Prime Minister Narendra Modi has called upon Indian citizens to significantly reduce their use of edible oils and chemical fertilizers. The appeal is part of a broader strategy to strengthen the national economy, save crucial foreign exchange reserves, and promote self-reliance amidst ongoing global supply chain disruptions and volatile energy markets.
Saving Foreign Currency and National Health
During his address, PM Modi highlighted that India spends considerable foreign currency on importing edible oils. He stated that even a small reduction in consumption by each household would be a significant act of patriotism, contributing positively to both the national treasury and the health of individual families.
Similarly, the Prime Minister pointed to the substantial foreign exchange spent on importing chemical fertilizers. He urged farmers to halve their reliance on these chemicals and transition towards natural farming methods. This shift, he explained, would not only conserve foreign currency but also protect agricultural lands and the environment, referring to it as 'Mother Earth'.
Broader Economic Measures and Patriotism
Modi's appeal extends beyond just edible oil and fertilizers. He also emphasized the need to reduce petrol and diesel consumption. Citizens were encouraged to utilize public transport, such as the metro, wherever available, opt for car-pooling when private vehicles are necessary, and favor railways for goods movement. Increasing the adoption of electric vehicles (EVs) was also a key recommendation.
The Prime Minister underscored that patriotism is not solely defined by sacrifices at the border but also by responsible daily choices and duties towards the nation. He stressed the importance of saving foreign exchange by all means, especially as global prices for petrol and fertilizers have risen sharply. This national effort is deemed critical to navigate the current global economic crisis, placing the country's interests above all else.
India's state-owned oil companies, including Indian Oil Corporation, Bharat Petroleum Corporation Ltd, and Hindustan Petroleum Corporation Ltd, are currently absorbing significant under-recoveries to maintain stable petrol, diesel, and LPG prices despite international market volatility. This situation further highlights the urgency of the Prime Minister's call for reduced import dependence and conscious consumption.