No LPG Shortage, No Lockdown: Hardeep Singh Puri Clarifies Modi’s Austerity Call

Union Minister of Petroleum and Natural Gas Hardeep Singh Puri, while addressing the CII Annual Business Summit 2026 on May 11 clarified that there are no plans to impose a lockdown in the country anytime soon.

Puri, who heads the Ministry of Petroleum and Natural Gas, said that there is no LPG supply issue and the country has 69 days of crude oil and LNG stock, and 45 days of LPG stock. He announced rationalisation of royalty rates for India’s upstream sector in the oil and gas sector.

Meanwhile, he applauded PM Modi’s stance on reducing dependency on the West Asia for importing resources by adding, “PM Narendra Modi’s austerity appeal is a wake-up call to start thinking of measures to lessen fiscal strain from West Asia conflict.”

Calling it a “major step towards regulatory clarity”, Puri said that the government has rationalised royalty rates and methodologies for crude oil, natural gas and casing head condensate — a light liquid hydrocarbon that separates from natural gas during production.

"We’ve managed the crisis with a sense of responsibility. There’s no dry-out anywhere. We have restored gas supplies to almost all sectors," said Hardeep Singh Puri at CII Summit.

Speaking at the CII Annual Business Summit, Puri said, “LPG production has been ramped up from 35,000-36,000 tonnes/day to 54,000 tonnes amid West Asia conflict. PM Narendra Modi’s austerity appeal a wakeup call to start thinking of measures to lessen fiscal strain from the West Asia conflict.”

What Modi Suggests

During his address at a rally organised by the Telangana BJP in Hyderabad on May 10, PM Modi suggested reducing petrol and diesel consumption using metro services in cities, carpooling, increased the use of electric vehicles, utilising railway services for parcel movement and working from home to conserve foreign exchange amid the West Asia crisis.

Emphasising the need to save foreign exchange, Modi had also urged people to postpone the purchase of gold and foreign travel for one year. He urged citizens to focus on reducing the consumption of edible oil, lowering the use of chemical fertilisers, promoting natural farming and using ‘swadeshi’ (domestic) products to save foreign exchange and make the country self-reliant.