Prime Minister Narendra Modi has appealed to Indians to avoid buying gold and postpone foreign vacations to help save foreign exchange reserves. But why is the government suddenly worried about gold imports? In this episode of Kharcha Paani, we explain how India’s massive gold imports affect the current account deficit, forex reserves, the value of the rupee, inflation, and the overall economy. From crude oil prices and dollar demand to imported inflation and RBI’s gold strategy, we break down the complete economics behind PM Modi’s message in the simplest way. Is India facing pressure similar to 2013? Can rising gold and oil imports weaken the rupee further? Watch the full episode to understand the real story behind India’s gold obsession and the economy.
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