Rahul Gandhi’s 'chronology' of June 4 market crash, targets PM, seeks probe

Calling it the "biggest stock market scam", Rahul Gandhi questioned why top BJP leaders, including Prime Minister Narendra Modi, gave investment advice to people just days before election results were to be announced.
Rahul Gandhi’s 'chronology' of June 4 market crash, targets PM, seeks probe
Jaano Junction

Congress leader Rahul Gandhi on Thursday hurled some serious allegations against Prime Minister Narendra Modi, seeking a Joint Parliamentary Committee (JPC) investigation into what he called the "biggest stock market scam".

Addressing a press conference, the former Congress President also questioned why top BJP leaders, including Prime Minister Narendra Modi, Union Home Minister Amit Shah and Finance Minister Nirmala Sitharaman, made comments about the stock market just days before the announcement of election results.

Also Read
Maldives President Mohammad Muizzu invited to Narendra Modi's swearing-in as PM
Rahul Gandhi’s 'chronology' of June 4 market crash, targets PM, seeks probe

"For the first time we noted that during the elections, the Prime Minister, the Union Home Minister and the Finance Minister commented on the stock market," Rahul Gandhi said.

"PM Modi said that the stock market is rising at a great speed. The Union Home Minister said that on June 4 the stock market will be on the rise, and you should all invest. A similar claim was made by the Finance Minister. Amit Shah says buy shares before June 4. On May 19, PM Modi says the stock market will break records on June 4," he pointed out.

Rahul Gandhi's allegations came days after equity investors suffered a massive loss of Rs 31 lakh crore as markets went into a tailspin with the BSE Sensex tumbling nearly 6 per cent as vote counting trends showed the BJP not getting an absolute majority in Lok Sabha elections.

Here's the chronology Rahul Gandhi explained in this press conference:

  • May 13: Amit Shah asks people to buy shares before June 4

  • May 19: PM Modi said "stock markets will break records on June 4"

  • June 1: Last phase of polling, after which media releases exit polls

  • June 3: Stock market breaks record and reaches an all-time high

  • June 4: Biggest stock market crash. Investors, especially small ones, lose Rs 30 lakh crore.

The Gandhi scion further said that the internal official survey of the BJP projected 220 seats for them.

"Intel agencies had told the government that they will get 200-220 seats. The stock market breaks all records on June 3, and on June 4, the market goes underground," he claimed.

"Why did the PM and Union Home Minister give specific investment advice to the five crore families investing in the stock market? Is it their job to give investment advice?" Gandhi asked.

Further in his presser, the Congress leader also wondered why both PM Modi and Amit Shah gave interviews to a news channel, which he said, is owned by the same business group which is under SEBI investigation for manipulating stocks.

"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 asked.

Rahul Gandhi sternly demanded a parliamentary investigation into the June 4 market crash claiming that somebody has made thousands of cores on the indications give by Prime Minister and other BJP leaders.

"We demand a JPC into this. We are convinced that this is a scam. Somebody has made thousands of crores of rupees at the cost of Indian retail investors and the Prime Minister and the Union Home Minister have given an indication to buy. So we demand today a joint parliamentary committee to investigate this," Rahul Gandhi added.

Source: India Today

Stay connected to Jaano Junction on Instagram, Facebook, YouTube, Twitter and Koo. Listen to our Podcast on Spotify or Apple Podcasts.

Jaano Junction