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BSE (Bombay Stock Exchange)

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BSE (Bombay Stock Exchange)
#28
<b>Press statement of Shri Arun Jaitley</b>


The strength of democracy is that Indian elections entail peaceful changes. A change in the Government has taken place. The NDA and the BJP have gracefully accepted the change. Therefore, there should be no reason for any panic in the society including the capital market.

A growth of capital market is vital for India's economy. Over the last six years of the NDA's Rule several capital reforms have taken place, which have strengthened the investors confidence in investment.<b> The Left Parties in India have won 60 odd seats in the Lok Sabha. The Left Parties have not been given mandate to rule this country on the strength of their communist ideology. There is no vindication of left economic policies by the electorate throughout the country</b>. Unfortunately outlandish statements by certain Left Party leaders indicate an attempt of their position in holding the balance of power. The statements indicate excessive political pressure on those drafting the agenda of the new Government. Some of the statements are on economic adventurism. These statements have adversely influenced the sentiments of the market and has sent negative signal to the investors.

The governance is a serious business. We hope those who are drafting agenda of the new Government will resist these pressures coming from those who wish to exercise powers without responsibility.

<b>The BJP ridicules the allegation made by certain Congress and Left Party leaders that the BJP is responsible for the fall in the stock market. Instead of analysing the reasons for the fall and if the Leaders of the future Government are indulging in such reckless allegations, it only shows their lack of understanding of the economy and the capital market.</b>
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