
PM Modi Urges Indians to Conserve Fuel, Pause Gold Buying
Prime Minister Modi has urged Indian citizens to conserve fuel and avoid buying gold for a year, citing a global crisis marked by an energy shock and dipping foreign exchange reserves. These calls for austerity are aimed at addressing India's economic challenges and have drawn political commentary.
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Modi’s Frugality Warning Flags Twin Shock for India - Bloomberg.com
Modi’s Frugality Warning Flags Twin Shock for India Bloomberg.com
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Under pressure from the economic fallout of the war in Iran and politically emboldened, Prime Minister Narendra Modi asks Indians to sacrifice.
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Narendra #Modi's message to Indians is clear: stop buying gold jewellery for a year. With #India having to pay more to import #oil due to the #Iranwar, its prime minister hopes that holding off on buying the precious metal will protect the country's trade balance - a decision that could badly hit a nearly $100 billion industry.
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Read full article →Modi Urges Indians To Conserve Fuel As Oil Shock Spreads
Modi Urges Indians To Conserve Fuel As Oil Shock Spreads India’s Prime Minister called on the nation to work from home, travel less, and conserve fuel to help the government save foreign exchange, OilPrice reported. “In the current situation, we must place great emphasis on saving foreign exchange,” Narendra Modi said, as quoted by Reuters. The prime minister also urged Indians to stop buying gold, again to conserve foreign exchange. Modi also called on farmers to reduce their f...
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