BENGALURU: Due to the Middle East conflict, India is facing an energy crisis. Along with this, the economic blow to several sectors is also increasing day by day. Now, economic experts have suggested shifting schools and colleges across the country to online mode for a short term.
The Middle East war is impacting India’s economy. Amid the global turbulence, Prime Minister Narendra Modi has chanted the mantra of austerity to tackle the shock of price rise. Following this, economists in Bengaluru have advised how to avoid fuel shortages and escape the economic blow. They have suggested conducting online classes nationwide, from nursery to higher education.
In India, the number of teachers and lecturers from primary to higher education is 1.25 crore. The number of students runs into crores. If online classes are held across the country, fuel consumption due to vehicle movement will reduce. The economic burden, including fuel used for transportation, will also decrease.
Economic expert Dr S R Keshav opined that this process can be carried out for a short period. Speaking to Public TV, he said, “Fuel prices will definitely increase and there is no alternative. Oil companies have taken a revenue hit of Rs 32,000 crore per month and we have not raised prices in the last three months. Fuel prices are likely to rise by Rs 10-15 per litre in stage”.
“The central government took an excise duty cut, otherwise the impact on oil companies would have doubled. Fuel price rise will impact the prices of all other items. People should limit unnecessary transporta and opt for public transport. Offices and educational institutions can also stagger work hours to reduce the burden on public transport”, he added.
Benefits of online classes to reduce economic burden
- If online classes are held, school and college bus operations across the country will stop.
- This can save lakhs of litres of petrol and diesel.
- Fuel consumption for teachers’ vehicles will also reduce.
- The number of vehicles on the road will decline.
- This can somewhat reduce the shortage of petrol and diesel.
Economists calculate that if this idea continues for a short term, oil shortages can be brought under control. It will be even more beneficial if this is extended to corporate companies as well, they felt.
After Prime Minister Modi appealed to prioritize work from home like during the Covid period, questions have emerged about whether this signals a looming oil shortage in the country. The Middle East conflict has completed 90 days. If it continues, the country’s economic condition will take a further hit. Therefore, economic experts are offering suggestions on what we should do for the crucial days ahead.
