{
  "id": 12161592,
  "title": "Congress attacks Modi govt over market fall, FII outflows; flags middle-class tax burden",
  "url": "https://urgent.news/2026/10/05/congress-attacks-modi-govt-over-market-fall-fii-outflows-flags-middle",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-05T13:23:48.000Z",
  "source": {
    "name": "Hindustan Times",
    "slug": "hindustan-times",
    "url": "https://www.hindustantimes.com/india-news/congress-attacks-modi-govt-over-market-fall-fii-outflows-flags-middle-class-tax-burden-101791206159593.html"
  },
  "original_language": "en",
  "account": "The Congress party has harshly criticized the Narendra Modi-led government for the decline in the Indian stock market and ongoing outflows of foreign investors, arguing that the government's policies are adversely affecting the middle class. Over ₹4 lakh crore has left the country through Foreign Institutional Investors (FIIs) in the past nine months, with foreign investors selling another ₹10,148 crore in October, bringing their year-to-date selling to approximately $27.8 billion. Congress leader Shaktisinh Gohil pointed out that the Centre is imposing a higher tax burden on middle-class investors, with short-term capital gains taxed at 20%, compared to 12.5% for long-term capital gains, which the Congress-led UPA government had previously set to zero. Gohil also highlighted that the BJP government has essentially doubled the tax on middle-class investments in the stock market. Comparing the market performance under the Congress-led UPA government to that under the Modi government, Gohil claimed that the Sensex grew by 398% during the 10 years of Manmohan Singh's tenure as prime minister, but plummeted by 20.8% under the current government. Gohil argued that the BJP government has \"completely ruined the country's economy,\" attributing the sustained foreign investor outflows, a weak rupee, and the losses suffered by middle-class investors to the government's actions.",
  "summary": "Gohil targeted the Centre over capital gains taxation on stock market investments, arguing that middle-class investors were being subjected to higher tax burden",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}