In a scathing critique on X, Amit Malviya, head of the BJP’s National Information & Technology Department, launched a sharp attack on Congress leader Rahul Gandhi, accusing him of spreading baseless fears about the Indian stock market. Malviya alleged that Gandhi’s statements are rooted in fear and hypocrisy, revealing his discomfort with ordinary Indians achieving financial prosperity under Prime Minister Narendra Modi’s leadership.
Rahul Gandhi is indulging in fear-mongering about the markets because he and his ‘Balak Buddhi' cabal are scared that Indians are making legitimate money and rising out of poverty.
Rahul Gandhi just can’t handle the sight of ordinary Indians getting rich, so he is resorting to… https://t.co/H5QmOa3mnk pic.twitter.com/7w7ZxBfn0H
— Amit Malviya (@amitmalviya) November 19, 2024
Rahul Gandhi recently questioned the integrity and stability of the Indian stock market, but Malviya dismissed these remarks as unfounded fear-mongering. He argued that Gandhi’s statements are aimed at discouraging ordinary Indians from investing and benefiting from India’s economic growth.
“Rahul Gandhi is indulging in fear-mongering about the markets because he and his ‘Balak Buddhi’ cabal are scared that Indians are making legitimate money and rising out of poverty,” Malviya posted. He further accused Gandhi of being unable to handle the sight of India’s middle class flourishing and investing in the markets.
Highlighting India’s robust economic narrative, Malviya pointed to optimistic projections by reputed brokerage firms such as CLSA and Motilal Oswal. These firms have consistently expressed confidence in India’s long-term growth story, especially under the Modi government’s reforms. This bullish sentiment is starkly at odds with Gandhi’s alarmist tone, which, according to critics, serves to create unnecessary panic and erode trust in economic institutions.
Malviya also drew attention to the Congress party’s contradictory legacy. “This is classic Congress hypocrisy,” he said. “They gave us the slogan ‘Garibi Hatao’ while ensuring India stayed poor and dependent on government doles. Meanwhile, the Gandhi family enterprise quietly amassed wealth, benefiting from the very markets they disparage.”
In a stinging revelation, Malviya exposed Gandhi’s personal financial investments. According to him, Rahul Gandhi’s equity portfolio saw negligible activity in 2014. However, by 2024, his investments had reportedly soared to Rs 6.70 crore, with a gain of Rs 46.5 lakh in just the first few months of the Modi government’s third term.
“Rahul Gandhi’s growing confidence in Prime Minister Modi’s governance speaks louder than his empty rhetoric. He isn’t against the stock market—he is just against ordinary Indians making money and getting wealthy,” Malviya remarked.
The BJP’s critique of Congress’s economic policies dates back to the party’s handling of the ‘Garibi Hatao’ slogan in the 1970s. While the Congress promised poverty eradication, critics argue that their policies entrenched systemic poverty, keeping Indians reliant on government welfare rather than empowering them economically.
Malviya juxtaposed this with the transformative reforms undertaken by the Modi government, which have spurred widespread entrepreneurial growth, stock market participation, and job creation. He argued that Gandhi’s fear-mongering not only undermines this progress but also reeks of privilege and hypocrisy.
