From Indira Gandhi To Modi: Why Indian Govts Ask Citizens To Reduce Gold Consumption During Crises
Prime Minister Narendra Modi’s recent appeal to reduce gold purchases, save fuel and avoid unnecessary foreign travel has sparked political reactions and economic debate across the country. However, similar appeals have been made by previous governments during periods of global uncertainty and economic stress.This explainer examines how leaders including Indira Gandhi, P V Narasimha Rao, Manmohan Singh and P Chidambaram urged restraint during foreign exchange crises, oil shocks and widening current account deficits. The report also explores why gold and fuel consumption often become strategic economic concerns for India during periods of global instability.
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