Oil Minister Hardeep Singh Puri on Tuesday (May 12) assured that there is no fuel supply issue in the country amid the ongoing West Asia conflict, stating that India currently has reserves for 69 days of crude oil and LNG, along with 45 days of LPG stock.
45 days of LPG stock
Speaking at the CII Annual Business Summit, Puri said LPG production has been significantly ramped up from 35,000-36,000 tonnes per day to nearly 54,000 tonnes per day to meet rising demand and maintain uninterrupted supplies. "There is no LPG supply issue, and the country has 69 days of crude oil, LNG stock, and 45 days of LPG stock. LPG production has been ramped up from 35,000-36,000 tonnes/day to 54,000 tonnes amid the West Asia conflict," he said.
"We managed the crisis with responsibility; there have been no dry-outs anywhere," the minister added.
PM Modi's appeal for austerity as a wake-up call: Puri
Puri also described Prime Minister Narendra Modi's appeal for austerity as a wake-up call to begin thinking about measures to reduce fiscal pressure arising from the West Asia conflict. "PM Narendra Modi's austerity appeal is a wake-up call to start thinking of measures to lessen fiscal strain from West Asia conflict," Puri said at the summit.
On Sunday, PM Modi called for judicious use of fuel, postponement of gold purchases, and foreign travel, among other measures, to strengthen the economy.
Addressing a rally organised by the Telangana BJP in Hyderabad, he suggested reducing petrol and diesel consumption, using metro rail services in cities, carpooling, increased use of electric vehicles (EVs), utilising railway services for parcel movement, and working from home to conserve foreign exchange amid the crisis in West Asia.
Stressing the need to conserve foreign exchange amid the crisis, he called for postponing gold purchases and foreign travel for one year.
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