The Congress Vice-President asked the people if they saw anyone "suited and booted" standing in queues to deposit money in the wake of last year's demonetisation.
"Through the back door, the money of all the thieves in India was converted into white right under Modiji's nose," Rahul Gandhi said.
Gandhi also said that Modi had promised in his election speeches of 2014 to create 20 million jobs every year and to ensure that farmers get the right returns for their produce.
"Is this happening?" Gandhi asked loudly. In response, the crowds roared back: "No, no."
"The Prime Minister's words should carry weight. Modiji's words no longer carry any weight because he has been lying through his teeth on every promise he made," Gandhi added to cheers.
He said the people had seen through it all and would not be misled this time.
Gandhi asserted that Modi was nervous and afraid of losing the Gujarat Assembly elections and so was changing his narrative every time.
"I have heard and analysed Modiji's speeches. He devotes half the time to the Congress though Modiji claims that he has finished off the Congress," Rahul said.
"And he devotes the rest of the time of his speech to speak about himself," he added.
"Where has suddenly your tall talk of development vanished? You have little to report of the last 22 years of BJP government in Gujarat. This is why you need all this, Modiji," Rahul said.
Rahul Gandhi promised that if the Congress came to power in Gujarat, "we would come out with a policy to exempt farmers' dues, ensure that the primary responsibility of the government is on education and health and to bring down unemployment."
Rahul reiterated that the election was neither about him nor Modi but about the future of Gujarat and Gujaratis.
He also said that although Modi used foul language against him, he would never resort to such language.
"The Prime Minister uses foul language against me but I will never do that because Rahul Gandhi respects the office of Prime Minister," Rahul said.
"I am not going to utter a single word against the Prime Minister. This is what our party, Mahatma Gandhi and Sardar Patel have taught us," he added.
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