Live Updates > Live Update Details
2026-05-25 17:25:42
[Indian Prime Minister Calls for Nationwide Austerity Measures, Finance Minister Responds to Opposition: This Isn't a Foreign Policy, It's About Real Money] ⑴ Indian Finance Minister Nirmala Sitharaman defended Modi's call for austerity measures during the Iran war, pointing out that the Middle East crisis means higher fuel costs for businesses and individuals, delivery delays, more expensive transportation, raw material shortages, working capital pressure, and uncertainty regarding export orders. ⑵ Modi made a rare public appeal this month for the public to reduce fuel consumption and avoid non-essential travel to help conserve foreign exchange reserves. Sitharaman emphasized that the Prime Minister's appeal is particularly important in the current context. ⑶ The opposition criticized the austerity measures, stating that they indicate greater economic pressure than official data suggests. Opposition Leader Rahul Gandhi called the move an "admission of defeat."
