Modi and Amit Involved in Stock Market Scandal
Rahul Gandhi, a prominent leader of India's main opposition party, the Congress, has accused BJP leaders of involvement in the recent significant crash in the stock market. He claims that Prime Minister Narendra Modi and Home Minister Amit Shah had advised people to invest in the stock market during the Lok Sabha election campaign, leading to massive losses for retail investors.
At a press conference on Thursday, June 6, two days after the Lok Sabha election results were announced, Gandhi made these allegations.
According to Gandhi, Narendra Modi had predicted on Tuesday, June 4, that the stock market would reach record levels and Amit Shah had also encouraged investment. However, contrary to Modi's prediction, the market experienced a significant crash on June 4.
Indian media sources reported a substantial increase in market investments on May 30 and 31 compared to previous days. Gandhi claims that the top leadership of the BJP was aware of the party's poor electoral performance and those in the know invested heavily during this period, including foreign investors.
Gandhi noted that on Monday, June 3, the stock market had broken all previous records, but the index plummeted the following day after the election results were announced, resulting in a loss of 3 trillion rupees for retail investors.
Calling this the biggest scandal in India's stock market history, Gandhi stated, "We have no doubt that this is a financial scandal. Five crore Indian retail investors suffered losses while others made thousands of crores in profit. The Prime Minister and the Home Minister had signaled people to buy shares."
"For the first time, I saw the Prime Minister and Home Minister talking about investing in the stock market. But why did they advise five crore investors to buy shares? Offering investment advice is not their job," Gandhi added.
Asserting that this is a criminal offense, the Congress leader demanded, "We are calling for a joint parliamentary committee to investigate this incident."
