BJP Counters Rahul Gandhi’s Market Scam Charge With India’s ‘5th Largest Economy’, Says ‘Investors Benefited Most’
BJP dismissed Rahul Gandhi's 'biggest stock market scam' allegations, saying that its his inability to accept the loss' in the general election.
‘Markets Scam’ Charge: Congress leader Rahul Gandhi’s ‘biggest stock market scam’ allegations against the BJP have made headlines, and now the saffron party has hit back at the Congress leader. BJP leader Piyush Goyal on Thursday slammed Gandhi’s allegations, stating that he is making such remarks because he is unable to handle INDIA’s loss in the recently completed general elections.
What Was Rahul Gandhi’s Allegation
Recently, the congress leader alleged that the comments made by Prime Minister Narendra Modi and other BJP ministers led a drastic surge in the stock market ahead of the counting. Subsequently, the stock market crashed after Lok Sabha election results, causing huge losses for investors. Gandhi termed it “biggest stock market scam,” Gandhi called for an investigation.
BJP’s Response On The Allegation
Responding to the allegation, Piyush Goyal said, “It seems like Rahul Gandhi has not overcome the defeat of the opposition in the Lok Sabha elections. Now, he is trying to deceive market investors. Today, India has become the fifth-largest economy in the world. The whole world accepts that it is the fastest-growing economy in the world. PM Modi has assured the nation that in this term, India will become the third-largest economy”.
The minister noted, after the exit polls, investors of other countries bought stocks at high rates while investors of the country sold and booked profits.
Goyal accused Rahul Gandhi of “hatching a conspiracy to mislead investors
“From Rs 67 lakh core during the UPA government, India’s market cap surged to Rs 415 lakh cr; domestic and retail investors benefited most,” he said further.
Goyal claimed that the stock market achieved robust growth under the saffron government, “In the last 10 years of Modi Govt, for the first time our market cap has crossed over 5 trillion dollars. Today, India’s equity market has entered the market cap of the top 5 economies of the world…We know that the market cap of PSUs listed in the market has increased 4 times under the Modi Govt…”
The 3rd of June brought the awaited Lok Sabha election results, hinting at a probable coalition government’s formation at the national stage. This outcome led to a rather disturbing stir in the stock market. It plummeted almost 6%, marking its biggest slump in four years.
What's Your Reaction?
