Ministry Officials Pledge Year-Long Gold Buying Moratorium in Austerity Drive

Officials in agriculture and rural development ministries support the Prime Minister's austerity measures by refraining from gold purchases for a year, fostering frugality and resource conservation. The decision, stemming from rising import costs, includes other savings strategies like carpooling, virtual conferences, and promoting natural farming.

In response to Prime Minister Narendra Modi's call for austerity amid rising import costs, officials in the agriculture and rural development ministries have pledged not to purchase gold for a year, except for special occasions such as weddings. This decision is voluntary, aiming to save foreign exchange amid global supply chain disruptions.

Union Agriculture Minister Shivraj Singh Chouhan highlighted the need for resource conservation and self-reliance. Measures include reducing petrol and diesel usage, promoting carpooling, expanding work-from-home opportunities, and utilizing virtual meetings. The import duty on gold and silver has been increased to 15% to curb non-essential purchases.

The Agriculture Department and Indian Council of Agricultural Research will launch a 'Save the Farm Campaign,' promoting balanced fertilizer use through soil analysis and natural farming practices. A special campaign for public awareness on edible oil consumption will also be initiated, along with energy conservation measures within government offices.