Pune: Nationalist Congress Party (Sharad Pawar faction) chief Sharad Pawar on Tuesday expressed concern that Prime Minister Narendra Modi's recent appeal for judicious use of resources has created unease among investors and citizens, potentially having long-lasting impacts. Pawar urged the Prime Minister to convene an all-party meeting to discuss the state of the economy.
Background of the appeal
On Sunday, PM Modi appealed to citizens to curb fuel and gold purchases and take other measures to conserve foreign exchange reserves amid global disruptions caused by the war in West Asia. The appeal was aimed at reducing the country's import bill and strengthening the rupee.
Pawar's response
Taking to X (formerly Twitter) on Tuesday, Pawar called Modi's statement "sudden" and claimed it has created unease among ordinary citizens and investors in the industry and business sector. "This situation is certainly a cause for concern," he wrote. He emphasized the need for an all-party meeting, stating, "It is essential for the welfare of the country to involve members from all parties in the decision-making process on issues which are of national interest."
Opposition parties have criticized Modi and the central government following his appeal, alleging that the country is facing an economic crisis due to government mismanagement. Amid the criticism, Pawar advised the central government to seek broad consultations.
"The Prime Minister should immediately call a meeting with renowned economic experts in the country, representatives from the industry sector and relevant specialists to review the current situation," Pawar said. He added that building confidence among common people should be the topmost priority of the government under the current circumstances.
Pawar's remarks come at a time when the Indian economy is facing headwinds from global factors, including rising crude oil prices and geopolitical tensions. The government has been taking steps to stabilize the economy, but opposition parties argue that more inclusive decision-making is needed.
