Sensex nose dives from exploding budget deficits - the Great Indian depression has started with the new budget 2009-10
Sandhya Venkataraman
Jul. 6, 2009

the Union Budget did not go down well with the investors and the Sensex started collapsing right after the budget announcement.

The Sensex ended with a loss of 869 points at 14,043 following the Union Budget announced this afternoon.

India plans to borrow nearly Rs 4,00,000 cr from markets during 2009-10, a rise of about 50% over what it borrowed a year ago, to fund the widening fiscal deficit necessitated after stimulus doses for the economy. The effect is devastating for Indian economy and also the world economies.

government-run firms suffered a loss of over Rs 82,000 crore on a single day today with no significant announcement like FDI hike in some sectors or disinvestments in PSUs in the Budget 2009-10.

The market valuation of Bombay Stock Exchange PSU index eroded by Rs 82,316 crore to Rs 14,10,674.61 crore today against Rs 14,92,991.36 crore on Friday last week.

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