Amid the global energy crisis arising from increasing tensions in West Asia and breaking supply chains, Prime Minister Narendra Modi has appealed to citizens to save petrol, diesel, and gold. According to the International Energy Agency, over 40 countries have already taken such strict measures before India.
Neighboring countries like Pakistan, Bangladesh, and Sri Lanka have re-adopted the work-from-home culture to save energy. Measures such as petrol rationing, reduction in office hours, and promotion of public transport have been implemented at war level to stabilize the faltering economy. Each country is formulating its strategy to tackle the energy crisis.
In Sri Lanka, there is a four-day work week and a rule to turn off street lights in the evening, while in Bangladesh, the AC temperature has been fixed at 25°C. In Pakistan, markets are being closed by 8 PM, and Nepal has set a fuel quota for government vehicles. China is relying heavily on electric vehicles and solar energy to reduce its dependence.
Countries like Jordan and Indonesia have even imposed temporary bans on non-essential official foreign travel to safeguard foreign exchange reserves. PM Modi's appeal aims to protect the country from economic recession and strengthen the domestic currency. The government wants citizens to promote tourism within the country instead of traveling abroad, ensuring that money remains with Indian traders.
The rationale behind the appeal to save petrol and diesel is that despite the surge in global prices, the government has not burdened the public, but it is essential to reduce consumption to maintain this. In India, there are also considerations to reduce the fleet of ministers and implement systems like odd-even in the future to ensure the country's economic pace remains secure during this period of global uncertainty.
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