Mixed bag

The operation was successful but the patient died. That is what happened on the day the budget was presented. Only now do the investors realize the advantage of having P. Chidambaram as the finance minister.

The Bombay Stock Exchange Sensex dropped by 900 points while the finance minister was presenting his budget. The stock market rejected Pranab Mukherjee’s proposals, causing huge loss to investors. The biggest one-day drop in the Sensex in six months after the annual budget is not at all good news for the Union ministry. The fall of the Sensex on Monday after the budget sent shudders through the Indian economy. Investors can now be sure that they do not have much to expect from Mukherjee.

K A Solaman
The Telegraph, Calcutta 10 July 09