Congress Accuses PM Modi of Favoritism in Development Model

The Congress accused Prime Minister Narendra Modi of prioritizing his friends' interests over the public. AICC Secretary Pranav Jha highlighted the BJP's negative politics due to the Congress-National Conference alliance. He claimed Modi's development model benefits close allies while neglecting common people and criticized SEBI for undermining market credibility.

The Congress on Friday accused Prime Minister Narendra Modi of putting his ''friends''' interests over that of the public, asserting that his ''development model'' is chiefly designed to benefit his allies.

AICC Secretary Pranav Jha claimed that the BJP is panicking following the seat-sharing agreement between the Congress and the National Conference in Jammu and Kashmir. This, he said, has led the party to resort to negative politics.

''Modi's so-called 'vikas' model is actually a 'Mitra-model,' where investigations or actions are taken against political opponents but not against anyone close to the Prime Minister or the BJP, regardless of the allegations,'' Jha told reporters. He questioned how individuals close to the BJP became vastly wealthy under Modi's rule, attributing it to 'Mitravaad' within his regime.

Jha raised concerns about business deals and investigations involving Modi's government. He pointed out that the recent Hindenburg report implicated not just the government but also suggested that SEBI chairperson Madhabi Buch was complicit in these schemes.

He criticized Buch's role, alleging it had severely damaged the credibility of SEBI and the Indian stock market. Jha questioned why Buch has not resigned and called for the Supreme Court to take suo motu cognisance of the issue, asking, ''Who will be responsible if millions of investors lose their investments?''

(With inputs from agencies.)