Bracing for an energy emergency
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In May 2022, Prime Minister Narendra Modi urged Indian citizens to adopt drastic austerity measures amidst a looming energy emergency. The directive included working from home, using public transport, reducing cooking oil and fertilizer consumption, and shunning imported goods, gold, and foreign travel. This appeal was a direct response to a severe power crisis driven by extreme heatwave and critical coal shortage across India, leading to widespread electricity cuts. This pivotal moment highlighted India vulnerability to global supply chain disruptions and surging commodity prices, significantly exacerbated by the Russia-Ukraine War. Modi's intervention aimed to mitigate an escalating Current Account Deficit and rampant inflation, demonstrating the cascading economic pressures on a major developing economy navigating a volatile global environment.