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India’s $72B Gold & Fuel Crisis: Amitabh Kant Backs PM Modi’s Austerity Warning To Citizens!

India’s $72B Gold & Fuel Crisis: Amitabh Kant Backs PM Modi’s Austerity Warning To Citizens!

Business Today
Business Today
  • New Delhi,
  • May 12, 2026,
  • Updated May 12, 2026, 3:10 PM IST

In an exclusive conversation with Rajdeep Sardesai, former G20 Sherpa Amitabh Kant delivered a stark reality check on India's energy security and the urgent need for "national discipline" amidst the 2026 West Asia crisis. Addressing the fallout from the blockade of the Strait of Hormuz, Kant backed PM Modi’s austerity measures, including the controversial PM-PRANAM scheme to slash chemical fertilizer use by 50%. While acknowledging that natural farming isn't an "overnight" fix, Kant warned that without immediate cuts to fuel, fertilizer, and edible oil subsidies, India remains structurally vulnerable to global inflation and supply shocks.

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