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Akhilesh Yadav slams Centre after stock market slump, says common people losing money

In a post on X in Hindi, Yadav held the central government accountable for what he described as a “double vicious circle” threatening India’s financial stability.

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Samajwadi Party chief and former Uttar Pradesh Chief Minister Akhilesh Yadav on Saturday raised serious concerns about the sharp decline in India’s stock markets, warning that the loss of common people’s savings could drag the entire economy into a downturn.

In a post on X in Hindi, Yadav held the central government accountable for what he described as a “double vicious circle” threatening India’s financial stability.

The market crash followed US President Donald Trump’s announcement of sweeping reciprocal tariffs, including a 27 percent tariff on India, aimed at reducing the US trade deficit and boosting domestic manufacturing.

On Friday, Indian markets witnessed a massive sell-off, with investor wealth eroding by Rs 10 lakh crore. The BSE Sensex, a key stock market index, plummeted 930.67 points, or 1.22 percent, closing at 75,364.69, its lowest in months. The market capitalization of BSE-listed firms shrank by Rs 9,98,379.46 crore, bringing it down to Rs 4,03,34,886.46 crore (approximately USD 4.73 trillion).

Yadav emphasized the gravity of the situation, stating, “It is very important to pay attention to the loss of millions of crores in the country’s stock market because the savings and capital of common people—who have a little extra money to invest in goods, services, vehicles, or land—are being wiped out. These transactions keep the wheels of buying and selling turning in the market and sustain the economy. If the money of common people is lost in the stock market, both the market and the economy will sink.”

He highlighted the impact on young investors, who are increasingly putting their savings into stocks. “Today, when the youth are investing their savings in the stock market, they are also becoming victims of this market uncertainty. This is a very dangerous situation for the future of the country’s capital market,” Yadav warned. He added that such losses could discourage young people from future investments, sending a negative signal to the stock market’s long-term prospects.

Yadav also pointed to the broader economic fallout, noting the plight of those already struggling due to unemployment and recession since demonetisation. “There are people who have neither money nor jobs. They depend on market activity and dynamism to survive, facing hunger and unemployment. The fall of the stock market has a very bad long-term effect on their livelihood,” he said.

The SP chief painted a stark picture of inequality, asserting, “The bitter truth is that, leaving aside the 1 percent super-rich, the remaining 99 percent of common people in the country are being directly or indirectly ruined by the destruction of the stock market.” He accused the BJP-led central government of being “not only directly responsible for this double vicious circle of the economy but also guilty.” In a sharp political jab, he claimed, “Investors today say, we don’t want BJP!”

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Nawaz Sharif urges Shehbaz Sharif to pursue diplomacy over aggression against India

Nawaz Sharif has advised Prime Minister Shehbaz Sharif to avoid aggression and focus on diplomacy following India’s suspension of the Indus Waters Treaty.

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Nawaz-Sharif

In a significant development amidst escalating regional tensions, former Pakistan Prime Minister Nawaz Sharif has urged his younger brother and current Prime Minister, Shehbaz Sharif, to adopt a diplomatic approach rather than an aggressive stance towards India.

During a meeting in Lahore on Sunday evening, Shehbaz Sharif briefed Nawaz Sharif about the government’s recent actions against India, following India’s decision to suspend the Indus Waters Treaty (IWT) after the Pahalgam attack. The Pakistani government, in response, had closed its airspace for India and reportedly stepped up its readiness to counter any hostile moves.

Sources indicate that Shehbaz Sharif expressed concerns about India’s suspension of the water-sharing agreement, warning that it could escalate tensions dangerously in the region. He emphasized Pakistan’s preparedness to respond strongly if necessary.

However, Nawaz Sharif, founder of the ruling Pakistan Muslim League-Nawaz (PML-N), advised a more measured path. He recommended using all diplomatic avenues to de-escalate tensions and restore peace with India. Nawaz Sharif stressed the importance of avoiding any aggressive actions that could worsen the situation.

In a related move, Pakistan’s Defence Minister Khawaja Asif has suggested the formation of an international commission comprising representatives from countries like the United States, Russia, China, and Britain to investigate the Pahalgam attack, seeking broader international involvement in addressing the conflict.

The ongoing situation between India and Pakistan remains delicate, with calls from within Pakistan’s leadership for calm and dialogue to prevent further deterioration.

