Is India heading toward another economic crisis?

Prime Minister Narendra Modi has issued a major appeal to the nation amid rising tensions between the US and Iran.

To protect the country’s foreign exchange reserves, the PM has urged citizens to save petrol and diesel, reduce unnecessary spending, and avoid buying gold for at least one year.

With the potential for an international oil crisis, reports indicate that India’s import bill for gold, oil, travel, and fertilizers could reach ₹22 lakh crore this year.

To manage this pressure, the government is promoting Work From Home, carpooling, and the use of public transport like the Metro.

Even farmers are being requested to optimize fertilizer usage to help save the economy.

Do you think these measures will help India avoid a financial crisis? Let us know your thoughts in the comments.