Modi, Shah asked retail investors to invest in depreciating market: Rahul Gandhi hints at major scam

This was Rahul Gandhi 's second Address to media after the opposition's uprising.

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Addressing a press conference on Thursday, Rahul Gandhi made a major accusation regarding the June 4 stock market decline. According to him, the PM Narendra Modi and Amit Shah informed the nation that the stock market is expanding quickly. The Home Minister stated unequivocally that on June 4, the stock market will advance. People ought to purchase.

Amit Shah Urges Stock Purchases Before June 4 Amid Market Volatility

Amit Shah advised investors to buy shares before June 4, anticipating significant market movements influenced by political developments. Exit polls were released on June 1, with the BJP's internal survey forecasting 220 seats. Intelligence reports also projected that the government would secure between 200 and 220 seats. On June 3, the stock market hit record highs, only to decline on June 4. Unusually high stock activity on May 31 indicated that some investors anticipated a market shift, leading to thousands of crores of rupees being invested. This resulted in a substantial market loss of 30 lakh crores, severely impacting retail investors and marking one of India's largest financial scams.

RaGa's Press Conference and Political Strategy

Congress leader Rahul Gandhi is scheduled to hold a press conference at the party headquarters at 5 pm. It is speculated that he may call on other parties to join in forming the central government. The Congress Working Committee (CWC) is set to convene at the party headquarters on June 8, led by Mallikarjun Kharge. It is anticipated that Kharge may be elected as the Leader of Opposition in the Lok Sabha during the Congress Parliamentary Party meeting.

Alliance meetings and coalition dynamics

On Wednesday, a meeting was held at Congress President Mallikarjun Kharge's residence, attended by 33 leaders from 19 parties. Kharge emphasized the ongoing struggle against fascist forces and committed to taking appropriate actions when necessary, criticizing the BJP government's policies. He highlighted the substantial support for their alliance, noting that the public has rejected BJP's policies.

The alliance has secured 234 seats in the Lok Sabha elections, needing 272 MPs to form a government. Discussions are ongoing about engaging with leaders like Chandrababu Naidu and Nitish Kumar, whose parties, TDP and JDU, have won 16 and 12 seats, respectively. This outreach is crucial for the alliance to achieve a majority and establish a new government.

Congress at Lok Sabha Elections 2024

The Congress is now eligible to hold the role of leader of the opposition in Parliament, having gained 99 seats on its own. Rahul Gandhi, who has remained mute thus far, is under increasing pressure to assume this role following his strong showing in the Lok Sabha elections. This was not possible in the last parliament since the grand old party did not have the necessary number of members.

For this reason, Adhir Ranjan Chowdhury was merely the Congress leader and not the leader of the opposition (LOP), a cabinet-rank position that involves participation in important choices such as the selection of the heads of the Central Bureau of Investigation and Enforcement Directorate.

RaGa leading the opposition in Lok Sabha?

Gandhi has received a lot of praise for the Congress's performance, which is why the INDIA bloc and the party are eager for him to take on this role. In an early Thursday post, senior leader Manickam Tagore stated: "I asked for votes in my boss Rahul Gandhi's name. He ought to be the Congress's leader in the Lok Sabha, in my opinion.