Escalation of West Asia conflict, upward pressure on fertiliser subsidy requirement, sharp rise in LPG under recoveries and tepid corporate tax collections and dividend receipts: India is suddenly caught in a vortex of uncertainties which do not augur well for a smooth ride on the path of achieving fiscal targets set out in Budget 2026. There are now serious concerns over the fallout of a more extended US-Iran war on Government finances. Extended hostilities beyond one month make inevitable two
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