Thursday, February 25, 2021
Home News Reports Sunday Guardian claims a diabolical plan hatched by a former UPA minister to overthrow...

Sunday Guardian claims a diabolical plan hatched by a former UPA minister to overthrow Modi

Madhav Das Nalapat, editorial director of The Sunday Guardian claimed that the ‘cabal’ loyal to the ‘first family’ in Congress was working on a ‘market meltdown’ in October. His article said that there was a systematic mechanism being worked out to engineer a crash in the market in October to tarnish the Modi government and influence the electoral results for next Lok Sabha polls.

Was the market behaviour around the budget period manipulated?

Mr Nalapat said that the market meltdown in pre-budget session was engineered by a former UPA minister and that the move had the capacity to make BJP voters in towns and cities switch sides if it were to be repeated. The report claims that the alleged market manipulation will be done by revelation of policy decisions from the former minister’s sources in the RBI and various ministries. This is an accusation of planned insider trading which is illegal. The writer cited one such plausible instance in his article.

Amazingly, the former minister is claiming credit for both the negative opening of the Singapore stock exchange on 2 February, as well as the unusual warning by Fitch rating agency that higher welfare spending in the budget just announced would impact India’s upgrade. Fitch’s comment was unexpected and the former minister has claimed to his associates that his “friends” in New York, London, Singapore and Dubai will ensure that Moody’s, Standard & Poor’s, as well as Goldman Sachs will soon issue similar warnings on India.

Alleged planned market manipulations in October can impact elections

He went on to say that if such a market crash were to happen close to the election dates, it could affect votes in urban areas where BJP is strong.

Dr Nalapat accused the unnamed former UPA minister of having hatched a plan to manipulate markets by 1st October this year in his series of tweets. As per Dr Nalapat , those assisting him in this endeavor include professionals in 31 brokerages/ financial agencies and officials in various ministries who hope that the former minister might get the ‘highest job’ if NDA were to be voted out of power in 2019.

Cabal led by former minister has deep pockets and no fear

In the article, Dr Nalapat also cited sources that accused the former minister of making Rs 39,000 crores by market manipulations, while he was in power. The cabal , according the writer is not afraid of consequences of its dubious activities. He said the ‘cabal’ headed by the former minister had planted fake stories in the past as well. He cited the case where false reports of coup by Gen VK Singh were reported in media.

His report also says that the engineered meltdown may cost about Rs 3000 crore and the former minister is ready to invest Rs 500 crores of his own in the operation. Deep pockets will come into play to achieve this goal as per Dr Madhav Nalapat. He concludes his article by saying :

Should the former minister be given an assurance by his party that he will be pitchforked into high office after the polls, the BJP may be in for an electoral ride made impossibly rough by the newly formed “October Meltdown” cabal using its deep pockets to engineer a steep and steady fall in share prices during the period preceding the Lok Sabha elections.

The scale, reach and ability of Lutyens cabal led by former minister seem to be huge. Will Modi take note of this warning and act? We will have to wait and watch.

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

Related Articles

Trending now

Adani Pavilion and Reliance Pavilion at Narendra Modi Stadium: All you want to know about naming stadiums and pavilions

The stadium was named after PM Modi as he was a former president of GCA, and Reliance & Adan won bids to sponsor two pavilions

Rahul Gandhi spreads fake news about train ticket fares being doubled: Here is the truth

Sources in Indian Railways said that do discourage crowding at passenger trains, their fares have been slightly increased

Now private sector banks can conduct government transactions, union government lifts embargo

Private sector banks will be able to conduct govt-related transactions such as taxes, pension, small savings schemes etc

Blocked by Trump, unblocked and followed by Biden and then unfollowed by Biden: Love-hate relationship of TV star Chrissy Teigen and POTUS

How Trump-hater Chrissy Teigen won a follow from POTUS Biden on inauguration night to eventual unfollow a month later on Twitter.

West Bengal: CID detains Bangladeshi national for the bomb attack on Minister Jakir Hossain

Jakir Hossain is being treated in a government hospital in Kolkata after receiving serious injuries in the attack.

Yogi Adityanath to meet Miss India runner-up Manya Singh and athlete Priyanka Goswami, two women who battled all odds

Manya Singh's father Omprakash Singh said that he and his daughter wanted to meet Chief Minister Yogi Adityanath

Recently Popular

US President Joe Biden casually drops the N-word during Munich Security Conference, accused of racism on social media

The N-word is considered as one of the hateful words that were first uttered in the 17th century. Its origin can be traced back to the Spanish word 'negro', which is often used by white supremacists to deliberately offend the African-American community.

Baghpat chaat fight: Man from viral video explains reason behind the brawl. Watch

The man, identified as Harinder, is a chaat vendor along with others got into a fight with other chaat vendors who had opened shop about two months back.

Karnataka: Journalist gets death threats from actor Dhruv Sarja’s fans for exposing anti-Brahmin hate shown in ‘Pogaru’ movie

Journalist Chiru Bhat had exposed the anti-Brahmin hatred shown in Dhruv Sarja's new Kannada movie 'Pogaru'.

After 450 buildings, projects being named after Nehru-Gandhi dynasty, ‘liberals’ outrage about stadium named after PM Modi

Congress workers getting triggered over Narendra Modi stadium is amusing considering there are at least 450 projects, structures, roads, colleges, universities named after the Nehru-Gandhi dynasty.

Mainstream media runs with lie that Kangana Ranaut featured in ‘item number’ to give Swara Bhasker precious ‘befitting reply’ points

Swara Bhasker claimed that Kangana Ranaut had starred in an 'item number' titled 'Julmi re Julmi' in the movie Rajjo.

‘You’ll become PM from CM’: Banned Khalistani outfit SFJ ‘counsels’ Bengal and Maharashtra CMs to declare independence from India

Gurpatwant Singh Pannu of Sikhs for Justice wants Maharashtra and West Bengal to declare independence from the Indian Union.
- Advertisement -

 

Connect with us

253,132FansLike
519,904FollowersFollow
23,700SubscribersSubscribe