Akhilesh Yadav Blames BJP for Market Crash: Warns of Economic Consequences for Common People:

Following a dramatic market plunge triggered by US President Donald Trump’s reciprocal tariff hike, including a 27% tariff on Indian goods, Samajwadi Party (SP) president Akhilesh Yadav voiced serious concerns over the economic fallout. On Saturday, he criticized the central government for mishandling the situation and warned of long-term damage to India’s economy and the public's wealth.

Stock Market Wipeout: Investors Lose Rs 10 Lakh Crore

The BSE Sensex fell by 930.67 points (1.22%), closing at 75,364.69 on Friday. This crash wiped out Rs 9.98 lakh crore in market capitalisation, bringing the total value of BSE-listed firms down to Rs 403.34 lakh crore (approx. USD 4.73 trillion). The drop followed fears of a global trade war fueled by U.S. tariff hikes.

Akhilesh Yadav’s Statement on X (Twitter)

In a Hindi post on X, Yadav wrote:

“Millions of crores of investors' money is lost. This is not just about the markets; it’s about the savings and capital of common people—used to buy goods, services, vehicles, and land. If this money disappears, the entire market slows down, and the economy sinks.”

He further said that today's youth, who are increasingly investing their savings in stocks, are now exposed to uncertainty and losses, which could deter them from investing altogether.

The ‘Double Vicious Circle’ of Economic Distress

Akhilesh labeled the current economic condition as a "double vicious circle," holding the BJP government responsible. He claimed the government failed to safeguard public investment and market stability, especially in the wake of demonetisation and ongoing recessionary pressures.

“The poor and unemployed, who rely on market dynamism for income, are hit the hardest. If we exclude the top 1% super-rich, the remaining 99% are suffering from this market collapse.”