Brief by Shorts91 Newsdesk / 10:58am on 13 May 2026,Wednesday India
Prime Minister Narendra Modi on Wednesday chaired a Union Cabinet meeting to review India’s economic preparedness amid the escalating West Asia crisis and rising global oil prices. The government is considering stricter austerity measures to protect foreign exchange reserves and control fuel import costs. In recent speeches, Modi urged citizens to reduce fuel consumption, avoid foreign travel, postpone gold purchases and prefer Indian-made products. The Centre has already raised gold import duties and cut official convoy usage. Reports suggest the government may expand work-from-home practices, restrict non-essential spending and review fuel pricing as Brent crude crosses $105 per barrel amid tensions involving Iran, Israel and the US. (PC: X)
