“Rahul Gandhi is hatching a conspiracy…”: Bharatiya Janata Party on Conglomerate’s “Stock Market Scam” allegations | Latest News India

The Bharatiya Janata Party on Thursday hit back at accusations made against Indian National Congress leader Rahul Gandhi of a “stock market scam”. “Rahul Gandhi is yet to recover from his defeat in the Lok Sabha elections. Now he is plotting to mislead investors in the market. Today, India is the fifth largest economy in the world,” Bharatiya Janata Party leader Piyush Goyal said at a press conference.

“In the last 10 years of the Modi government, for the first time, the market capitalisation has crossed the $5 trillion mark. Today, Indian stock market has joined the market capitalisation of the top five economies of the world… We see that the market capitalisation of state-run companies listed in the market has increased four-fold under the Modi government,” said Goyal, who won the Indian Lok Sabha elections from north Mumbai. The BJP’s reaction comes after Rahul Gandhi alleged a stock market scam and accused Prime Minister Narendra Modi and Home Minister Amit Shah of being “directly” involved in it. “Why did the Prime Minister and the Home Minister give specific investment advice to 50 million families who are investing in the stock market? Isn’t it their job to give investment advice? Why were both the interviews given to the same media outlet owned by the same business group, which is also under investigation by SEBI for stock price manipulation,” Gandhi said at an evening press conference. Continuing his attack on the Congress, Goyal said, “Ten years ago when the UPA government was in power, India’s market capitalisation at that time was 100%. ₹6.7 million crores…Today, the market capitalization is ₹415 lakh crores”. On May 23, PM Modi had said, “I can confidently say that if the BJP hits record numbers on June 4, the stock market will also hit new highs.” Meanwhile, Home Minister Shah had said, “Markets have fallen sharply in the past too. So, this should not be directly linked to the elections. In any case, some rumours may have fuelled it (the fall). In my opinion, buy before June 4. The market will soar.”