Sensex crashing a ‘No Confidence Motion’ against Budget 2018: Rahul Gandhi

Sensex crashing a ‘No Confidence Motion’ against Spending Plan 2018: Rahul Gandhi


NEW DELHI: Congress president Rahul Gandhi on Friday utilized’parliamentary language’ to mock the Centre’s Budget plan 2018, informing the Prime Minister Narendra Modi-led federal government that the Sensex crashing 800 pointswas a” No Self-confidence Motion “against it. In Parliamentary language, the Sensex just placed a solid 800 point No Self-confidence

Motion versus Modi’s budget plan. #BasEkAurSaal– Workplace of RG (@OfficeOfRG) 1517578361000 A’No Self-confidence Movement’in Parliament can only be presented only in the Lower Home, that is, the Lok Sabha, and is permitted just when a minimum of 50 members support it. Such a movement, if passed, makes it obligatory for the government at the Centre to vacate workplace. The Sensex today fell almost 840 indicate end the day at

35,066.75, the most significant single day fall of the index given that August 24, 2015, when it had fallen by

1,624.51 points, reported PTI. Financiers lost Rs 4.6 lakh crore in the middle of enormous selling in the stock exchange.”The major part these days’s correction can be credited to the spending plan announcement of imposition of

long term capital gains tax on equity, introduction of tax on dispersed income by equity
oriented mutual funds and financial slippage. The move amazed the Street as a lot of participants were factoring in a modification in definition of Long Term to two or 3 years from a year,”Devang Mehta, Head-Equity Advisory, Centrum Wealth Management, informed PTI.( With inputs from PTI )From around the web

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