Stepping up his attack on Prime Minister Narendra Modi, Congress chief Rahul Gandhi on Wednesday said he won't become the PM again as people have lost faith in him.

Addressing a poll rally ahead of the third phase of Lok Sabha elections in Madhya Pradesh on May 12, Gandhi said Modi can't face the truth that he has failed to deliver on his promises.

"Let Narendra Modi say anything now, people have lost faith in him. He can no longer face the truth that the promises he made during the 2014 general elections have not been fulfilled," Gandhi said.

"Modi can't face the truth that he has delivered nothing, and instead taken away jobs of the poor and youth by his decisions like demonetisation and GST," he said.

Demonetisation was widely used to convert the black money into white by the most corrupt people in the country, Gandhi said.

"All the thieves in the country have converted their black money into white with the help of Prime Minister Narendra Modi," he said.

"The government led by Modi waived Rs 5.55 lakh crore debt of 15 people in the country, but he does not have similar sympathy towards farmers or the youth. If a farmer turns out to be defaulter, the lenders ensure he ends up in jail. Once the Congress government comes to power, we will frame laws to ensure that farmers won't be jailed for defaulting on loan repayments," he said.

Gandhi accused Modi of "never speaking" to the common man, the poor and women in the country.

"Modi went abroad and met several industrialists and was also seen greeting and hugging people, but I will never ever hug Anil Ambani. I will stay with the poor people of this country," Gandhi said.