Harpal Singh Cheema slams BJP as Taiwan’s market cap overtakes India. AAP leader warns of rising debt, inflation, and falling investor confidence.
Punjab Finance Minister Harpal Singh Cheema launched a scathing attack on the Bharatiya Janata Party-led Central Government over its handling of the national economy. The senior Aam Aadmi Party leader highlighted the latest global financial developments showing Taiwan’s total stock market valuation surpassing that of India, pointing to deep structural flaws and eroding investor confidence under the current regime.
Expressing deep concern over the shifting economic dynamics, Harpal Singh Cheema stated that a small nation with a population of barely 2.5 crore has managed to overtake a country of over 140 crore citizens in equity market value. He noted that India, which previously held a position as the world’s fourth-largest economy by gross domestic product size, has now experienced a visible slide down global rankings, an outcome he attributed to systemic mismanagement.
Rising Economic Distress and Investor Outflows
The Punjab Finance Minister Harpal Singh Cheema pointed out that instead of addressing critical questions regarding an evident economic slowdown, mounting national debt, and persistent inflation, the Union Government remains focused on concealing facts and presenting a misleading narrative to the public. He asserted that regular citizens are bearing the primary financial burden of these failed economic strategies.
Taiwan’s market capitalisation has now crossed that of India. A country of barely 2.5 crore people has overtaken a nation of 130 crore people. India, once the world’s 4th largest economy by GDP size, has now slipped to 6th position.
But instead of answering tough questions on…
— Adv Harpal Singh Cheema (@HarpalCheemaMLA) May 26, 2026
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Financial market indicators reveal that foreign portfolio investors have pulled substantial capital out of Indian equities recently, seeking opportunities in markets with stronger technological growth. This substantial capital flight has contributed to the domestic stock market facing a downward trajectory, contrasting sharply with the tech-driven surges observed in competing Asian manufacturing hubs.
Concerns Over Fiscal Integrity and Federal Rights
Harpal Singh Cheema connected these market vulnerabilities to broader governance choices, particularly pointing to the record dividend transfer from the Reserve Bank of India to the Centre. He argued that utilizing the central bank as a reserve treasury to artificially balance the fiscal deficit compromises the institutional resilience and long-term economic safety net of the country.
The Finance Minister Harpal Singh Cheema emphasized that economic surplus is generated by financial activity across all individual states, yet the windfall remains concentrated at the central level rather than entering the divisible pool of taxes. He concluded by stating that a resilient national economy cannot be built by bypassing cooperative federalism, weakening central financial institutions, or leaving state governments to navigate inflation and public welfare expenditures without their rightful share of national revenue.
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