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Asaduddin Owaisi criticises Bilawal Bhutto’s remarks amid Indus Waters Treaty row

Asaduddin Owaisi hits out at Bilawal Bhutto Zardari for his provocative “blood will flow” remark after India suspended the Indus Waters Treaty, highlighting the tragic consequences of terrorism.

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Pakistan Foreign Minister Bilawal Bhutto Zardari

AIMIM leader and Hyderabad MP Asaduddin Owaisi has strongly rebuked Pakistan People’s Party (PPP) leader Bilawal Bhutto Zardari over his controversial statement following India’s suspension of the Indus Waters Treaty. Owaisi reminded Bhutto of the tragic assassinations of his mother, former Pakistan Prime Minister Benazir Bhutto, and grandfather, former President Zulfikar Ali Bhutto.

Bilawal Bhutto, who was Pakistan’s Foreign Minister till 2023 and remains an influential figure in the ruling coalition, had issued a provocative warning after India’s decision, reportedly saying, “The Indus is ours and will remain ours – either our water will flow through it, or their blood.”

Responding to these remarks, Owaisi said Bhutto should reconsider his words, recalling how terrorism claimed the lives of his mother and grandfather. “Forget about such childish talk. His mother was killed by terrorists. He should not speak in this manner,” Owaisi said, stressing that terrorism must be condemned universally and not selectively.

Owaisi also criticised Pakistan’s leadership for threatening India with nuclear weapons, highlighting the brutality of recent terror attacks. “If you enter a country and kill innocents, no nation will remain silent,” he said. He compared extremist elements to the Khawarij and ISIS sympathisers, known for their radical ideologies.

The assassination of Benazir Bhutto in Rawalpindi in December 2007 has long been linked to extremist groups, though the case remains unresolved.

Bilawal Bhutto’s comments have sparked wide condemnation across India’s political spectrum. Union Minister Hardeep Singh Puri suggested that Bhutto should undergo a mental health evaluation, while Congress MP Shashi Tharoor labelled the remarks “inflammatory.” Tharoor warned that any aggression from Pakistan would be met with an appropriate response, asserting, “If blood is going to flow, it will possibly flow more on their side than ours.”

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India inks Rs 63,000 crore deal for 26 Rafale-M jets to strengthen naval fleet

India has signed a ₹63,000 crore deal with France to acquire 26 Rafale M fighter jets, strengthening the Navy’s capabilities aboard INS Vikrant and INS Vikramaditya.

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India has finalized a major ₹63,000 crore agreement with France for the acquisition of 26 Rafale M fighter jets, enhancing its maritime strength significantly. This government-to-government deal, signed on Monday, includes 22 single-seater and four twin-seater trainer variants, with delivery expected by 2031.

The deal not only covers the procurement of the jets but also includes comprehensive fleet maintenance, logistical support, and training for Navy personnel. In a notable boost to the ‘Atmanirbhar Bharat’ initiative, indigenous manufacturing of several components will be undertaken under offset obligations.

The Rafale M, currently operated only by the French Navy, is renowned for its superior capabilities among naval fighter jets globally. It features Safran Group’s reinforced landing gear, folding wings, and a robust undercarriage designed to endure the tough conditions of carrier-based operations.

The Indian Navy plans to deploy these new Rafale-M fighters aboard its aircraft carriers, INS Vikrant and INS Vikramaditya, replacing the ageing fleet of MiG-29K aircraft. This move is expected to significantly bolster India’s maritime defense capabilities, especially amid rising security challenges in the Indian Ocean region.

In December, Navy Chief Admiral Dinesh Tripathi emphasized a strategic shift to “negate” any infringement in India’s operational areas, highlighting the preparedness to counter threats from neighboring regions.

India’s Air Force, which already operates 36 Rafale ‘C’ variant jets from northern bases, will also benefit indirectly through upgrades to systems like the ‘buddy-buddy’ aerial refueling capability, allowing fighter jets to stay airborne for extended missions.

Looking ahead, the Navy is also progressing toward the induction of indigenous fifth-generation, twin-engine deck-based fighters, being developed by the Defence Research and Development Organisation (DRDO). These fighters will complement the Air Force’s upcoming Advanced Medium Combat Aircraft (AMCA), further strengthening India’s air and maritime security architecture.

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