Modi’s austerity appeal signals deepening economic crisis: Mayawati

Mayawati on Tuesday said Prime Minister Narendra Modi’s recent appeal for austerity and fuel conservation reflected a deepening economic crisis in the country that extends beyond rising petroleum prices.

In a post on X, the Bahujan Samaj Party chief referred to Modi’s appeal made amid the ongoing conflict in West Asia and said the Prime Minister’s remarks indicated broader economic stress linked to foreign exchange pressures and rising fuel costs.

“This proves that the crisis confronting India is not limited merely to petroleum products such as petrol, diesel and cooking gas; rather, an economic crisis is also set to deepen,” Mayawati said.

She added that the economic situation was already affecting millions of Indians and warned that the hardships could continue in the coming months.

“In other words, at a time when nearly 100 crore citizens of the country, having already faced the severe blow of the COVID-19 era, are struggling even to secure their daily livelihood, there is nothing left of any significance to lose or to be more restrained about,” she said.

The BSP leader urged both the Centre and state governments to take proactive measures to support economically weaker sections and provide relief to poor and working-class families.

“Under these circumstances, the central and state governments should take proactive measures to provide some relief and support to these poor and hardworking families,” she said, adding that such steps would be in the interest of both the people and the country.

Modi had urged fuel conservation

Modi, while addressing a BJP rally in Hyderabad on Sunday, had called for judicious fuel consumption and conservation of foreign exchange in view of the continuing conflict in West Asia and its impact on global crude oil and fertiliser prices.

The Prime Minister urged citizens to reduce petrol and diesel usage, prefer metro rail services, adopt carpooling, increase use of electric vehicles and utilise railway freight services wherever possible.

He also appealed to people to postpone foreign travel and gold purchases for one year in order to conserve foreign exchange reserves.

“We have to save foreign exchange by any means,” Modi had said, while also encouraging greater use of work-from-home arrangements, virtual meetings and video conferencing methods that became common during the Covid-19 pandemic.

The remarks came amid sharp increases in global crude oil prices triggered by geopolitical tensions in West Asia, raising concerns over inflationary pressure and India’s import bill.