Why Did PM Modi Advise Against Buying Gold and Using Less Oil? Know the Update” – Breaking News & Live Updates Today

New Delhi: On Sunday—just a day prior—PM Narendra Modi made a statement in Hyderabad, the capital of Telangana, that has sparked concerns regarding the potential weakening of India’s economy. While addressing a public gathering, PM Modi appealed to the public to help conserve foreign exchange.

New Delhi: On Sunday—just a day prior—PM Narendra Modi made a statement in Hyderabad, the capital of Telangana, that has sparked concerns regarding the potential weakening of India’s economy. While addressing a public gathering, PM Modi appealed to the public to help conserve foreign exchange reserves. To this end, he also outlined several measures.

During his address, he appealed to citizens to refrain from purchasing gold for a period of one year and to reduce their consumption of edible oils. He further urged people to minimize their usage of petrol and diesel, and to avoid buying gold and silver. He stated that, for the past two months—since the onset of the conflict—the Government of India has been making continuous efforts to shield the nation’s citizens from this crisis. He added, “However, to ensure that no undue burden falls upon the citizens, the government should shoulder the entire burden itself.

What did PM Modi say regarding gold purchases?

Referring to the global supply chain, PM Narendra Modi made a significant observation. He noted that if the crisis affecting supply chains persists, then no matter how many measures we implement, the difficulties will only continue to mount. Therefore, placing the nation’s interests above all else, we must now unite and fight this challenge together. He emphasized that patriotism is not solely defined by dying for one’s country; living for the country and diligently fulfilling one’s duties toward it are equally considered acts of patriotism.

PM Modi offers this advice to the public.

PM Narendra Modi pointed out that gold purchases represent another significant area where substantial foreign exchange is expended. He recalled that in times past, whenever the nation faced a crisis, people would voluntarily donate their gold in the national interest. He noted that while there is no need for such donations today, in the interest of the nation, we must collectively resolve that—regardless of any family functions or events taking place over the coming year—we will refrain from purchasing gold jewellery.

Congress objects to PM Modi’s advice.

Congress General Secretary KC Venugopal stated that three months have already elapsed since the outbreak of the conflict between Iran and the US, yet PM Modi still appears unable to formulate a strategy to ensure India’s energy security.

Writing further on ‘X’ (formerly Twitter), he described the situation as “utterly shameful, irresponsible, and completely unethical.” He criticized the Prime Minister for placing the burden of this global crisis upon the shoulders of ordinary citizens, rather than formulating an emergency plan to safeguard the nation’s economy.