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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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Pralhad Joshi appointed Education Minister after Dharmendra Pradhan’s resignation

Pralhad Joshi has been entrusted with the additional charge of the Education Ministry after President Droupadi Murmu accepted Dharmendra Pradhan’s resignation amid the prolonged student protests over alleged examination paper leaks.

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Union Minister Pralhad Joshi has been given the additional charge of the Ministry of Education after President Droupadi Murmu accepted the resignation of Dharmendra Pradhan.

The President’s office confirmed the appointment through an official communique issued on Saturday evening. Joshi will continue to hold his existing portfolio as Union Minister of Food and Consumer Affairs while also overseeing the Education Ministry.

Dharmendra Pradhan resigns amid prolonged protests

Dharmendra Pradhan submitted his resignation on the 35th day of the student protests at Delhi’s Jantar Mantar over alleged examination paper leaks.

In his resignation letter, the 57-year-old leader said he chose to step down to prevent anti-national forces from exploiting the situation.

“For over four decades, I have dedicated myself to the cause of students, teachers, and educational reform. I have always believed that a robust, inclusive, and visionary education system forms the cornerstone of a strong nation,” Pradhan said.

CJP ends protest after Centre’s assurance

Hours after Pradhan’s resignation, CJP spokespersons Saurav Das and Ashutosh Ranka, during a joint press conference with Union ministers JP Nadda and Jitendra Singh, announced that the organisation was ending its protest in good faith after receiving assurances from the Centre that its demands would be addressed.

The resignation of Dharmendra Pradhan had been the principal demand of the organisation founded by Abhijeet Dipke, a Boston University graduate who returned to India to lead the campaign against alleged examination paper leaks.

Joshi reiterates government’s stand on students

A day before taking charge of the Education Ministry, Pralhad Joshi said the Centre remained committed to protecting students’ interests and ensuring strict action against irregularities affecting examinations.

He also alleged that anti-social elements were attempting to exploit the CJP-led protests and urged students to remain vigilant while continuing peaceful demonstrations.

“The Modi government has always stood with students and the youth. It remains committed to taking strict action against any irregularities or injustices that affect their future,” Joshi had said.

He added that while students have every right to protest peacefully, they should ensure that their genuine concerns are not misused by anti-social elements.

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Dharmendra Pradhan submits resignation to PM Modi amid student protests

Education Minister Dharmendra Pradhan has submitted his resignation to Prime Minister Narendra Modi, hours before the third round of talks between the Centre and the Cockroach Janta Party.

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Dharmendra Pradhan

Education Minister Dharmendra Pradhan on Saturday submitted his resignation to Prime Minister Narendra Modi, marking a major development amid the ongoing student protests at Delhi’s Jantar Mantar.

Pradhan announced the decision through a post on X, just hours before the Centre was scheduled to hold the third round of talks with the Cockroach Janta Party (CJP), which has been leading the agitation over alleged irregularities in competitive examinations.

The resignation of the Education Minister had remained the primary demand of the protesters, who have been camping at Jantar Mantar for more than a month seeking accountability and reforms in the examination system.

The latest development comes at a crucial time as both sides prepare for another round of discussions aimed at resolving the prolonged standoff.

As of now, there has been no official announcement from the Prime Minister’s Office on whether Pradhan’s resignation has been accepted. Further details are awaited.

Resignation comes before key Centre-CJP meeting

The announcement was made only hours before representatives of the Centre and the Cockroach Janta Party were expected to meet for the third round of negotiations.

The talks are being closely watched as the government attempts to end the month-long protest, with the resignation of Dharmendra Pradhan remaining one of the protesters’ central demands.

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CJP says Dharmendra Pradhan’s resignation non-negotiable ahead of third round of talks

CJP has hardened its stand before the third round of talks with the Centre, insisting that Education Minister Dharmendra Pradhan’s resignation remains its primary and non-negotiable demand.

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The Cockroach Janta Party (CJP) has reiterated that the resignation of Union Education Minister Dharmendra Pradhan remains its top demand, just hours before the third round of discussions with the Centre on Saturday.

CJP spokesperson Ashutosh Ranka said the organisation would see little purpose in continuing negotiations if the government was unwilling to remove the minister.

In a post on X, Ranka said Dharmendra Pradhan’s resignation was “non-negotiable” and added that there was no point in holding further discussions if the government rejected the demand.

The third round of talks is scheduled for Saturday afternoon after Union Ministers JP Nadda and Jitendra Singh met CJP representatives for nearly two hours during the second round of discussions on Friday.

According to the CJP, it has placed three key demands before the Centre:

  • Resignation of Education Minister Dharmendra Pradhan.
  • A guarantee that no legal action will be taken against protesting students.
  • Compensation of Rs 1 crore for the families of students who allegedly died by suicide following the NEET paper leak.

During Friday’s meeting, the Centre agreed in principle to two of the demands — ensuring no legal action against protesting students and providing compensation. However, the demand for the Education Minister’s resignation remains unresolved.

Speaking after the meeting, JP Nadda said the protesters had also submitted five suggestions for reforms to the examination system. He said the government would hold internal discussions before responding during Saturday’s meeting.

Government sources, however, indicated that Dharmendra Pradhan’s resignation is not under consideration. According to the sources, the government believes resignation is not the appropriate course of action and continues to back the minister.

Meanwhile, the Centre has announced several measures aimed at tackling examination paper leaks. Prime Minister Narendra Modi has announced the establishment of fast-track courts to hear paper leak cases, while the government is preparing amendments to strengthen the law with stricter punishments and higher fines.

The Centre has also replaced the Education Secretary and removed 47 officials of the National Testing Agency (NTA), while promising broader reforms within the examination body.

Responding to the action against NTA officials, Ashutosh Ranka said the move alone was insufficient. He maintained that accountability ultimately rests with the Education Minister and reiterated that Dharmendra Pradhan must resign.

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