PM Modi must call all-party meet to discuss impact of West Asia conflict: Pawar

Nationalist Congress Party (SP) leader Sharad Pawar on Tuesday (May 12, 2026) warned that Prime Minister Modi’s call for austerity signals a long-term impact on the Indian economy and demanded an all-party meeting to discuss the instability caused by the West Asian conflict.

“Due to the sudden nature of Prime Minister Narendra Modi’s statements, the economy is likely to face far-reaching impacts, which will create an atmosphere of uneasiness among citizens, industrial-business sector and investors,” said Mr. Pawar, who is also the former Chief Minister of Maharashtra.

Given the “seriousness” of this issue, he demanded that Mr Modi convene an all-party meeting chaired by him. “For the welfare of the country, leaders of all parties should be involved in decision-making on matters of national interest,” Mr. Pawar said in X.

Prime Minister Modi’s call for cuts

During an event in Hyderabad two days ago, Mr Modi appealed to citizens to cut back on fuel, gold and cooking oil due to the conflict in West Asia.

He also recommended that the Central Government prioritize greater sensitivity and consult leading economists and industry experts to deal with the resulting instability.

Maharashtra Navnirman Sena (MNS) chief Raj Thackeray also questioned Mr Modi’s objection and noted its impact on foreign corporate investments.

“Investors have been steadily withdrawing money from Indian markets. Estimates suggest that around Rs 1.5 lakh crore has exited in the last few months,” he added.

Referring to the financial crises of 2008, 2011 and 2013, Mr. Thackeray said, “Crude oil is hovering around $90-100 per barrel today. This is not the first time such prices have been seen in the world. In the past, when prices were high, the BJP had aggressively attacked the UPA on fuel prices. But Dr. Manmohan Singh never asked citizens to stop traveling abroad.”

“Why were citizens paying high prices for petrol and diesel when crude oil prices dropped to $60-65 per barrel? The government earned hundreds of thousands of crores from fuel taxes. Where did this money go?” he asked.

Maharashtra Chief Minister Devendra Fadnavis supported PM Modi. He said India is in a better situation than neighboring countries. “Gasoline prices in Pakistan reached $450 per liter. The Prime Minister has created a stable environment.”