A day after Prime Minister Narendra Modi called upon citizens to save fuel, avoid foreign travel and avoid non-essential gold purchase for a year, the government said the appeal was meant to ensure optimum utilisation of available resources and did not mean any shortages of essential commodities.Defence Minister Rajnath Singh chaired the fifth meeting of the informal group of ministers on the West Asia response today and said there was no cause for panic.“I urge the people to remain calm and avoid any kind of panic as the government is taking concrete steps to prevent shortages or disruptions in supply chains. The PM’s appeal for collective participation of the people to help the country face global disruptions and challenges is going to be a significant step towards self-reliance and ensuring energy security. It is the PM’s broader message about conservation during a difficult global period,” he said.At the meeting, ministers were informed of the availability of surplus essential commodities.“The present conservation is intended towards long-run capacity building if the crisis prolongs. The supply management has been good and the people need not panic or resort to overpurchase of fuel and other products,” a statement from the government said with Singh directing officials to take concrete steps to implement the PM’s appeal on the ground.In important information, the government said there was no shortage of any petroleum product in the country and petrol and diesel prices were being maintained at current levels.“Even as most other nations have taken emergency measures to dramatically reduce domestic consumption, India has 60 days of crude oil, 60 days of natural gas and 45 days of LPG rolling stock. The foreign exchange reserves stand at a comfortable $703 billion,” the official statement said today.The ministers were, however, informed that India, the world’s third-largest oil refiner, was fully meeting domestic demand.“However, the nation is bearing a huge cost as international crude prices continue to remain at very high levels. Fuel conservation can help ease this burden. The PM’s appeal to the people for collective participation to help the country deal with global economic disruptions, supply chain challenges and rising prices caused by international conflicts has, thus, emphasised prudence in usage of petroleum products and reducing wasteful consumption, so that the fiscal burden on the nation is reduced in the present and into the future,” officials said.Oil marketing companies are currently incurring Rs 30,000 crore monthly losses in under recoveries on account of selling fuel at lower costs. Ministry officials also said there were no shortage at any level and the PM’s appeal was only meant to ensure efficient use of available resources.