National

Embrace Work From Home Save Petrol Dont Buy Gold For A Year

By Samira Vishwas

The ongoing war in West Asia and the resulting global oil crisis now seems to be affecting India too. Prime Minister Narendra Modi has appealed to the countrymen to reduce the consumption of petrol and diesel, avoid non-essential foreign trips and even not to buy gold for weddings for a year. He said that in the current circumstances, saving foreign exchange has become very important in the national interest.

Addressing an event in Secunderabad, Telangana on Sunday (May 10) amid rising international oil prices and the impact of the Iran war, the Prime Minister said that during the Corona period, the country had successfully adopted arrangements like work from home, online meetings and video conferences and now the time has come to give priority to those methods again. He said, “At the time of Corona, we had adopted arrangements like work from home, online meetings and video conferences. Now the need is that we adopt those habits again, because it is in the national interest.”

Referring to the rising fuel prices globally, the Prime Minister said, “Petrol and diesel have become very expensive all over the world. It is the responsibility of all of us to save the foreign exchange that is spent in buying petrol and diesel.” During his address, PM Modi also appealed to the people to exercise restraint in expenses. “I would urge people not to buy gold for weddings for a year,” he said.

In fact, due to increasing tension in West Asia and supply disruption in the Strait of Hormuz, crude oil prices have increased from about $ 70 per barrel to about $ 126 per barrel. About 20 percent of the world’s oil is transported through this sea route.

According to government and industry sources, prices of petrol and diesel in India may soon increase. It is being told that government oil companies like Indian Oil, Bharat Petroleum and Hindustan Petroleum are facing losses of about Rs 30 thousand crore every month.

According to sources, in the current situation, the government and oil companies are themselves bearing the burden of about Rs 24 per liter on petrol and Rs 30 per liter on diesel so that consumers can get immediate relief. However, in the coming days, the prices of petrol and diesel may increase by Rs 4 to 5 per liter, while domestic LPG cylinder may become costlier by Rs 40 to 50.

The Prime Minister appealed to reduce the consumption of not only fuel but also edible oil and chemical fertilizers. He said, “We also have to spend foreign exchange on importing edible oil. If every family reduces the use of edible oil a little, it will be a big contribution to patriotism.”

Referring to the agriculture sector, PM Modi said that India imports large quantities of chemical fertilizers from abroad. He urged farmers to move towards natural farming and halve the use of chemical fertilizers. He said, “We should reduce the consumption of chemical fertilizers to half and move towards natural farming. This will save foreign exchange and our land and fields will also be safe.”

According to government officials, India has increased LPG production from 36 thousand tonnes per day to 54 thousand tonnes per day to deal with the current crisis. Apart from this, import of crude oil from Russia, America and West Africa has been increased and refineries are being operated at more than 100 percent capacity. The central government has already cut excise duty to reduce the impact of international prices, but if the global situation worsens further, the common people may face additional burden of inflation in the future.

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