Congress questions Centre's economic policies, says fall in Sensex is 'unprecedented'

The Congress on Monday questioned the NDA government's economic policies after the 30 share Sensex at the Bombay Stock Exchange (BSE) plummeted by 1,625 points today, saying that the fall in the stock market index was 'unprecedented'.

"On one hand rising inflation is troubling people and on the other the Sensex has fallen in an unprecedented manner. The investors had to bear losses up to Rs. seven lakh crore in a single day. This is the first time in eight years that sensex has fallen so much...In 2008, when the there was a slowdown in global economy, then Manmohan Singh-led UPA government had ensured that India remains unaffected. The growth rate then was 8.5 percent," Congress leader Ajoy Kumar told media here.

"If you look at Finance Minister Arun Jaitley's statements, then this government sometimes blames China for economic slowdown and sometimes they blame Greece, and when nothing else remains then they blame the opposition," he added.

The BSE Sensexfell by 1,625 points or nearly six per cent today making it biggest percentage fall since 2009. At one stage, the Sensex crashed by over 1,200 points, for its biggest intra-day fall in seven-and-a-half years.

Similarly, the National Stock Exchange (Nifty) slumped 339 points, to 7,961 in afternoon trade.

Meanwhile, Rupee decreased to below the Rs.66 level against the dollar for the first time in almost two years in opening trade today.