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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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Cockroach Janta Party gives CEC Gyanesh Kumar 48 hours to resign, warns of nationwide protests

Cockroach Janta Party founder Abhijeet Dipke has demanded the resignation of Chief Election Commissioner Gyanesh Kumar within 48 hours, warning of a nationwide agitation if the demand is not met.

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Cockroach Janta Party (CJP) founder Abhijeet Dipke has demanded that Chief Election Commissioner Gyanesh Kumar resign within 48 hours, warning that the organisation will launch a nationwide agitation if he does not step down.

The demand was made during a press conference on Thursday amid a wider controversy surrounding the Election Commission’s handling of electoral-roll-related matters and the ongoing Special Intensive Revision (SIR).

Dipke alleged that the functioning of the Election Commission under Kumar had raised concerns over the electoral process. These claims are allegations made by Dipke and should not be treated as established facts.

What did Abhijeet Dipke demand?

Dipke called for Gyanesh Kumar’s resignation within 48 hours. He warned that the CJP would begin a nationwide protest if the Chief Election Commissioner did not step down within the deadline.

The organisation said the proposed agitation would follow the lines of its earlier protest at Delhi’s Jantar Mantar.

The CJP also raised other demands related to the electoral process, including a halt to ongoing electoral exercises and the Special Intensive Revision of electoral rolls.

Why is CJP demanding Gyanesh Kumar’s resignation?

The demand comes amid a controversy over the Election Commission’s electoral-roll processes.

The demand came amid a controversy over the Election Commission’s handling of the Special Intensive Revision (SIR) of electoral rolls, following a report that Election Commissioners Sukhbir Singh Sandhu and Vivek Joshi had raised questions about the exercise. 

However, the Election Commission has rejected the suggestion that these differences represented a division within the three-member poll panel. The Commission said that differing views, written notes and internal checks are part of its deliberative process and maintained that decisions, including those concerning SIR, were taken unanimously.

What has Abhijeet Dipke alleged?

Dipke has alleged that more than 13 crore votes were deleted from electoral rolls and questioned the reasons behind the deletions.

He also alleged that voter deletions had affected Opposition leaders and referred to several political figures while making his claims.

These figures and allegations were presented by Dipke during the press conference. They should therefore be attributed to him rather than stated as independently verified facts.

Dipke also questioned whether the alleged deletions could affect the political balance in elections.

What happens if Gyanesh Kumar does not resign?

According to Dipke, the CJP will launch a nationwide agitation if the Chief Election Commissioner does not resign within 48 hours.

He said the organisation would continue its campaign until its demand for Kumar’s resignation was met.

The CJP has also announced a broader campaign against the Election Commission, while warning of further protests.

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Rahul Gandhi attacks CEC Gyanesh Kumar, says vote chori leads to kanoon chori

Rahul Gandhi accused the Election Commission of failing to protect voters and linked his “vote chori” allegation to what he called “kanoon chori”.

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Congress leader and Leader of Opposition in the Lok Sabha Rahul Gandhi on Thursday launched a fresh attack on Chief Election Commissioner Gyanesh Kumar and the Narendra Modi government, alleging irregularities in India’s electoral process.

Addressing a press conference in Delhi, Mr Gandhi linked his earlier allegations of “vote chori” with what he described as “kanoon chori”, arguing that alleged manipulation of votes would have consequences for the country’s law-making and institutional systems.

“From vote chori comes kanoon chori,” Mr Gandhi said, arguing that if votes had been stolen, laws and institutional changes made by lawmakers elected through those votes would also be affected.

Rahul Gandhi attacks Gyanesh Kumar

Mr Gandhi specifically targeted Chief Election Commissioner Gyanesh Kumar and questioned the Election Commission’s handling of the electoral process.

His remarks came amid reports of differences within the poll body over the Special Intensive Revision (SIR) exercise. Mr Gandhi referred to reported concerns involving the Election Commission and alleged that questions raised about the functioning of the poll panel had not been adequately addressed.

He also alleged that the Election Commission had failed in its responsibility to protect the vote, which he described as the foundation of India’s democratic and constitutional system.

‘Vote chori’ claim

Mr Gandhi reiterated his allegations of irregularities in elections and said the issue went beyond individual voters.

He argued that the vote gives power to the Constitution, while the Constitution provides the basis for laws and institutions. On that basis, he said alleged destruction of the voting process would have wider consequences for the country’s constitutional system.

Mr Gandhi also questioned what he described as the disappearance of anti-incumbency in elections involving the BJP, comparing recent electoral outcomes with earlier political trends.

He alleged that the 2024 Lok Sabha and Assembly elections had been manipulated. These remain allegations made by Mr Gandhi and should not be presented as established facts.

Attack on Modi and Amit Shah

During the press conference, Mr Gandhi also targeted Prime Minister Narendra Modi and Union Home Minister Amit Shah while making his allegations about the electoral process.

He questioned the role of the Election Commission and its leadership, and called for accountability over what he described as irregularities affecting India’s voting system.

Mr Gandhi said he was presenting evidence for his allegations and maintained that the issue concerned not only elections but also the functioning of democratic institutions.

The Election Commission’s reported internal differences over the SIR exercise formed part of the backdrop to his remarks. The claims made by Mr Gandhi concern his interpretation of those developments and are distinct from established findings about election manipulation.

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Ram Temple donation theft case chargesheet filed, trustees not named

A chargesheet has been filed in the Ram Temple donation-theft case in Ayodhya. The temple trust’s trustees have not been named as accused.

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A chargesheet has been filed in the case involving alleged theft of donations at the Ram Temple in Ayodhya. The chargesheet, however, does not name the trustees of the temple trust as accused.

The development comes after an investigation into several instances of alleged theft of donations at the temple complex. The probe had examined CCTV footage and other evidence related to the incidents.

Chargesheet filed in donation theft case

The chargesheet has been submitted against those accused in connection with the alleged theft of donations at the Ram Temple.

Importantly, the trustees of the Shri Ram Janmabhoomi Teerth Kshetra Trust have not been named as accused in the chargesheet.

The investigation had focused on incidents in which donations were allegedly stolen from the temple premises. CCTV footage was examined as part of the probe into the reported thefts.

Investigation into 105 theft incidents

An earlier investigation had identified 105 instances of alleged donation theft through CCTV footage. The probe examined the incidents and the people allegedly involved in them.

The case had also led to arrests of accused persons named in the FIR. The investigation subsequently examined the role of individuals connected with the incidents.

The filing of the chargesheet marks a further step in the criminal proceedings related to the alleged theft of donations at the Ram Temple.

Trustees not named as accused

The chargesheet does not name the temple trust’s trustees as accused. This distinction is significant because the filing concerns the individuals against whom the investigating agency has proceeded in the case.

The chargesheet will now form part of the legal proceedings, while the matter will be dealt with through the appropriate judicial process.

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