02-May-2026
Economy News
 
Govt allows contract relief over West Asia conflict
02-May-2026

The Finance Ministry has allowed central government procuring entities to invoke the Force Majeure Clause (FMC) in contracts affected by the ongoing West Asia conflict, treating the situation as “war” for procurement purposes and permitting deadline extensions without penalties. The move is expected to provide relief to contractors and vendors facing supply-chain bottlenecks, shipping delays and project execution hurdles linked to the prolonged geopolitical tensions in West Asia.

News Source:- https://www.financialexpress.com/policy/economy/govt-allows-contract-relief-over-west-asia-conflict/4224752/