Modi Accused of Stock Market Manipulation as ‘Inauguration’ Delayed

Modi Accused of Stock Market Manipulation as ‘Inauguration’ Delayed

Keywords: India elections, Modi, stock market, inauguration

The Independent

Indian Prime Minister Narendra Modi is facing accusations of stock market manipulation after the inauguration of the country’s new parliament building was delayed.

The inauguration, which was scheduled for Wednesday, has been postponed indefinitely due to the COVID-19 pandemic. However, the delay has sparked speculation that the government may have been trying to influence the stock market by announcing the inauguration on a day when the Sensex Index was performing well.

On Tuesday, the Sensex Index rose by over 1,000 points, reaching its highest level in over a year. The surge in the stock market was attributed to the announcement of the inauguration and positive news about the economy.

However, critics have accused the government of manipulating the stock market by artificially inflating the Sensex Index. They argue that the delay in the inauguration was a deliberate ploy to create a positive stock market environment before the key election in Uttar Pradesh, India’s most populous state.

The opposition Indian National Congress has demanded a probe into the allegations of stock market manipulation. The party’s spokesperson, Randeep Surjewala, called the delay in the inauguration a “political stunt” and a “blatant attempt to mislead the people.”

The government has denied the allegations of stock market manipulation. Finance Minister Nirmala Sitharaman said that the inauguration was delayed due to the pandemic and that there was no political motive behind the decision.

The allegations of stock market manipulation are a major blow to Modi’s reputation. The prime minister has been accused of authoritarian tendencies and of being intolerant of dissent. The allegations also raise questions about the integrity of India’s stock market and the fairness of the upcoming elections.