PM Modi again calls for reduced import reliance amid global turmoil; govt assures stable oil stocks
Hey there! So, you know how CLAT often tests your understanding of current affairs and how they relate to law and policy? This news is a great example of that. Basically, Prime Minister Modi is urging everyone to cut back on imports and foreign spending because of global economic instability. He's drawing parallels to past national crises, asking citizens to be mindful of their foreign exchange outflows. The government is reassuring us that oil stocks are stable and that they're taking steps to ensure essential supplies. This ties into broader themes of economic policy and national security, potentially relevant to constitutional law or even international economic law topics you might encounter. The takeaway here is to understand the government's push for self-reliance and how economic challenges can influence policy decisions that might eventually become legal frameworks.
Prime Minister Narendra Modi
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A day after he asked that people reduce consumption of petrol, diesel and other commodities, Prime Minister Narendra Modi again issued an appeal to citizens to support the government’s efforts to combat global economic disruptions by consciously reducing import dependence and avoiding activities that involve excessive foreign exchange outflow.
Speaking in Vadodara, the PM drew parallels with previous national crises and wars. “Whenever India faced war or any major crisis, citizens fulfilled their responsibility on the government’s appeal. We need to do the same now. We must make all efforts to reduce the use of imports and avoid personal activities that involve spending foreign currency,” the PM said. “India spends lakhs of crores of rupees in foreign exchange to import many products from abroad. The prices of imported goods are soaring and global supply chains have been severely disrupted. Just as every drop fills a pot, every small and big effort matters. We must reduce the use of products that come from abroad and avoid unnecessary dependence on imported goods in our daily lives.
The government simultaneously rushed to reiterate the PM’s appeal while assuring that crude oil inventories remain stable and refineries are operating at optimum levels. Defence Minister Rajnath Singh chaired the fifth meeting of the Informal Group of Ministers) to review the existing risks to energy supply chains and domestic availability of essential commodities in the wake of the West Asia conflict.
“I urge people to remain calm and avoid any kind of panic as the government is taking concrete steps to prevent shortages or disruptions in supply chains. PM Modi’s appeal for collective participation of the people to help the country face global disruptions and challenges is going to be a significant step towards self-reliance and ensuring energy security. It is PM’s broader message about conservation during a difficult global period,” Singh stated in a post on X.
Speaking at an inter-ministerial press briefing, Sujata Sharma, Joint Secretary (Marketing & Oil Refinery), Ministry of Petroleum & Natural Gas, outlined the official measures to ensure uninterrupted fuel supplies.
“...Our crude oil inventory remains well-maintained. Our refineries are operating at optimum levels. There are no instances of dry-outs at any retail outlets. Nor have any dry-outs been reported at LPG distributorships. Adequate stocks of petrol and diesel are available, and LPG supplies for domestic cooking purposes are being maintained,” Sharma said.
She noted that over the past three days, 1.26 crore LPG cylinders had been delivered to households against 1.14 crore bookings. She added that sales of commercial LPG have exceeded 17,000 tonnes over the last three days while sales of Auto LPG have also surpassed 762 tonnes.
PM Modi had, on Sunday, urged citizens to help conserve foreign exchange reserves by avoiding unnecessary foreign travel, overseas vacations, and foreign weddings, choosing instead domestic tourism and celebrations within India. The PM had also requested people to avoid non-essential gold purchases for one year and prioritise work from home, reduce cooking oil use, cut petrol and diesel consumption by using the metro and public transport wherever available, opting for car-pooling when private vehicles are necessary and increasing the use of electric vehicles.
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