Indian Opposition Leader Demands Investigation into Stock Market Crash Accusations

Indian opposition leader Rahul Gandhi has sparked controversy by demanding an investigation into a stock market crash that occurred at the end of the general election in India. Gandhi, from the Congress party, has accused top Bharatiya Janata Party (BJP) leaders, including Prime Minister Narendra Modi, of giving misleading financial advice that led to investors losing money.

Gandhi alleged that Modi and other BJP leaders had advised people to buy stocks before the election results were announced on 4 June, claiming that the market would surge after the BJP’s expected victory. However, when the results were different from what was predicted by exit polls, the stock market crashed, causing billions of dollars in investments to be wiped out.

The BJP has denied these allegations, with departing trade minister Piyush Goyal stating that Indian investors actually benefited from the rise and fall in stock prices, as they were able to buy low and sell high. However, Gandhi has labeled the incident as “the biggest scam” in India’s stock market history, alleging that certain “dubious foreign investors” benefited from the manipulation.

The controversy has escalated with Congress leader Jairam Ramesh calling Goyal’s explanation “rubbish” and demanding specific answers to the questions raised by Gandhi. The BJP has not responded to these latest allegations, leaving the situation tense and uncertain.

As the investigation unfolds, the Indian public eagerly awaits the outcome of this high-stakes political and financial drama.