SUSTAINING INDIA'S GROWTH MOMENTUM: QUALITY EXPENDITURE WITH FISCAL CONSOLIDATION WOULD BE THE KEY
- Credit Rating Agency in India
- Economy Overview
- SUSTAINING INDIA'S GROWTH MOMENTUM: QUALITY EXPENDITURE WITH FISCAL CONSOLIDATION WOULD BE THE KEY
In a complete contrast to the exit poll, the Bharatiya Janata Party (BJP) lost its single-party majority in parliament, in the 2024 Lok Sabha election results. The loss of majority leaves BJP dependant on its NDA allies, both major like Telegu Desam Party (TDP) and Janata Dal (United), or JD-U as well as minor ones like Lok Janshakti Party (LJP).
The Stock market indices closed nearly six percent lower on 4th June’24, the day on which the election results have been declared. There was a 4390-point crash in Sensex and ? 31 lakh crore wealth annihilation. India’s Volatility Index or VIX stands at 26.74, a 27.75% increase. Many PSU stocks declined due to uncertainty regarding future disinvestment scenario and related reforms. Multiple Nifty indices crashed.