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Rs 12.5 lakh crore of investor wealth lost due to Modi govt: Congress

Wednesday, September 11, 2019 • Telugu Comments

Rs 12.5 lakh crore of investor wealth lost due to Modi govt: Congress

With a media report saying that Rs 14 lakh crore of equity investors’ wealth has been lost since the NDA won a huge mandate on May 23, the Congress party has trained guns on the Narendra Modi sarkar. 

"Despite their promise of protecting wealth creators, the govt's disastrous policies have wiped away Rs 12.5 lakh crore of investor wealth in the last 100 days. Unlike the FM's excuses, these are the real reasons for it: Demonetisation, GST, Tax Terrorism," the opposition party today said.  

The July 5th Budget, presented by Nirmala Sitharaman had imposed surcharge on FPI investment.  It caused much damage to market sentiment, coupled with the economic slowdown and depreciating rupee.  Although the decision has since been reversed, the damage had been done.

"As many as 2,290 of the 2,664 actively-traded stocks on BSE lost up to 96 per cent of value.  The combined market value of the BSE-listed stocks has fallen by Rs 14.15 lakh crore to Rs 140 lakh crore during this period," says an Economic Times report.

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