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Congress slams government over markets crash

Congress slams government over markets crash

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  11 March 2020 9:25 AM GMT

New Delhi: The Congress has slammed the government as the BSE Sensex on Monday plunged 1,943 points to close at 35,634.95 and the Nifty ended the day at 10,451.45, down 538 points.

The plunge is said to be in line with the global markets on the persistent fears of the economic impact of the coronavirus epidemic.

“India’s stock market and economy witnessed unprecedented crisis on Monday with the stock markets recording its worst single-day fall, wiping out Rs 6 lakh crore. The rupee has fallen to Rs 74.04 to a US dollar, which is the steepest fall or the lowest in the country’s history,” said Congress spokesman Randeep Singh Surjewala.

“We also saw crude oil falling to an all-time low of $32 a barrel, but petrol and diesel continue to be sold in India at Rs 74 and Rs 64 per litre, respectively,” he said.

The party also criticized the unprecedented hike in insurance premiums on scooters, motorcycles and small cars. In the banking sector crisis, Surjewala said, “We first saw IDBI Bank sink in the Narendra Modi regime, then PMC Bank, followed by IL&FS crisis. Now we have seen Yes Bank sinking and people losing their entire money.”

The Congress alleged Modi and his media friends were trying to divert the public attention, by attempting, in a conspiratorial manner, to raise the sale of a painting 10 years ago, by Priyanka Gandhi Vadra for Rs 2 crore duly disclosed in her income tax return.

They must stop the diversionary tactics, the smoke screens and fooling people, he added.

The Congress spokesman said the government must clarify to the people three issues — how did Yes Bank sink, who was responsible for letting it sink and people’s earnings go down the drain, was the Modi government sleeping or was it complicit in a deliberate sinking of the bank? (IANS)

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