First Cabinet Meeting After PM Modi's Save Energy Call - What To Expect?

Amid Prime Minister Narendra Modi's back-to-back appeals to make India 'Energy Independent', a Cabinet meeting is scheduled to be held tomorrow (May 13) at 11 AM. The announcement comes after Defence Minister Rajnath Singh chaired a meeting of the Informal Empowered Group of Ministers (IGoM), where concrete measures were discussed to shield supply chains and ensure uninterrupted energy flows amid the escalating West Asia crisis.Singh, while chairing a high-level meeting of the IGoM emphasised that the government is prioritising maritime security and economic stability to offset global volatility. The defence minister directed officials to take concrete steps to implement the Prime Minister Narendra Modi's appeal that included cutting fuel consumption

as part of efforts to help conserve India's foreign exchange reserves.The IGoM was informed that the country is secure, and there is no shortage of any petroleum product, even as most other nations have taken emergency measures to dramatically reduce domestic fuel consumption, the defence ministry said."India has 60 days of crude oil, 60 days of natural gas and 45 days of LPG rolling stock. The foreign exchange reserves stand at a comfortable USD 703 billion," it said. "India is the world's third largest oil refiner and fourth largest exporter of petroleum products, exporting to over 150 countries and is meeting domestic demand in full. But there is a huge cost being borne by the nation as international crude prices are continuing at very high levels," it said.The ministry said fuel conservation can ease this "burden".The Cabinet could be expected to take this discussion up further. A briefing after the Cabinet meeting is also expected.

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PM Modi's appeal to the nation

This comes as Prime Minister Narendra Modi reiterated his appeal to citizens to cut fuel consumption, avoid unnecessary foreign travel and reduce gold purchases.On Sunday, PM Modi spoke about global disruptions impacting fuel supplies and encouraged citizens to use resources with restraint. Speaking at an event in Hyderabad, PM Modi said, "Today, the need of the hour is to use petrol, gas, diesel and similar resources with restraint. We must use imported petroleum products only as needed. This will not only save foreign exchange but also reduce the adverse impact of war."A day later, he reiterated his appeal at a public meeting in Gujarat's Vadodara. PM Modi’s save energy pitch wasn’t a budget announcement or a policy rollout, it was about a demand-side intervention, with him asking 1.4 billion Indians to act as economic soldiers in a war India is not fighting but is paying for."We don't have big oil wells. We have to import petrol, diesel and gas," he said, adding, "Since petrol and diesel have become extremely expensive across the world, it is our responsibility to save fuel and thereby save the foreign exchange spent on purchasing petrol and diesel."India imports nearly 90 per cent of its crude oil needs, making it highly vulnerable to global supply shocks.