In a charged press conference held at the All India Congress Committee (AICC) headquarters, Congress leader Rahul Gandhi leveled serious allegations against the Bharatiya Janata Party (BJP), accusing its top leaders of manipulating the stock market for personal gain. Accompanied by senior Congress leaders KC Venugopal, Supriya Shrinate, and Pawan Khera, Gandhi demanded a Joint Parliamentary Committee (JPC) investigation into what he termed as a major financial scam.
Addressing the media, Rahul Gandhi highlighted unprecedented comments made by Prime Minister Narendra Modi, Union Home Minister Amit Shah, and Finance Minister Nirmala Sitharaman about the stock market during the election period. “For the first time, we noted that during the elections, the Prime Minister, the Union Home Minister, and the Finance Minister commented on the stock market,” Gandhi said. “The Prime Minister said that the stock market is rising at a great speed. The Union Home Minister said that on June 4, the stock market will be on the rise and you all should invest, and similar statements were made by the Finance Minister.”
#WATCH | Congress leader Rahul Gandhi says, “Why did the PM and Union Home Minister give specific investment advice to the five crore families investing in the stock market? Is it their job to give investment advice? Why were both interviews given to the same media owned by the… pic.twitter.com/xyAayIxdXL
— ANI (@ANI) June 6, 2024
Gandhi pointed out specific instances where BJP leaders made investment recommendations. “Amit Shah says buy shares before June 4. On May 19, PM Modi says the stock market will break records on June 4,” he said, questioning the propriety and intentions behind such advice.
The Congress leader raised concerns about the unusual timing and nature of these statements, suggesting that they were aimed at benefiting a select few at the expense of millions of retail investors. “Why did the PM and Union Home Minister give specific investment advice to the five crore families investing in the stock market? Is it their job to give investment advice?” Gandhi questioned. “Why were both interviews given to the same media owned by the same business group, which is also under SEBI investigation for manipulating stock?”
Gandhi alleged a nexus between the BJP, fake exit pollsters, and dubious foreign investors. He claimed that these investors made significant profits by buying stocks just before the exit polls were announced, a move that disadvantaged ordinary Indian investors. “What is the connection between the BJP, the fake exit pollsters, and the dubious foreign investors who invested one day before the exit polls were announced and made a huge profit at the cost of five crore salaries?” Gandhi asked. “We demand a JPC into this. We are convinced that this is a scam.”
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Rahul Gandhi asserted that the Prime Minister and the Union Home Minister’s comments were not mere economic predictions but deliberate signals meant to influence the market. “Somebody has made thousands of crores of rupees at the cost of Indian retail investors, and the Prime Minister and the Union Home Minister have given an indication to buy,” he alleged.
The Congress party has called for a Joint Parliamentary Committee to investigate the matter thoroughly, emphasizing the need for accountability and transparency. “We demand today a joint parliamentary committee to investigate this,” Gandhi declared, underscoring the gravity of the allegations.
The press conference, attended by prominent Congress leaders, underscores the party’s aggressive stance on the issue. KC Venugopal, Supriya Shrinate, and Pawan Khera supported Gandhi’s call for a JPC, echoing concerns about potential financial misconduct and the erosion of trust in India’s financial markets.
As the allegations unfold, the BJP and its leaders are expected to face increased scrutiny. The demand for a JPC marks a significant escalation in political tensions, highlighting the contentious intersection of politics and finance in India’s electoral landscape. The outcome of this demand, and any subsequent investigation, could have far-reaching implications for the Modi government and the country’s investment climate.
