AICC’s Rajesh Kumar Sethi blames Modi Government for stock market crash

In a sharp criticism of the central government, Rajesh Kumar Sethi, National Coordinator of the Minority Department, All India Congress Committee (AICC), blamed the Modi Government’s policies for the recent stock market crash.

In a press statement, Sethi said, “The stock market has crashed once again, and the writing on the wall is clear — this is not an accident but the result of continued economic misgovernance by the Modi-Shah duo.” He alleged that the Indian economy had been turned into a speculative gamble favoring a few corporate cronies, leaving the vast majority of citizens to suffer.

Sethi recalled that Congress leader Rahul Gandhi had repeatedly warned the nation about the fragile state of the economy, the dangers of monopolistic capitalism, and the government’s alleged manipulation of systems to benefit a select few at the cost of the national interest. “Unfortunately, his warning has once again come true,” Sethi said.

Highlighting the Modi government’s “reckless” policies — from demonetization and “tax terrorism” to institutional weakening and “blind privatization” — Sethi asserted that these actions had eroded investor confidence and destabilized the country’s financial ecosystem.

Sethi also targeted Union Finance Minister Nirmala Sitharaman, criticizing her claims of India being the “fastest growing economy.” According to him, ground realities paint a starkly different picture, marked by vanishing jobs, shrinking MSMEs, collapsing investor confidence, and a volatile stock market plagued by poor regulation and a lack of transparency.

“Nirmala Sitharaman has not only failed to revive the economy but has repeatedly misled the nation with empty rhetoric, flawed statistics, and arrogant dismissals of legitimate concerns raised by the opposition and experts alike,” he said. Sethi further accused the Finance Minister of lacking vision, clarity, and seriousness in handling the economy.

Calling the stock market crash a symptom of a larger “crisis of trust” in the BJP-led government, Sethi stated that the administration was driven by propaganda rather than planning, and arrogance rather than accountability.

He concluded by emphasizing that India deserves a more inclusive, transparent, and stable economy. “The Congress Party, under the leadership of Rahul Gandhi, continues to stand for an economic model that empowers the many, not the few,” he said.

MT