New Delhi [India], October 17 : Congress leader Pawan Khera criticised the Narendra Modi-led government over reported restrictions on fresh investments in certain gold and gold-silver mutual fund schemes. He questioned the government’s economic policies ahead of Diwali and Dhanteras, traditionally considered auspicious occasions for gold purchases in India.
In a post on X, Khera referred to the BJP’s promise of “Achchhe Din” and alleged that the government’s policies were placing restrictions on gold purchases during one of the country’s biggest festive buying periods.
“Modi promised Achchhe Din — prosperity and progress. But just look at the prosperity he has delivered this Diwali and Dhanteras!” Khera wrote.
https://x.com/Pawankhera/status/2111369133103403459?s=20
The Congress leader cited three developments in his criticism: the Prime Minister’s reported advice to Indians against buying gold, an increase in import duties on gold aimed at discouraging purchases, and reported restrictions on fresh investments in specified Gold and Gold-Silver Funds of Funds following directions from the Securities and Exchange Board of India (SEBI).
Khera’s remarks followed a post by Manoj Arora discussing the reported restrictions on gold funds and explaining their potential implications for investors.
According to the information cited in the posts, SEBI reportedly directed mutual fund asset management companies (AMCs) to temporarily halt fresh lump-sum investments, switch-ins and new systematic investment plan (SIP) registrations in certain Gold Funds of Funds, including gold-silver funds, with effect from October 16.
Reacting to the reported measures, Khera questioned the timing of the restrictions, arguing that they came during the festive period when demand for gold traditionally rises.
“Such are the Achchhe Din that the government now has to clamp down on gold purchases — during the biggest gold-buying festival of the year!” he said.
Taking a further swipe at the government’s economic record, Khera described the situation as a “spectacularly disastrous achievement” and sarcastically suggested that Prime Minister Narendra Modi deserved special recognition for it.
He concluded his post by questioning the government’s economic promises, writing, “Achchhe Din? No. A trailer for an impending economic disaster.”