PM Urges Austerity Measures to Curb Imports and Strengthen Economy
May 12, 2026 10:42 AM IST

PM Urges Austerity Measures to Curb Imports and Strengthen Economy

Desk Correspondent , New Delhi - Prime Minister Narendra Modi has called on citizens to adopt a year of financial discipline by refraining from purchasing gold and reducing the use of petrol and diesel. During a recent address, the Prime Minister emphasized that these measures are essential to curb the nation’s rising import bill and stabilize the economy. By shifting toward a "Work From Home" (WFH) model where possible, the government aims to drastically cut fuel consumption, thereby preserving foreign exchange reserves and fostering domestic self-reliance.

The appeal comes amid growing concerns over India’s trade deficit, largely driven by the high demand for precious metals and energy imports. The Prime Minister noted that gold, often viewed as a safe-haven investment by Indian households, contributes significantly to capital outflow. By pausing these purchases for twelve months and opting for digital or alternate investment avenues, the administration believes the redirected capital can be utilized for national infrastructure and developmental projects.

Furthermore, the push for continued remote work is intended to alleviate the logistical pressure on transportation sectors and reduce the environmental impact of daily commutes. This multi-pronged strategy seeks to engage the public in a collective effort to bolster the rupee and ensure long-term economic resilience. While the suggestions are voluntary, the government expects that widespread adoption of these austerity practices will provide the necessary cushion to navigate current global economic uncertainties.

TV 19 Network NEWS FEED

Iran, US and Oman ‘close’ to Hormuz deal: What each side wants

Iran, US and Oman ‘close’ to Hormuz deal: What eac...

Iran, Oman and the U.S. are reportedly close to a Strait of Hormuz agreement tha...

Iran Retaliates After U.S. Airstrikes Kill 14, Khamenei Burial Delayed

Iran Retaliates After U.S. Airstrikes Kill 14, Kha...

Fresh U.S. airstrikes in Iran reportedly killed 14 people, prompting Iranian ret...

Trump says he’s Iran’s No. 1 target after Air Force One blinds were shut

Trump says he’s Iran’s No. 1 target after Air Forc...

President Donald Trump claimed he is Iran’s “No. 1 target” after security measur...

West Asia war : Three killed in U.S. strikes in western Iran

West Asia war : Three killed in U.S. strikes in we...

Three people were killed in U.S. strikes in western Iran as tensions escalated f...

Trump says Iran ceasefire is over

Trump says Iran ceasefire is over

President Donald Trump said the Iran ceasefire is “over” following fresh U.S. st...