PM Modi Urges Fuel and Gold Conservation Amid Global Energy Crisis
Indian Prime Minister Narendra Modi appealed to citizens to conserve fuel, avoid non-essential gold purchases, and limit foreign travel for one year to protect foreign exchange reserves. This call for "economic self-defence" responds to soaring oil prices and supply disruptions caused by the ongoing US-Iran conflict and Strait of Horm blockade. While the government aims to stabilize the rupee and reduce import dependency, the opposition criticizes the move as shifting economic burdens onto the public. State oil firms face mounting losses, raising speculation about imminent fuel price hikes despite current subsidies.
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Telangana BJP Accuses Congress of Distorting PM Modi's Appeal
The Telangana Bharatiya Janata Party (BJP) has strongly criticized the Congress party for allegedly distorting Prime Minister Narendra Modi’s recent appeal to citizens. The Prime Minister had urged the public to reduce gold purchases, promote domestic tourism, and adopt energy conservation measures in the national interest. During a press conference in Hyderabad, Telangana BJP President N. Ramchander Rao described Congress's reaction as unfortunate and labeled it a malicious propaganda campaign aimed at misleading the public. Rao highlighted that despite global economic strains and rising fuel prices due to the West Asia crisis, the Indian government has maintained relative stability compared to other nations. He defended the Prime Minister's suggestions, such as using solar pumps and electric vehicles, as beneficial initiatives under the 'Vocal for Local' campaign. Rao also questioned the political lens applied by Congress leaders, including Chief Minister A. Revanth Reddy. Notably, the BJP faced embarrassment when a newspaper clipping displayed by Rao, purportedly showing former Prime Minister Indira Gandhi supporting similar views, was exposed as fake. The incident underscores the intensifying political rivalry between the two parties in Telangana.
News Today: Breaking News, Top Headlines & Live Updates | The HinduIndia Considers Fuel Price Hike and Import Curbs to Protect Forex Reserves
India is reportedly evaluating a series of emergency economic measures, including potential fuel price hikes and restrictions on non-essential imports, to safeguard its foreign exchange reserves amid soaring oil prices. According to Bloomberg, these considerations stem from ongoing tensions in the Middle East, specifically the conflict involving Iran, which has significantly increased India's oil import bill. As one of the world's largest oil importers, India faces intensifying dollar outflows, causing the rupee to drop 5.6% against the dollar this year, making it the worst-performing major Asian currency. Top officials from the Prime Minister’s Office and the Finance Ministry are discussing these steps with the Reserve Bank of India. Proposed measures include curbing imports of gold and consumer electronics, limiting non-essential overseas spending, and raising fuel prices for the first time since the conflict began. Additionally, the government has announced reforms to reduce royalty rates for domestic oil and gas producers to boost local energy output. While Prime Minister Narendra Modi has previously urged citizens to adopt fuel-saving practices, no final decision on these emergency measures has been made yet.
RT - Daily newsPM Modi's Appeal for Gold Restraint: A Potential Inflection Point for India's Economy
Indian Prime Minister Narendra Modi has urged citizens to postpone non-essential gold purchases, particularly for weddings, for at least one year to conserve foreign exchange. This voluntary appeal aims to address a widening trade deficit driven by record gold imports nearing $72 billion in FY 2025-26 and rising oil prices due to West Asian tensions. Although India’s forex reserves remain robust at over $690 billion, the government seeks to prioritize national interest through 'Atmanirbhar Bharat' discipline. The article contrasts this approach with the coercive Gold Control Act of 1968, which failed and fueled a black economy. Unlike past measures, Modi’s request relies on patriotism and modern financial alternatives like Sovereign Gold Bonds, Gold ETFs, and digital gold. While jewelry stocks dropped following the announcement, the success of this initiative depends on shifting deep-seated cultural preferences for physical gold. The strategy emphasizes education and framing restraint as a contribution to rupee stability and job creation rather than mere sacrifice, marking a potential shift in India’s economic behavior amidst global financial pressures.
