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New Delhi: The results of the Lok Sabha elections have been declared. The BJP-led NDA is preparing to form the government and has decided to sit in opposition to the Congress-led All India Alliance. Amidst all these developments, on Thursday, Congress leader Rahul Gandhi accused PM Narendra Modi, Home Minister Amit Shah and Finance Minister Nirmala Sitharaman of the Rs 30 lakh crore scam in the stock market on the day of the election results and demanded an investigation. With this, the Congress has already given indications of the opposition's tough stand in the new government.
Congress leader Rahul Gandhi on Thursday targeted PM Modi, Home Minister Amit Shah and Nirmala Sitharaman for advising investors to invest in the stock market during the Lok Sabha election campaign. He questioned why PM Modi and Home Minister Amit Shah advised people to invest. This entire incident is a big scam and it should be investigated by JPC.
Rahul Gandhi said that for the first time we saw that during the elections the Prime Minister, Home Minister and Finance Minister commented on the stock market. The Prime Minister said two-four times that the stock market will rise. The Home Minister also directly said that the stock market will go up on June 4, so shares should be bought. The Finance Minister also gave the same message. Rahul Gandhi also raised questions on the exit polls that came out after the Lok Sabha elections and said that on June 1, the media had published wrong exit polls. In the BJP survey, it was getting 220 seats. Before the results of the Lok Sabha elections came on June 3, the stock market broke all records on the basis of exit polls. But on June 4, there is a record rise in the stock market. The result was that on June 4, the common people of the country made purchases worth Rs 200. There was a loss of 30 lakh crores.
Rahul Gandhi questioned why the Prime Minister and the Home Minister gave special investment advice to five crore people who have invested in the stock market? Is it their job to give investment advice to people? Why were both the interviews given to the same Adani Group-run media house NDTV? NDTV is owned by the Adani Group, which is also being investigated by SEBI for stock market manipulation. Moreover, what is the connection between the BJP, the fake exit polls and the dubious foreign investors who invested a day before the exit polls were announced and made huge profits at the expense of five crore families? We call this entire scenario a big stock market scam.
BJP also knew that the exit polls were wrong and it would not get a majority. However, they advised retail investors to buy stocks. The result was that the people of the country had to pay Rs 500. There was a loss of Rs 30 lakh crore and a select few people gained thousands of crores of rupees. Therefore, we demand an investigation against Narendra Modi, Amit Shah, those conducting the exit polls and foreign investors.
Rahul Gandhi said, this is a bigger issue than the Adani issue. This is an issue directly related to the Prime Minister and the Home Minister, who have access to the data of the actual election results. They have IB reports, their own data and they are advising retail investors to buy stocks. This is very interesting. Never before has a Prime Minister advised people to invest in the stock market. This is happening for the first time.
Meanwhile, Piyush Goyal has hit back at Rahul Gandhi and said that Congress leaders are trying to mislead the country's investors by holding press conferences. As soon as the formation of Modi government at the center for the third consecutive time was confirmed, the stock market has jumped. Today, a historic rise has been registered in the stock market under the Modi government, which is benefiting the common investors. The number of Indian investors in the stock market has increased. 10 years ago, during the UPA government, the market cap of the country's stock market was Rs 10 lakh. Which has increased to Rs 67 lakh crore today. That is, Rs 415 lakh crore. Showing an increase of Rs 348 lakh crore.
– Rs 13.79 lakh crore on June 3, Rs 31.07 lakh crore on June 4
– First Home Minister on May 14, then on May 20 Modi advised to invest in shares
New Delhi: During the Lok Sabha election campaign in the country, first Home Minister Amit Shah, then Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman claimed the return of the NDA government and advised investors to invest in the stock market. The exit polls also predicted a huge victory for the Modi government, but the results on June 4 turned out to be completely opposite, which caused panic in the stock market and investors suffered a loss of Rs. 31 lakh crore.
During the campaign for the Lok Sabha elections in the country, Amit Shah had first said in an interview on May 14 that the stock market will see a record jump when the results are announced on June 4. He said that when a stable government comes to power in the country, the market booms. Modi government will be formed for the third consecutive time, so the market will see a continuous boom. After this, in an interview on May 20, PM Modi had expressed hope of a boom in the stock market after June 4.
Most exit polls have predicted a landslide victory for the PM Modi-led NDA government. The stock market opened with a huge jump on Monday, June 3, after the prediction of the NDA government being formed for the third consecutive time. On this day, the Sensex closed at 76,468.78 after touching a high of 76,738.89 with a jump of 2507.47 points. Like the Sensex, the NSE's Nifty50 also rose 733 points to a new record level of 23,264.
However, the election results were announced the next morning on June 4, in which Modi government was expected to win by less than the exit polls and India Alliance was expected to win by a huge margin. As a result, the market fell by 6,000 points as soon as the stock market opened. At the end of trading, Sensex rose by 4390 points and Nifty rose by a historic 1379 points. As a result, investors lost Rs. 31.07 lakh crore in a single day.
