<span style="color: #222222;">Finance Minister Nirmala Sitharaman informed the Lok Sabha that the government has taken several supply-side measures to curb the inflationary pressures. Replying to a starred question, she said that the Centre has reduced Central Excise Duty on Petrol and Diesel by five and ten rupees respectively to which the many State Governments have responded by reducing the value-added tax to further sober Petrol and Diesel prices.<br />''<br />''She also said, India has also agreed to release five million barrels of crude oil from its strategic petroleum reserves, in parallel and in consultation with other major global energy consumers.<br />''<br />''Similarly, Finance Minister listed several measures including a Five-Year Memorandum of Understanding with Myanmar, Malawi and Mozambique for annual import of 2.5 Lakh Metric Tonnes of Urad and 3.5 lakh Metric Tonnes of Tur. She also informed a National Mision on Edible Oils – Oil Palm also been approved to encourage domestic production and availability of Palm oil.</span><br />