Austerity | Brace for the worst
As the oil shocks threaten India's economy, Prime Minister Narendra Modi calls for prudent spending. What lies ahead
(Illustration by Nilanjan Das/AI)
ISSUE DATE: Jun 1, 2026 | UPDATED: May 22, 2026 19:05 IST
Prime Minister Narendra Modi’s invocation of the COVID years at a public meeting in Secunderabad on May 10 was not empty remembrance of tough times. It was a warning. During the pandemic, Indians had made their peace with work-from-home arrangements, online meetings and curtailed consumption. Now, Modi suggested, we may need to revert to some of those habits—not because of a virus, but because of an economic storm gathering over India.