Indian economy robust: FinMin

On a day when the Sensex bled to its lowest level in 21 months, the finance ministry said the Indian economy was relatively 'robust' and the performance of domestic stock markets was better than that of other nations.

Attributing the plunge in the stock markets to external factors, Economic Affairs Secretary Shaktikanta Das said that the Centre was prepared to deal with the challenges arising out of volatility and stressed that 7.6 per cent gross domestic product growth projected by the Central Statistics Office for FY16 was "noteworthy and significant".

"Over the last few days the NSE and BSE have experienced a lot of volatility. The decline in our markets is comparable to the rest. India is not an exception, but it is better off than other markets," he said.