New Delhi, June 7—Bharatiya Janata Party (BJP) leader Nitesh Rane has strongly refuted Congress leader Rahul Gandhi’s allegations of involvement in a stock market scam by Prime Minister Narendra Modi and Union Home Minister Amit Shah. Rane accused Gandhi of lacking the moral authority to make such claims, citing the ongoing National Herald case in which members of Gandhi’s family are out on bail for corruption charges.
“The family of Rahul Gandhi is out on bail on corruption charges in the National Herald case… Rahul Gandhi has no moral right to level corruption charges against someone,” Rane told ANI. He further criticized Gandhi and the Congress party for their history with scams and corruption, urging Gandhi to present concrete evidence to support his accusations.
Gandhi’s allegations, made on Thursday, suggested that Modi and Shah provided misleading “investment advice” during the Lok Sabha election campaign, resulting in significant losses for retail investors due to “fake exit polls.” He called for a Joint Parliamentary Committee (JPC) to investigate what he termed the “biggest stock market scam.”
On the day of the Lok Sabha results announcement, Indian stocks experienced a dramatic decline. The Sensex fell by 4,389.73 points and the Nifty by 1,379.40 points, attributed to BJP’s underperformance compared to exit poll predictions and failing to achieve a majority on its own. Although much of the losses were recovered in subsequent trading sessions, the market turbulence highlighted investor concerns.
The Election Commission of India reported that the BJP secured 240 seats, a notable decrease from their 2019 tally of 303. The Congress improved its standing, winning 99 seats. The BJP-led National Democratic Alliance (NDA) won a total of 292 seats, while the opposition INDIA bloc gained over 230 seats, challenging the pre-election forecasts.
