Lok Sabha Elections Wrap-up and Government Formation Efforts Amid Market Turmoil

BJP Falls Short in Lok Sabha Elections, Focus Shifts to Government Formation
In New Delhi, following the conclusion of the Lok Sabha elections, the Bharatiya Janata Party (BJP), led by Prime Minister Narendra Modi, did not achieve a majority on its own. Despite this, the BJP and its National Democratic Alliance (NDA) are adamant that they will form the next government. On the other hand, the Congress-led Bharat Alliance is still far from reaching the majority mark, urging other parties to join their coalition.
As Narendra Modi plans his oath-taking ceremony for June 9 at 6 pm, Rahul Gandhi of the Congress has scheduled a press conference for June 6. During his recent conference, Gandhi spoke on the significant fluctuations in the stock market on May 31, demanding an investigation by a Joint Parliamentary Committee (JPC). He accused Home Minister Amit Shah of suggesting stock purchases before June 4 and PM Modi of forecasting a stock market boom, which did not materialize post-exit polls and election results, leading to considerable financial losses for many on June 3-4.
Gandhi also criticized PM Modi, Amit Shah, and Finance Minister Nirmala Sitharaman for their remarks during the election period, which he claims contributed to a major ‘stock market scam’, leading to a loss of Rs 30 lakh crore for small investors. He highlighted the discrepancy between the BJP’s internal survey predictions and the actual election outcome, which saw a sharp stock market decline on June 4, contrary to previous rebounds.
The unfolding political and economic scenario in India post-elections has sparked significant controversy and demands for accountability, particularly regarding the allegations of a stock market scam.