What did PM Modi say about gold purchases, foreign travel and work-from-home?

Prime Minister Narendra Modi on Sunday urged Indians to curb non-essential foreign travel, postpone gold purchases and use public transport and electric vehicles to help conserve foreign exchange amid the ongoing West Asia conflict.

Addressing a public meeting in Hyderabad, Modi said India should revive COVID-era practices such as work-from-home, virtual meetings and video conferencing to reduce fuel consumption and imports.

"Use metros wherever metros are available. Use carpooling to go to places, and use the Railways if you have to transport goods," Modi said. "All of this will reduce dependency on petrol and diesel, and thereby cut the dependence on foreign currency."

The remarks come as state-owned fuel retailers Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp absorb steep losses by keeping retail prices of petrol, diesel and cooking gas unchanged despite a sharp rise in crude oil prices since the outbreak of war in the Middle East 10 weeks ago.

The three companies are incurring combined under-recoveries of ₹1,600-1,700 crore a day, reported PTI, citing two sources with direct knowledge of the matter. Total losses have exceeded ₹1 lakh crore over the period, the report said.

Petrol and diesel prices have remained at ₹94.77 rupees and₹ 87.67 rupees per litre, respectively, in New Delhi for about two years, even as crude oil prices have surged by around 50%.

Domestic cooking gas prices were raised in March, but remain below cost.

PM Modi said citizens should place the country's interests first during the current crisis.

"We have to take resolutions, keeping the country above all else," he said.

He urged the middle class to defer overseas vacations and destination weddings for at least a year and refrain from buying gold during festivals.

"The growing culture of weddings abroad, travelling abroad, and vacationing abroad is becoming prevalent among the middle class," Modi said. "We should postpone travelling abroad for at least a year."

The prime minister also renewed his call to cut cooking oil consumption by 10%, saying it would both save imports and improve household health.

Underlining his "vocal for local" campaign, Modi asked people to identify foreign-made products they use daily and switch to domestic alternatives where possible.

He also called for reduced use of chemical fertilisers and wider adoption of natural farming to boost self-reliance.