New Delhi/IBNS, May 12 -- Prime Minister Narendra Modi's recent appeal urging people to refrain from buying gold as part of austerity measures amid the escalating West Asia conflict has triggered a sense of deja vu for many Indians.

Modi's remarks reminded many of former Prime Minister Indira Gandhi's similar appeal made nearly six decades ago.

In 1967, Indira Gandhi had urged citizens not to purchase gold "in any form" and to embrace "national discipline" as India grappled with severe pressure on foreign exchange reserves.

At the time, India was facing an acute foreign exchange shortage along with rising import burdens and economic instability.

A similar appeal resurfaced in 2013 during the Congress-led UPA government when then Finan...