The Bharatiya Janata Party (BJP) MP from Mumbai North Lok Sabha seat, Piyush Goyal, on Thursday hit back at Congress MP Rahul Gandhi for seeking a probe into the June 4 market crash, wherein investors lost up to ₹30 lakh crore. Goyal termed Rahul Gandhi’s claim as ‘baseless’ and alleged that the Congress leader was ‘hatching a conspiracy’.
Congress leader Rahul Gandhi alleged that Narendra Modi and Amit Shah were “directly involved” in the “biggest stock market scam”. Gandhi also demanded a Joint Parliamentary Committee (JPC) probe into it.
The BJP leader also dismissed as “baseless” Gandhi’s demand for a JPC probe into the matter, saying he keeps making useless comments. Piyush Goyal said, “It is baseless”.
“Rahul Gandhi is hatching a conspiracy to mislead investors out of frustration following the Opposition’s defeat,” he said.
Goyal said the ₹30 lakh crore figure highlighted by Gandhi was a notional amount and did not pertain to trading.
“He (Gandhi) does not understand. That is why people of India do not trust him,” Goyal said, citing the big rise in stock market under the BJP government to assert that retail and domestic investors benefitted the most.
“I think Rahul Gandhi should be concerned about the fear of investors as the market crashed when the Congress was doing better than expected. Now, people are confident that the Modi government is coming back, and the market has stabilised and is reclaiming its previous highs,” he said.
The trading value was around ₹6,840 crore, Goyal said and added that when the Congress was seen gaining seats on the day of the Lok Sabha poll result on June 4, it fell.
Questioned about the comments of Prime Minister Modi and Shah on the stock market movement, Goyal said every party makes claims about its success and the Congress also did so.
The predictions from Saturday’s exit polls triggered a surge in the stock markets on June 3. The NSE Nifty 50 and S&P BSE Sensex soared by 3.3 per cent and 3.4 per cent, respectively, just a day before the Election Commission began tallying votes and announcing results.
Modi and several BJP ministers had confidently proclaimed that the markets would skyrocket upon the announcement of results on June 4. Amit Shah even advised in a televised interview,”buy before June 4, they will shoot up”.
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Published: 06 Jun 2024, 09:12 PM IST
