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The Congress leader’s jibe came as benchmark indices came under heavy selling pressure in early trade on Wednesday, with Nifty too opening below the 23,850 level
Pawan Khera juxtaposed the government’s celebration of the economic numbers with the sharp fall in the stock market.
Congress leader Pawan Khera on Wednesday took a swipe at the Narendra Modi government over India’s latest 7.8 per cent GDP growthjuxtaposing the government’s celebration of the economic numbers with the sharp fall in the stock market.
“Stock Market Mein Khushi kii lahar,” Khera posted on X. “The 7.8% GDP growth has created such an atmosphere of celebration and confidence across the country that… The Sensex fell 788 points.”
Khera’s jibe came as benchmark indices came under heavy selling pressure in early trade on Wednesday, with the Sensex plunging around 788 points and the Nifty opening below the 23,850 level. The market sell-off came amid a sharp rise in crude oil prices and elevated US bond yields, which weighed on investor sentiment.
The Congress leader’s remark comes against the backdrop of an intense political debate over the significance of India’s latest GDP numbers, with the government highlighting the 7.8 per cent growth in the first quarter as evidence of the strength of the Indian economy.
Prime Minister Narendra Modi has repeatedly celebrated the growth figure, describing it as a major achievement and arguing that the numbers have exposed the Opposition’s pessimism about the economy.
PM Modi on Tuesday said the latest GDP data had demonstrated that India was performing beyond expectations even as several major economies faced uncertainty. He also said the growth was broad-based and showed that India’s journey towards becoming the world’s third-largest economy was progressing.
The prime minister described the 7.8 per cent growth as a “herculean feat”, contrasting India’s performance with those who had predicted an economic slowdown.
ALSO READ | ‘India Bloomed, Doomsayers Doomed’: PM Modi Calls 7.8% GDP Growth A ‘Herculean Feat’
He also sharpened his political attack over the GDP debate, taking a swipe at Congress leader Rahul Gandhi with his “jhooth ki goonj” remark and accusing those “mired in despair” of refusing to acknowledge India’s economic performance.
Finance Minister Nirmala Sitharaman also described India as one of the world’s fastest-growing major economies and stressed the consistency of its growth performance. In an earlier News18 interview, Sitharaman had said India’s economy had been growing at a rapid pace for several years and pointed to policy and political stability as factors supporting that performance.
Khera’s Argument
Khera’s post seeks to turn the government’s celebratory messaging on its head. His point is not necessarily that the Sensex’s one-day movement disproves the GDP data. Rather, the Congress attack highlights the contrast between headline economic growth and investor sentiment.
ALSO READ | PM Modi Takes A ‘Jhooth Ki Goonj’ Swipe At Rahul Gandhi On GDP Numbers: ‘Those Mired In Despair…’
The Wednesday market fall, according to the News18 market report, was driven by factors including surging crude oil prices and higher US Treasury yields. These are global financial and geopolitical factors and do not, by themselves, establish that investors have rejected India’s 7.8 per cent GDP performance.
Still, the juxtaposition gives the Opposition political ammunition: while the government is pointing to GDP as evidence of economic strength, the stock market was witnessing a sharp sell-off.
About the Author
Apoorva Misra is an Associate Editor at News18.com with a keen interest in politics and current affairs. She loves uncovering fresh angles and telling stories through long-form features and explainers…Read More
September 02, 2026, 11:50 IST
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