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Domestic economic policy

India's Fuel Reserves and Austerity Call

Analysis based on 18 articles · First reported May 12, 2026 · Last updated May 13, 2026

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The assurances from Hardeep Singh Puri regarding India's fuel reserves and increased LPG production are expected to stabilize market sentiment regarding energy security. Narendra Modi's call for austerity measures, including reduced fuel consumption and postponed gold purchases, aims to strengthen India's economy and conserve foreign exchange, potentially impacting demand in these sectors.

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Union Petroleum and Natural Gas Minister Hardeep Singh Puri assured that India has sufficient reserves of crude oil, LNG, and LPG, with 69 days of crude and LNG stock and 45 days of LPG stock, despite rising tensions in West Asia. He also announced that India has significantly increased daily LPG production from 35,000-36,000 tonnes to 54,000 tonnes to ensure uninterrupted supply. Concurrently, Prime Minister Narendra Modi appealed to citizens for austerity, urging reduced petrol and diesel consumption, increased use of public transport and electric vehicles, and postponement of non-essential foreign travel and gold purchases for one year to conserve foreign exchange and lessen fiscal strain from the West Asia conflict. These measures aim to manage the economic impact of the geopolitical situation.

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Narendra Modi prime minister India Narendra Modi serves as the Prime Minister of India, acting as the head of government and leading the country's domestic
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