What specific actions did Prime Minister Modi urge Indian citizens to take to conserve fuel and foreign exchange reserves?

Modi urged citizens to use petrol, diesel, and gas "with great care" and only "as much as is needed" to save foreign currency and reduce the adverse effects of war crises; he recommended reviving pandemic-era measures like working from home and online meetings to conserve energy; he also advised avoiding unnecessary overseas travel, vacations, and weddings, opting for domestic tourism instead, and refraining from non-essential gold purchases for a year.

What economic impacts does the Reserve Bank of India associate with a 10% rise in crude oil prices, and how is India’s position as a major oil importer exacerbating the crisis?

According to the central bank, a 10% rise in crude prices cuts economic growth by 15 basis points and lifts inflation by 30 basis points; India, as the world’s third-largest oil importer, has been among the hardest hit by the prolonged Middle East crisis, with the rupee hitting a record low in recent weeks, straining foreign-exchange reserves and threatening to derail its growth trajectory.

Modi Urges Indians to Conserve Fuel, Curb Costly Oil Imports

May 10, 2026

Indian Prime Minister Narendra Modi urged citizens to conserve fuel as soaring oil prices linked to the Iran war threaten the nation's import bill and economic growth. The government approved a credit guarantee plan to cushion businesses against the energy crisis impact.

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