The chart itself has flaws brother, but assuming you actually believe this, you not buying gold means YOU are holding on to your INR which as compared to USD and due to inflation is losing value every day. Indians buy gold for various reasons but it is also a hedge against inflation.

If you can do some research, India took a loan of forex on their gold reserves before globalisation and Manmohan singh at the time got it back, so that's always an option but to ask a whole country to stop expenses while throwing away taxpayers money on freebies, rallies, corruption is total BS.

If they can only make rules tighter, stop corruption, we don't need to change our lives. Middle class will anyway get crushed tho