India, May 11 -- A day after Prime Minister Narendra Modi urged Indians to save fuel, avoid gold purchases and work from home, the government held a formal ministerial meeting on the West Asia crisis and stated that there is no shortage of any petroleum product in the country.

It noted, however, that the public-sector oil marketing companies are absorbing losses of nearly Rs.1,000 crore a day to keep pump prices from rising even as crude prices spike.

Defence minister Rajnath Singh chaired the fifth meeting of the Informal Group of Ministers (IGoM) on West Asia on Monday, attended by the ministers of petroleum, railways, civil aviation, fertilisers, ports and science. The meeting's key message, as per a government press release, was tha...