The Indian ExpressIndia to Assess Sustainability of Fuel Retailer Losses Amid Global Price Surge
Indian Oil Minister Hardeep Singh Puri stated that the government must evaluate how long state-run fuel retailers can sustain losses from selling transport fuels below market prices. This assessment comes as global petrol and diesel spot prices reach multi-year highs due to supply disruptions from Middle East conflicts. While governments in major economies have capped pump prices to protect consumers from inflation, Indian officials warn that compensating oil marketing companies for these losses is fiscally unsustainable. Currently, retailers incur losses of approximately 100 rupees per litre on diesel and 20 rupees on petrol. Major state-owned entities like Indian Oil Corporation, Hindustan Petroleum, and Bharat Petroleum have not raised prices since April 2022. Officials indicated that any future price increases would be calibrated to discourage consumption without sharply stoking inflation. Additionally, Prime Minister Narendra Modi has urged fuel conservation measures to ease pressure on foreign exchange reserves, as the country's balance of payments deficit is projected to widen significantly to between $66 billion and $70 billion in the 2026-27 fiscal year.
Economic TimesIndia's Oil Minister Warns Government Must Address Mounting Losses of State Oil Firms
Indian Petroleum Minister Hardeep Singh Puri stated that the government must eventually decide how long public sector Oil Marketing Companies (OMCs) can sustain losses by selling fuel below market rates. Speaking at the CII Annual Business Summit in New Delhi, Puri highlighted that the global energy crisis, exacerbated by the West Asia war and the closure of the Strait of Hormuz, is causing severe financial strain. OMCs, including Indian Oil, Bharat Petroleum, and Hindustan Petroleum, are projected to incur combined losses of Rs 1 lakh crore in the April-June quarter, potentially wiping out the previous year's profits. Despite these challenges, Puri assured citizens of adequate fuel stocks, with 60 days of petrol and diesel reserves available, and dismissed rumors of impending fuel rationing. He clarified that Prime Minister Narendra Modi’s recent appeal for fuel conservation aims to reduce fiscal strain rather than restrict consumption. With no current plans for government compensation to offset these losses, speculation is growing regarding potential fuel price hikes after prices remained static for over four years.
The Indian ExpressIndia Signals Potential Petrol and Diesel Price Hike Amid Global Oil Crisis
Indian Petroleum Minister Hardeep Singh Puri has indicated that petrol and diesel prices may increase in the near future, despite remaining stable for the past four years. This statement follows Prime Minister Narendra Modi’s recent appeals for citizens to conserve fuel due to the deepening oil crisis triggered by conflicts in the Middle East, particularly involving the US and Iran. While emphasizing that there is no current shortage of fuel, Puri revealed that India holds crude oil and LNG reserves sufficient for 60 days and LPG stocks for 45 days. The government has also ramped up LPG production to mitigate global supply impacts. Reports suggest that public-sector oil companies are incurring massive monthly losses of approximately ₹30,000 crore by selling fuel at older rates, potentially driving a price revision before May 15. Puri explicitly dismissed speculation that any price changes were delayed due to recent state assembly elections, asserting that fuel pricing is unrelated to political events. The minister highlighted that while global uncertainty poses challenges, the government has managed to turn these into opportunities, though future price hikes cannot be ruled out.
India Today | Latest StoriesIndia Oil Minister Rules Out Lockdown Amid Fuel Conservation Appeal
Indian Oil Minister Hardeep Singh Puri has explicitly stated that there are no plans to impose a nationwide lockdown, addressing speculation arising from Prime Minister Narendra Modi's recent appeal for citizens to adopt fuel-conservation measures. Speaking at the CII Annual Business Summit 2026, Puri clarified that while the government is urging austerity to mitigate the fiscal strain caused by the ongoing West Asia conflict, these measures do not include restrictive lockdowns. Prime Minister Modi had previously suggested adopting COVID-era practices such as working from home, carpooling, and using public transport to reduce petrol and diesel consumption. Additionally, he urged citizens to postpone gold purchases and foreign travel to conserve foreign exchange reserves. Puri highlighted that LPG production has been significantly increased to 54,000 tonnes per day to ensure supply stability amidst regional geopolitical tensions. The minister framed Modi's appeal as a necessary wake-up call for the nation to think critically about reducing dependency and enhancing self-reliance through reduced consumption of edible oils and chemical fertilizers, rather than imposing mandatory restrictions on movement or business operations.
Economic TimesCongress Leader Criticizes PM Modi's Appeal to Reduce Consumption, Urges Corporate Support
Congress leader V Hanumantha Rao has strongly criticized Prime Minister Narendra Modi's recent appeal for citizens to reduce consumption of fuel and gold to conserve foreign exchange reserves. Rao labeled the Prime Minister's call a post-election lecture, arguing that the government is shifting the burden of economic management onto the common public after securing victory. He specifically urged the government to instead ask industrialists like Gautam Adani and Mukesh Ambani, as well as people from Gujarat, to contribute more significantly to helping India. In contrast, Telangana BJP chief N Ramchander Rao defended Modi's seven appeals, citing the ongoing West Asia crisis and the need to protect India's forex reserves amidst global volatility. He highlighted that India has managed fuel prices better than other nations facing rationing. The Prime Minister had encouraged using public transport, car-pooling, and electric vehicles, while also urging farmers to reduce chemical fertilizer usage to cut import costs. This exchange underscores the political friction regarding economic responsibility and conservation strategies in India.
