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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Power bank catches fire inside stationary IndiGo plane at Chandigarh airport; all evacuated
New Delhi (PTI): The power bank of a passenger onboard a stationary IndiGo aircraft caught fire at the Chandigarh airport on Tuesday, and all passengers and the crew were evacuated, according to a source.
In a statement, the airline said that when IndiGo flight 6E 108 from Hyderabad to Chandigarh was stationary after landing, an incident involving a customer's personal electronic equipment catching fire was reported.
"In the interest of safety, an immediate evacuation was carried out, and all the relevant authorities were immediately informed. All customers have been safely moved to the terminal and are being attended to by the team to ensure their well-being," the statement said.
The source said that soon after the aircraft landed, there was smoke coming from one of the overhead bins and all onboard were evacuated.
The smoke was due to the power bank catching fire, the source said, adding that no one sustained major injuries.
Details about the number of passengers could not be ascertained.
