Parliament Watch: Panel flags oil shock risks, CPSE crisis; govt updates on US tariffs, repo, Panama leaks

New Delhi: A parliamentary panel on Tuesday called on the Department of Economic Affairs (DEA) to put in place a strategic energy mitigation framework to protect the economy from oil shocks once prices breach the $90-per-barrel threshold and ensure long-term stability.

The suggestion by the Parliamentary Standing Committee on Finance assumes importance in view of the Brent crude oil prices exceeding $100 per barrel in the past few days due to the war in West Asia, having surged by about 40% in March.

The panel, headed by senior BJP leader Bhartruhari Mahtab, also suggested a coordinated national strategy and accelerated efforts to shore up the supply of critical minerals and rare earth elements, highlighting the rapidly evolving global competition for them.


These commodities are essential for semiconductors, renewable energy systems, electric mobility, defence technologies, and the development of alternative fuels, it added.

Also read: No severe shocks despite crises, says Sitharaman as she highlights India's economic strength

House panel warns of leadership crisis in CPSEs

The Parliamentary Standing Committee on Finance has flagged a “deep-rooted managerial crisis” in Central Public Sector Enterprises (CPSEs) and urged the government to overhaul leadership appointments, noting that 53 CPSEs are functioning without full-time chairmen and managing directors (CMDs).

The panel also called for a review of the dividend policy for CPSEs to allow them greater flexibility in retaining earnings. It said rigid payout expectations could constrain investments in research and development (R&D) and capacity expansion, jeopardising long-term growth and competitiveness.

In its report on the Demands for Grants, the committee highlighted a ‘triple crisis’ across CPSEs—leadership vacancies, funding constraints and gaps in state capability—warning that these structural weaknesses are undermining governance and strategic decision-making.

‘India in talks with US on tariff issues’

The Centre is studying recent developments and remains engaged with the US on tariff-related issues, Minister of State for Commerce and Industry Jitin Prasada said in a written reply to the Lok Sabha.

Responding to a question on whether the US imposition of ‘high tariffs’ violates WTO and other UN-ratified agreements on trade and tariffs, and on the retaliatory steps taken by India, Prasada said India has initiated action under the WTO safeguard provisions.

Also read: Govt gets Parliament nod for Rs 2.01 lakh crore additional spending in FY26

Repo rate cuts largely transmitted

Minister of state for finance Pankaj Chaudhary informed the RS that the transmission of the recent repo rate cuts (125 bps during Feb 2025- Dec 2025) to lending rates on fresh and outstanding loans has been broad-based.

Panama Leaks: Undisclosed assets at Rs 14,636 crore

The Centre on Tuesday informed parliament that the government has assessed total undisclosed foreign income and assets, amounting to Rs 14636 crore for cases identified under Panama, Paradise and Pandora Paper leaks, as on January 31.

Jan Vishwas Bill withdrawn, to be reintroduced

The government on Tuesday withdrew The Jan Vishwas (Amendment of Provisions) Bill, 2025 from the Lok Sabha.

The Bill, which seeks to amend certain laws to decriminalise and rationalise offences in order to promote trust-based governance, will be reintroduced after incorporating the recommendations of the Lok Sabha Select Committee.

Commerce and Industry Minister Piyush Goyal withdrew the Bill, as reported by the Select Committee, after seeking the permission of the House.