‘Atmosphere of unease’: Sharad Pawar demands all-party meet as PM Modi’s austerity call sparks alarm
NCP (SP) chief Sharad Pawar calls for a high-level review with economists after PM Modi asked the nation to cut back on spending to save foreign exchange.
Sharad Pawar (left) has warned of economic instability and urged an all-party meeting after PM Modi's austerity call (File photos). Following Prime Minister Narendra Modi’s urgent appeal for citizens to adopt austerity measures, Nationalist Congress Party (SP) president Sharad Pawar warned Tuesday that the “sudden” announcement signals a long-term impact on the Indian economy. He called for PM Modi to convene an all-party meeting to discuss the growing economic instability triggered by the conflict in West Asia.
In a social media post, Pawar said, “Against the backdrop of the unstable and war-like situation in the Middle East, the Prime Minister made several announcements two days ago. These are likely to have long-term impacts on the country’s economy,” he stated.
मध्यपूर्वेतील अस्थिर आणि युद्धजन्य परिस्थितीच्या पार्श्वभूमीवर देशाचे प्रधानमंत्री नरेंद्रजी मोदी (@narendramodi) यांनी दोन दिवसांपूर्वी काही घोषणा केल्या. त्यांचा देशाच्या अर्थव्यवस्थेवर दूरगामी परिणाम होण्याची शक्यता आहे. या घोषणा अचानक करण्यात आल्याने सर्वसामान्य नागरिक,…
— Sharad Pawar (@PawarSpeaks) May 12, 2026
https://platform.twitter.com/widgets.js
The veteran leader noted that the unexpected nature of the PM’s advisory, which urged citizens to cut back on fuel, gold, and edible oil, has created “an atmosphere of unease” among the general public, the industrial sector, and global investors.
“In matters of national interest, it is essential to implement decision-making processes by taking leaders of all political parties into confidence,” Pawar urged. He also recommended a high-level review involving prominent economists and industry experts.
“A comprehensive discussion on future policies should be held. Building confidence and stability among the people of the country should be the government’s topmost priority in the current circumstances—this is our firm stance,” he said.
Meanwhile, Maharashtra Chief Minister Devendra Fadnavis defended PM Modi’s remarks, citing the dire energy crisis. He noted that the conflict involving the US, Israel, and Iran has choked global supply chains.
“Even our neighbour Pakistan is facing severe scarcity, with petrol prices reaching Rs 450 per litre,” Fadnavis said. “The PM has ensured our supply remains stable, but we must use resources properly to avoid future shortages.”
Fadnavis also took a swipe at Rahul Gandhi’s criticism of PM Modi, stating, “Somewhere, his understanding is simply lacking. The public has understood the situation and will respond appropriately.”
The Maharashtra Congress, however, blamed PM Modi for the brewing crisis, which it said is a result of PM Modi’s “incompetence and careless attitude”.
“PM Modi’s advice to citizens on reducing the use of petrol and diesel, gold purchases, fertilisers, and edible oil is proof that the ‘compromised prime minister’ has completely failed in governing the country,” the Congress said.
The current political row followed PM Modi’s recent speeches in which he asked the nation to adopt certain measures in the wake of the West Asia crisis. He has urged citizens to use petrol and diesel sparingly, adopt a work-from-home policy and use public transport. He also asked them to postpone discretionary gold purchases for at least one year, reduce edible oil consumption to save foreign exchange, and cut chemical fertiliser use.
Share