Economic TimesPM Reiterates Fuel Conservation Measures Amid Global Oil Price Surge
On May 11, 2026, the Prime Minister of India reinforced his appeal for citizens to conserve fuel, following a significant surge in global crude oil prices. The Prime Minister urged the public to adopt specific lifestyle changes to mitigate the economic impact of the energy crisis. Key recommendations included switching to online classes to reduce commuting, avoiding the purchase of gold to prevent capital outflow, and prioritizing local products under the 'Vocal for Local' initiative. Additionally, the appeal suggested opting for destination weddings within the country to save on foreign exchange. This call to action comes at a critical time when international oil markets are experiencing volatility, threatening to increase domestic fuel costs and inflation. The government aims to reduce the national import bill and stabilize the economy through collective citizen participation. By emphasizing self-reliance and reduced consumption of non-essential imports, the administration seeks to buffer the domestic economy against external shocks. The reiterated message highlights the urgency of the situation and the need for immediate behavioral adjustments across various sectors of society, including education, retail, and social events.
India Today | Latest StoriesOpposition Warns of Fuel Price Hike After PM Modi's Appeal to Cut Consumption
Indian Prime Minister Narendra Modi has urged citizens to reduce their consumption of fuel and edible oil, citing disruptions in global supply chains caused by the ongoing crisis in West Asia. This appeal has triggered a sharp political debate within India. Opposition parties have strongly criticized the Prime Minister's statement, interpreting it as an admission of governmental failure to manage economic stability. They argue that the administration is shifting responsibility onto the public following recent elections, with some warning that petrol and diesel prices are likely to rise despite the call for conservation. Conversely, the ruling Bharatiya Janata Party (BJP) has defended Modi’s approach, framing it as an example of responsible leadership prioritizing national interest during turbulent geopolitical times. The incident highlights the domestic political ramifications of international conflicts, specifically the tensions involving Iran and Israel, which threaten energy security. As global markets react to potential blockades in the Strait of Hormuz, the Indian government faces pressure to balance diplomatic concerns with domestic economic stability, leading to heightened scrutiny of its energy policies and communication strategies amidst rising inflation fears.
Times of IndiaPM Modi Urges Indians to Cut Gold Spending to Protect Forex Reserves
Indian Prime Minister Narendra Modi has called on citizens to reduce expenditures on gold and petroleum products to help conserve the nation's declining foreign exchange reserves. Speaking on May 10, 2026, Modi advised the public to utilize public transport, adopt electric vehicles, revive work-from-home practices, and avoid non-essential foreign travel and gold purchases for the next year. The appeal comes as India faces significant pressure on its forex reserves, exacerbated by rising global oil prices which have surged from $70 to over $113 per barrel. As a net importer meeting 89% of its oil needs externally, India is vulnerable to currency fluctuations. The article highlights that while the Reserve Bank of India has increased its gold holdings to 880 tonnes, private citizen purchases drive dollar outflows, weakening the rupee and creating a vicious cycle where gold becomes increasingly expensive for Indian consumers. By prioritizing local goods and reducing import dependency, the government aims to stabilize the rupee and mitigate the economic strain caused by high import bills for both energy and precious metals.
The Indian ExpressModi Urges Indians to Conserve Fuel and Cut Imports Amid Oil Shock
Indian Prime Minister Narendra Modi has issued an urgent appeal to citizens to conserve fuel and reduce non-essential spending to help the government preserve foreign exchange reserves amidst a spreading global oil shock. In a statement reported by Reuters, Modi encouraged the population to work from home where possible, limit travel, and halt the purchase of gold to mitigate the economic strain caused by high energy costs. Additionally, the Prime Minister directed farmers to reduce their fertilizer usage by up to 50 percent, aiming to lower import dependencies further. This call to action comes as India faces significant financial pressure, having spent approximately $174.9 billion on crude oil and refined product imports in the preceding period. The measures reflect the government's strategy to manage the balance of payments and stabilize the economy against volatile international energy markets. By targeting both consumer behavior and agricultural inputs, the administration seeks to collectively reduce the nation's import bill and safeguard its foreign currency holdings during this period of heightened global economic uncertainty and rising oil prices.
