khader is said to have assisted the accused during their escape in a car after the murder was committed.
Noushad is accused of having conspired with the others and directly participated in the crime. He has six previous criminal cases, including murder, attempted murder, and robbery conspiracy, registered at various police stations in Dakshina Kannada, police said.
Azaruddin has been remanded in judicial custody, while Khader and Noushad have been taken into police custody for seven days for further investigation.
Police said the investigation is ongoing and efforts are underway to trace other accused involved in the case.
Shetty, a known rowdy sheeter and Hindutva activist, was murdered by a group on May 1 within the Bajpe police station limits in Mangaluru City.
