Lucknow, Feb 26 (PTI) Samajwadi Party (SP) president Akhilesh Yadav on Wednesday attributed the recent decline in India's stock markets to foreign investors withdrawing funds, arguing that this reflects a loss of confidence in the country's economy under the BJP government.

In a post on social media platform X, Yadav stated, "If the continuous fall in the stock market is due to foreign investors pulling out money, it indicates that they no longer trust India's current economy."

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The former Uttar Pradesh chief minister also criticised the government's spending on attracting investments, calling it "a meaningless waste", and claimed that local industries and production had been severely affected.

Yadav further argued that "a lack of disposable income among the public had led to declining internal demand and reduced corporate profits".

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He also accused the ruling BJP of pressuring companies for political donations, saying this "extortion" was discouraging Indian markets and negatively impacting stock prices.

Concluding his post, Yadav took a political jibe at the ruling party, writing, "Investors are saying today no more BJP!"

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)