BJP likes to believe it will be in power 'eternally', but that's not the case: Rahul Gandhi
London (PTI): The BJP likes to believe that it will be in power in India "eternally" but that is not the case and the Opposition can come together to undertake the "repair work" that needs to be done for Indian democracy, Congress leader Rahul Gandhi has said.
Addressing an in-conversation session at the Chatham House think tank in London on Monday evening to round off his week-long UK tour, the MP from Kerala's Wayanad once again claimed that Israeli software Pegasus was planted on his phone as he accused the ruling Bharatiya Janata Party (BJP) of trying to silence dissent in India.
"To put it in perspective, if you look at the time from independence to now, the Congress party has been in power for the majority of the time," Gandhi said.
"Before the BJP was in power for 10 years, we were in power for 10 years. The BJP likes to believe that they have come to power in India and they are going to be in power eternally, that's not the case," the 52-year-old former Congress chief said.
The BJP-led National Democratic Alliance (NDA) government came to power in India in 2014.
Gandhi pointed to a set of changes taking place in India that had caught the Congress and the previous United Progressive Alliance (UPA) government led by the party off guard, such as a shift from rural to urban.
"We were focusing a lot on the rural space and we missed the ball at the beginning on the urban space, that is a fact. Those things are there. But to say that the BJP is in power and the Congress gone, that is actually a ridiculous idea," he said.
During his Chatham House discussion, Gandhi pointed out that besides the Congress, the foreign media has also been highlighting that there is a "serious problem with Indian democracy".
"It is also the way the BJP responds. It is not interested in a conversation. They have decided that they know what is going on, nobody else in the country knows what is going on and that is it.... My phone had Pegasus on it, that simply was not happening when we were in power. So there are things that are very obvious and apparent to everyone," he said.
The BJP has accused Gandhi of maligning India on foreign soil, with Union Information and Broadcasting Minister Anurag Thakur hitting out at his remarks in London and asking the Congress leader not to betray the nation.
"Do not betray India, Rahul Gandhi ji. The objections to India's foreign policy are evidence of your scant understanding of the issue. No one will believe the lies you spread about India from foreign soil," Thakur told reporters in New Delhi on Monday.
The BJP has also made light of Gandhi's allegation that he was being snooped upon, saying that the Congress leader was "hallucinating" and makes such claims as he wants to create headlines wherever he goes.
In his address at the Chatham House, Gandhi also took aim at the Rashtriya Swayamsevak Sangh (RSS) as a "fundamentalist, fascist organisation" that has changed the nature of the democratic contest in India by capturing the country's institutions.
Asked to explain the RSS to a foreign audience, he noted: "You can call it a secret society. It is built along the lines of the Muslim Brotherhood and the idea is to use the democratic contest to come to power and then subvert the democratic contest afterwards.
"It has shocked me at how successful they have been at capturing the different institutions of our country. The press, judiciary, Parliament, Election Commission -- all the institutions are under pressure, under threat and controlled in one way or another."
On India's foreign policy, Gandhi drew a comparison between the Russia-Ukraine conflict and India-China relations and accused China of sitting on 2,000 square kilometres of Indian territory, adding that "but our prime minister says they are not there".
"The basic principle applied in Ukraine by the Russians is that they do not accept the relationship the Ukrainians have with Europe and America, and have told Ukraine that if you do not change this relationship, we will challenge your territorial integrity. In my view, that is what is happening on the borders of my country," he claimed, adding that China is similarly threatening India over its relations with the United States.
"The basic idea behind the troops in Arunachal (Pradesh) and Ladakh is similar to what has happened in Ukraine, and I mentioned this to the foreign minister (S Jaishankar). He completely disagreed with me and he thinks it is a ludicrous idea," the Congress leader said.
Among the questions from a diaspora and academic audience at the event, Gandhi was asked about dynastic politics as an impediment to Indian democracy, which he dismissed as a factor and blamed "structural" issues "way beyond dynastic politics" as a threat.
On India-Pakistan relations, the Opposition leader said he believes it is important to have good relations with all neighbouring countries but added that it depends on the actions of the Pakistanis.
"If the Pakistanis are promoting terrorism in India, that becomes very difficult. And that does happen," he said.
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SEBI must name 'big players' profiteering at expense of small traders in F&O trading: Rahul Gandhi
New Delhi, Sep 24: Congress leader Rahul Gandhi on Tuesday said 90 per cent of small investors have lost Rs 1.8 lakh crore in Futures and Option (F&O) trading in three years and asked the SEBI to reveal the names of the "so called big players" profiteering at their expense.
More than 91 per cent, or 73 lakh, individual traders lost money in the F&O segment in FY24 with an average net loss of Rs 1.2 lakh per person, a study conducted by markets regulator Securities and Exchange Board of India (SEBI) revealed on Monday.
Further, 93 per cent of over 1 crore individual F&O traders incurred average losses of about Rs 2 lakh per trader (inclusive of transaction costs) during the three years from FY22 to FY24. The aggregate losses of such traders exceeded Rs 1.8 lakh crore during the period.
Gandhi, who is the leader of the Opposition in the Lok Sabha, said on X, "Uncontrolled F&O trading has grown 45X in 5 years. 90% of small investors have lost ₹1.8 lakh Cr in 3 years."
"SEBI must reveal the names of the so called 'Big Players' making a killing at their expense," the former Congress chief said.
The study said in FY24 alone, individuals incurred about Rs 75,000 crore in net losses.
It found the top 3.5 per cent of loss-makers -- about 4 lakh traders -- faced an average loss of Rs 28 lakh per person over the same period, inclusive of transaction costs.
On the other hand, only 7.2 per cent of individual F&O traders made a profit over the period of three years and only 1 per cent of individual traders managed to earn profits exceeding Rs 1 lakh, after adjusting for transaction costs.
Moreover, the number of retail traders, or individual traders, has almost doubled in two years to about 96 lakh in FY24 from about 51 lakh in FY22.
Although such investors contributed about 30 per cent to the total turnover in FY24, they are a clear majority in number terms, as 99.8 per cent of total traders in the equity F&O segment are individuals.
"The availability of sophisticated trading platforms and lower transaction costs have enabled retail investors to actively trade in options and futures contracts, contributing to the surge in market liquidity," SEBI said.
The regulator said rapid growth in F&O trading activity has highlighted the need for investor education and risk management practices, as a significant proportion of retail traders continued to incur losses in the market.
Uncontrolled F&O trading has grown 45x in 5 years.
— Rahul Gandhi (@RahulGandhi) September 24, 2024
90% of small investors have lost ₹1.8 lakh Cr in 3 years.
SEBI must reveal the names of the so called “Big Players“ making a killing at their expense.
