The BJP on Monday hit back at Congress leader Rahul Gandhi, accusing him of spreading fear and misinformation about the Indian stock market. The party emphasized that under the Modi government, lakhs of retail investors have built wealth through mutual funds, IPOs, and SIPs.

The sharp rebuttal came from BJP IT Cell head Amit Malviya, following Gandhi’s criticism of SEBI's delayed action against hedge fund Jane Street, which stands accused of manipulating market indices. Gandhi had posted on social media platform X, accusing the Modi government and SEBI of remaining silent while big players drained small investors’ savings.

Malviya responded, saying SEBI's action proves the regulator is not silent. “If SEBI were inactive, there would be no investigation, no ban, and no headline. Rahul Gandhi's entire argument falls apart right there,” he asserted.

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He also defended the Modi government’s market reforms, claiming they had strengthened SEBI’s transparency and enforcement powers. In contrast, Malviya reminded that major stock market scams like Harshad Mehta and UTI occurred under Congress governments.

Highlighting India's strong economic performance, Malviya noted:

• $1 trillion added to market cap since March 2025

• Mutual fund AUM jumped from ₹8 lakh crore to ₹54 lakh crore in 10 years

• Retail investor base surged from under 1 crore to over 4 crore

• Over ₹3 lakh crore raised via IPOs in 4 years

• More than 580 companies launched IPOs since 2020

Taking a personal jab, Malviya accused Gandhi of growing his own stock portfolio while undermining investor confidence publicly. "Balakbudhhi is at it again," he quipped, implying immaturity in Gandhi’s economic understanding.

He concluded by saying the only thing shrinking in the current market is the Congress party’s credibility, not investor opportunity. “India's markets are delivering prosperity to millions — no thanks to Rahul Gandhi’s negativity,” Malviya said.

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