‘No need to panic’: Govt says PM Modi’s appeal aimed at collective participation, fuel stocks sufficient

Following Prime Minister Narendra Modi’s recent appeal to citizens to support the country during the ongoing West Asia crisis, a senior official from the Ministry of Information and Broadcasting on Monday (May 11) clarified that the message was intended to encourage “collective participation” in dealing with global economic challenges.

Addressing reporters after an inter-ministerial meeting in New Delhi, C Senthil Rajan, Joint Secretary in the Ministry of Information and Broadcasting, explained the purpose behind the Prime Minister’s remarks.

Rajan said, “Prime Minister, in his speech in Hyderabad, has called for a collective participation to help India face global economic disruptions, supply chain challenges, and rising prices caused by international conflicts. He has emphasised the need for citizens to live responsibly and fulfil their duties towards the country during difficult times. The idea is for optimum and efficient utilisation of the available resources. And we request all of you to kindly report the spirit in which he has made this appeal.”

He also assured that India currently has adequate supplies of essential resources and said the Prime Minister’s suggestions, including promoting domestic tourism and postponing non-essential purchases, were aimed at strengthening the economy during uncertain global conditions.

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“The Prime Minister has just made this appeal in the spirit that we actually take steps to efficiently utilise whatever is available. Just to repeat again what he said, he has appealed to citizens to help conserve foreign exchange reserves by avoiding unnecessary foreign travel, overseas vacations, and foreign weddings; choosing domestic tourism and celebrations within India,” Rajan added.

Govt assures strong energy security amid global uncertainty

The Informal Group of Ministers (IoGM) also held its fifth meeting on Monday, during which the government reviewed India’s preparedness amid international volatility and stressed that the country’s energy security remains strong.

The meeting, chaired by Defence Minister Rajnath Singh, focused on developing a strategy that combines long-term planning with public participation, similar to the collective approach seen during the COVID-19 pandemic.

According to a statement issued by the Ministry of Defence, “The IGoM was informed that the country is secure, and there is no shortage of any petroleum product, even as most other nations have taken emergency measures to dramatically reduce domestic consumption. India has 60 days of crude oil, 60 days of Natural Gas and 45 days of LPG rolling stock. The foreign exchange reserves stand at a comfortable $703 billion.”

The ministry further said that India remains the world’s third-largest oil refiner and the fourth-largest exporter of petroleum products, supplying fuel to more than 150 countries while fully meeting domestic demand.