Oilprice.comPM Modi Urges Economic Self-Defence Measures Amid Global Oil Shock
Indian Prime Minister Narendra Modi has called for a campaign of 'economic self-defence' to shield India from global economic turmoil triggered by the war in West Asia and subsequent oil price spikes. Speaking at a rally in Hyderabad, Modi urged citizens to adopt lifestyle changes to conserve foreign exchange reserves. Key recommendations include reviving work-from-home practices, reducing fuel consumption through public transport and vehicle sharing, and postponing non-essential overseas travel. Notably, he appealed to the public to avoid buying gold for weddings for one year and to reduce edible oil usage. The Prime Minister also advocated for shifting cargo to railways, adopting electric vehicles, and cutting chemical fertilizer use by half in favor of natural farming. This appeal frames patriotism as responsible daily living during crises. The article contextualizes this within global trends, noting similar measures in countries like Indonesia and Myanmar, while contrasting them with financial support strategies in the UK, New Zealand, and Australia. The initiative aims to strengthen India's economic self-reliance and mitigate the impact of supply chain disruptions and soaring energy costs on the national economy.
India Today | Latest StoriesPM Modi Issues 14-Point Advisory on WFH, Fuel Conservation, and Domestic Consumption
Indian Prime Minister Narendra Modi delivered a comprehensive public appeal in Hyderabad, urging citizens to adopt specific lifestyle and economic changes to bolster national energy security and economic resilience amid global uncertainty. The advisory includes fourteen key recommendations, prominently featuring a return to work-from-home practices to reduce travel and fuel consumption. Modi emphasized cutting petrol and diesel usage by prioritizing public transport, carpooling, and electric vehicles, while shifting goods transport to railways. He strongly advised against non-essential foreign travel, such as overseas weddings and vacations, encouraging domestic tourism instead. Economic measures include postponing non-essential gold purchases for a year to protect foreign exchange reserves and prioritizing Made-in-India products. Additionally, the Prime Minister addressed health and agricultural sectors, recommending reduced edible oil consumption for better health and lower imports, urging farmers to cut chemical fertilizer use by half in favor of natural farming, and adopting solar-powered irrigation pumps. This wide-ranging directive links individual household habits and business operations to broader national interests, aiming to mitigate the economic impact of international conflicts and enhance self-reliance.
Economic TimesPM Modi Urges Indians to Avoid Gold Purchases Amid Oil Crisis
Indian Prime Minister Narendra Modi has appealed to citizens to refrain from buying gold for weddings for one year to help stabilize the nation's economy. This unusual request comes amidst a severe global energy crisis triggered by Middle East conflicts and tensions around the Strait of Hormuz, which have driven crude oil prices from $70 to nearly $126 per barrel. As India imports 85% of its oil and is a major gold importer, both commodities require significant US dollar expenditures. The surge in oil costs has already weakened the Indian rupee and strained foreign exchange reserves. By reducing discretionary gold imports, the government aims to curb dollar outflows, narrow the current account deficit, and prevent further depreciation of the rupee. Modi also encouraged fuel conservation measures, such as reducing unnecessary travel and reviving work-from-home practices. This strategy mirrors past governmental efforts to manage economic stress by limiting gold imports through duties or restrictions. The appeal highlights the critical link between household consumption habits and macroeconomic stability during periods of geopolitical uncertainty and high inflation.
India Today | Latest StoriesIndian PM Modi Urges Remote Work and Fuel Conservation Amid Rising Energy Costs
Indian Prime Minister Narendra Modi has called for a series of austerity measures to combat the pressure exerted by rising global energy prices on India's foreign exchange reserves. Speaking on May 10, 2026, Modi urged citizens and businesses to return to remote work and online meetings, practices widely adopted during the pandemic, to significantly reduce fuel consumption. He also encouraged the use of public transportation and carpooling. Beyond energy conservation, the Prime Minister advised Indians to avoid purchasing gold and to limit non-essential international travel for at least one year to save foreign currency. The directives extended to agricultural sectors, with farmers asked to cut fertilizer use by half, and households urged to reduce cooking oil consumption. These measures come as India, the world's third-largest oil importer, attempts to stabilize its economy without raising domestic diesel and gasoline prices despite the global surge. The context includes geopolitical tensions affecting oil supplies, such as crises in the Strait of Hormuz. Modi framed these conservation efforts as both healthy and patriotic actions necessary to protect the nation's economic stability during this period of global financial strain.
