Modi, Shah behind market crash, loss suffered by 5 crore families, JPC probe needed: Rahul Gandhi

From the Net

Coming down heavily on Prime Minister Narendra Modi and Union Home minister Amit Shah for allegedly misleading the investors through unsolicited advice which caused loss of around Rs 30 lakh crores to 5 crore families in just one day, Congress MP Rahul Gandhi has asked for a Joint Parliamentary Committee (JPC) probe into the alleged scam.

Addressing newsmen on Thursday, the former Congress president said “What is the connection between BJP, fake exit pollsters and dubious foreign investors who invested one day before the exit polls started pouring on TV screens and made a huge profit at the cost of 5 crore families?”

He slammed the duo, noting that they led to Rs 30 lakh crore loss through alleged stock market manipulation around exit polls.

“This has never happened before. The Prime Minister has never commented on the stock market before. This is the first time the Prime Minister has commented very interestingly and multiple times, one after the other, saying that the stock market is going to boom,” he added.

He said that the prime minister on May 19 had said in an interview that the stock market would break all records on June 4 while Union home minister had claimed in an interview that on June 4, the stock market would be on the rise and advised that all should invest. “What made the PM give unsolicited advice to investors when he was never an expert in the field? Why were both interviews given to the same media owned by the same business group which is also under SEBI investigation for manipulating stock?,” he added.

It may be mentioned that the stock market had rocketed on June 3, a day before results besides the exit polls from June 1 onwards had been making vociferous claims giving a thumping majority to BJP and NDA. This had made Sensex shoot over 2000 points in a single day on June 3 but on the next day, after beginning of counting of votes with BJP not faring well, market crashed like a pack of cards.

On May 23, PM had said that stock market would hit new highs after the Lok Sabha election results. ‘I can say with confidence that on June 4, as BJP hits record numbers, the stock market will also hit new record highs,” he had claimed with confidence.

Earlier on May 13, Union home minister Amit Shah had urged not to link the stock market movements directly to the ongoing Lok Sabha elections.“The market has nosedived in the past as well. So one should not link it directly to elections. Anyway, some rumours may have fuelled it (the fall). In my opinion, buy before June 4. The market is going to shoot-up,” the minister had told a TV Channel.

Rahul Gandhi alleged that PM Modi and Union home minister who had data on actual election results, advised retail investors to buy stock. “We are convinced that this was a major scam which deprived 500 crore families of their hard earned money and hence should be probed through a JPC,” added Gandhi



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