'No Confidence Motion' by Sensex on Modi's budget: Rahul
Congress President Rahul Gandhi
today took a dig at Prime Minister Narendra Modi over the
Budget, saying the stock market has given a "no confidence
motion" against it, after the Sensex fell by over 800 points.
"In Parliamentary language, the Sensex just placed a
solid 800 point 'No Confidence Motion' against Modi's budget,"
He also used the hashtag "BasEkAurSaal" along with his
tweet while noting that only one more year of the Modi
government is left.
Gandhi had yesterday alleged that in four years, the NDA
government led by Narendra Modi had not provided any jobs and
made several promises including those to farmers and youth.
"4 years gone; still promising FARMERS a fair price. 4
years gone; FANCY SCHEMES, with NO matching budgets. 4 years
gone; no JOBS for our YOUTH. Thankfully, only 1 more year to
go. #Budget2018," he tweeted yesterday.
Benchmark Sensex of Bombay Stock Exchange suffered its
worst rout in more than two years today as the Budget
proposals on taxing equities torpedoed investor sentiment.
The 30-share sensitive index plummeted 840 points -- its
biggest single-day slump since August 24, 2015 -- while the
broader NSE Nifty tanked over 250 points to finish below the
Investors saw a wealth erosion of more than Rs 4.5 lakh
crore as stocks went into a free-fall.
The Budget 2018-19 presented on Thursday imposed long-
term capital gains tax of 10 per cent on equities. Investors
will also have to pay 10 per cent tax on distributed income
from equity-oriented mutual funds.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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