Folha de S.Paulo - Em cima da hora - PrincipalPM Modi Urges Fuel Conservation and Reduced Gold Imports Amid Global Energy Crisis
Indian Prime Minister Narendra Modi has issued a strong appeal to citizens to conserve foreign exchange reserves amidst ongoing global energy disruptions caused by the prolonged blockade of the Strait of Hormuz. Speaking at an event in Hyderabad, Modi advocated for significant lifestyle changes, including increased use of public transport, a revival of work-from-home arrangements, and the avoidance of non-essential overseas travel such as weddings and vacations. Additionally, he urged the public to refrain from purchasing gold for one year to reduce import dependency. The Prime Minister also addressed the agricultural sector, encouraging farmers to halve their usage of chemical fertilizers and transition towards natural farming methods. These measures come as crude oil prices remain elevated for the third consecutive month, severely impacting Indian refiners. The government is currently exploring multiple sources to secure oil and gas supplies amid the seventy-five-day blockade. This call to action represents a drastic step by the administration to mitigate the economic impact of the international conflict on India's trade balance and energy security.
Times of IndiaIndian PM Modi Urges Fuel Conservation Amid Middle East Supply Disruptions
Indian Prime Minister Narendra Modi has called on citizens to reduce petrol and diesel consumption as the ongoing conflict in the Middle East disrupts global energy supplies. Speaking in Telangana, Modi advised using public metro systems, carpooling, and resuming remote work practices established during the pandemic to conserve fuel and save foreign exchange reserves. While India has maintained stable prices for petrol and diesel, it recently increased liquefied petroleum gas (LPG) costs following US-Israeli strikes on Iran and subsequent blockades of the Strait of Hormuz. Petroleum Minister Hardeep Singh Puri highlighted the financial strain on state-owned oil marketing companies, which are absorbing massive daily losses by selling fuel below import costs to protect consumers. The government also faces significant revenue declines after reducing taxes on domestic fuel. Puri urged the public to transform Modi’s appeal into a mass movement for energy conservation, emphasizing the critical need to mitigate the economic impact of volatile global oil markets and ensure uninterrupted energy availability for the nation.
The New ArabCongress Slams PM Modi's Fuel Conservation Appeal Amid Iran-US War
The Indian National Congress has sharply criticized Prime Minister Narendra Modi for urging citizens to conserve fuel and postpone gold purchases, labeling the appeal as shameless and reckless. The opposition argues that the government is shifting the burden of the global energy crisis, exacerbated by the ongoing Iran-US war, onto ordinary people instead of ensuring robust energy security measures. Congress leader K C Venugopal accused the Centre of failing to plan adequately despite months of conflict, warning of potential economic catastrophe. In response, Union Petroleum Minister Hardeep Singh Puri defended the Prime Minister’s call, stating that conservation efforts are vital to managing import bills and mitigating losses incurred by oil marketing companies, which are absorbing high crude costs to keep domestic prices stable. Puri highlighted that India has avoided steep price hikes unlike many other nations. The dispute highlights political tensions over economic management and energy policy amidst international geopolitical instability, with the opposition demanding better contingency planning and adequate fuel reserves to prevent citizen hardship.
India Today | Latest StoriesPM Modi Urges Citizens to Cut Fuel Use and Avoid Foreign Travel Amid Energy Crisis
Prime Minister Narendra Modi addressed a public meeting in Hyderabad on May 10, 2026, urging Indian citizens to adopt nationally responsible lifestyle choices to combat global economic uncertainties. Citing elevated crude oil prices and supply chain disruptions triggered by the U.S.-Iran war, Modi called for reduced fuel consumption, increased use of public transport, and the adoption of electric vehicles. He specifically advised against non-essential gold purchases and foreign travel, including overseas vacations and destination weddings, to conserve foreign exchange reserves. Instead, he promoted domestic tourism and the 'Vocal for Local' campaign, encouraging the use of indigenous products. Modi also suggested reviving pandemic-era practices like work-from-home arrangements and virtual meetings to lower energy demand. Additionally, he urged farmers to reduce chemical fertilizer usage by up to 50% in favor of natural farming and solar-powered irrigation to protect soil health and reduce import dependence. The Prime Minister emphasized that patriotism involves discharging civic responsibilities during difficult times, calling for collective action from citizens, political parties, and media to strengthen India's economic resilience against inflationary pressures and global shocks.
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