As the Lok Sabha election 2024 progresses towards its fifth phase, Prime Minister Narendra Modi, during an interview with NDTV highlighted that the nation's stock market will set new records following election results on June 4.
PM Modi on Stock Market
"Wait and watch on June 4, the Indian Stock Market programmers will get tired of action," he added to the question on the markets.
Speaking to NDTV, Modi emphasised that the BJP government has done maximum economic reforms and pro-entrepreneurship policies over the past decades, and has significantly bolstered the Indian economy.
"Wait and watch on June 4; the programmers behind the stock market will get tired of the action," said Modi.
Talking about the the stock market's performance to the ongoing election and market behaviour during the election week, he further added that the market has risen from 25,000 points to 75,000 points now, when his party government took office.
Dismissing opposition claims that the BJP's policies were detrimental to PSUs, he pointed out of several public sector undertakings (PSUs), particularly Hindustan Aeronautics Ltd. (HAL). The company reported a 52 per cent jump in net profit for the January-March quarter, reaching Rs 4,308 crore.
Stock Market | Image: Wikipedia (Representative)
He also addressed criticisms regarding unemployment, arguing that the country's large-scale infrastructure projects would be impossible without substantial manpower.
In the Interview, he noted growing trend of young people investing in the stock market, which he sees as a positive development for the economy and encouraged citizens to cultivate a risk-taking mindset as they gain more experience in investing, suggesting that this would further strengthen the market and the broader economy.
Amit Shah's Market Advice
Earlier, the Union Home Minister and BJP leader Amit Shah on May 13, during an interview with NDTV Profit addressed the concerns regarding the recent fluctuations in the stock market.
Addressing the speculation among investors, he dismissed the rumors affecting market sentiments and suggested investors to consider buying stocks before June 4, the date of election results, anticipating a potential surge in the market performance thereafter, expressing confidence in a positive outcome for both the market and the BJP's prospects in the election result.
