Congress Criticises Modi Government Over Market Fall And FII Outflows
· Business · Hindustan Times, The Hindu
Congress leader Shaktisinh Gohil on Monday criticised the Narendra Modi-led government over the recent decline in the Indian stock market and continuous foreign institutional investor outflows. Mr. Gohil alleged that government policies are hurting the middle class, pointing out that more than ₹4 lakh crore has exited the country through FIIs over nine consecutive months of negative figures. Indian equities have faced sustained pressure, with the Sensex closing at 72,771.72 on September 28 and dropping further to 72,480.29 on September 30, while foreign investors sold an additional ₹10,148 crore on October 1. The opposition leader also targeted the Centre over capital gains taxation, arguing that short-term capital gains are taxed at 20 per cent and long-term gains at 12.5 per cent, compared to tax structures under the previous UPA administration. Furthermore, he claimed that retail investors who followed Prime Minister Narendra Modi's past investment encouragement are currently facing
Why it matters
The political clash over stock market volatility and capital gains taxes directly addresses the economic sentiment and financial well-being of India's retail investors and middle class.
Read the original report — Hindustan Times
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