Prime Minister Narendra Modi has urged citizens to adopt fuel-saving measures, reduce non-essential imports, and limit overseas travel as rising global energy prices continue putting pressure on India’s foreign exchange reserves.
Addressing the nation on Sunday, Modi emphasized the need to conserve foreign exchange and encouraged people to adopt practices that reduce fuel consumption. He suggested a wider return to work-from-home and online meetings, practices that became common during the COVID-19 pandemic.
“In the current situation, we must place great emphasis on saving foreign exchange,” Modi said.
The Prime Minister also encouraged greater use of public transport systems such as metros and promoted carpooling wherever possible to help conserve fuel.
India remains the world’s 3rd-largest importer and consumer of oil. Despite the recent global surge in energy prices, the government last month stated that there was no proposal to increase diesel and petrol prices, making India one of the few countries yet to revise retail fuel rates significantly.
Modi further urged citizens to avoid non-essential spending that impacts foreign exchange reserves. He specifically advised people to reduce gold purchases, especially during weddings, and limit overseas travel for at least 1 year.
He also appealed to households to reduce cooking oil consumption, describing the move as both healthy and patriotic.
In addition, Modi called on farmers to lower fertilizer usage by as much as 50%, highlighting the importance of efficient resource utilization amid global economic pressures.
The appeal comes as India continues monitoring the impact of rising international energy prices and import costs on the economy and forex reserves.
Also read: Viksit Workforce for a Viksit Bharat
Do Follow: The Mainstream LinkedIn | The Mainstream Facebook | The Mainstream Youtube | The Mainstream Twitter
About us:
The Mainstream is a premier platform delivering the latest updates and informed perspectives across the technology business and cyber landscape. Built on research-driven, thought leadership and original intellectual property, The Mainstream also curates summits & conferences that convene decision makers to explore how technology reshapes industries and leadership. With a growing presence in India and globally across the Middle East, Africa, ASEAN, the USA, the UK and Australia, The Mainstream carries a vision to bring the latest happenings and insights to 8.2 billion people and to place technology at the centre of conversation for leaders navigating the future.
