 "Markets rising in anticipation of political change: Jaitley")
Taking a dig at Finance Minister P Chidambaram, senior BJP leader Arun Jaitley today said the stock markets are rising in expectations of political change and not because of the policies of the UPA government.
"In last few days, there is a revival in stock market and the observation in the entire world is that FIIs are looking towards India as they hope there will be political change and government here will be formed under leadership of (Narendra) Modi," he said.
Jaitley, who is contesting for the Lok Sabha from the holy city, was responding to recent statement of Chidambaram which attributed the stability in the capital and currency markets to the measures taken by the UPA government in the last 18 months.
"It is not 'hope', but the 'fact' of a stable government provided by the UPA and the numerous measures taken in the last 18 months that have provided stability and strength to the Indian economy."
The BJP leader, however, claimed that whenever foreign investors are asked why they were going to India, they say "we anticipate a political change, so we are optimistic."
Today, he said, "if there is some silver lining or ray of hope, it is because there is a likelihood of political change in the country. And if Congress party's ego is still so high that they cannot see reality, then we don't want to say anything in this regard."
The stock markets today rose for the fourth consecutive day and has risen to record high levels intra-day. The BSE Sensex closed at a lifetime closing high of 22,214.37 points on sustained FII buying.
The Indian rupee appears to be stabilising around 60 to a dollar as against a record low of 68.85 to a dollar in August last year.
Replying questions on Foreign Direct Investment (FDI), Jaitley said that "BJP will welcome FDI in sectors like infrastructure which is good for the country. However, he said the party was opposed to FDI in multi-brand retail.
"In last few days, there is a revival in stock market and the observation in the entire world is that FIIs are looking towards India as they hope there will be political change and government here will be formed under leadership of (Narendra) Modi," he said.
Jaitley, who is contesting for the Lok Sabha from the holy city, was responding to recent statement of Chidambaram which attributed the stability in the capital and currency markets to the measures taken by the UPA government in the last 18 months.
More From This Section
Chidambaram had earlier this week said: "I am amused to read in some sections of the media that it is the 'hope' of a stable government that is bringing in investments and driving up the capital market and the value of the rupee.
"It is not 'hope', but the 'fact' of a stable government provided by the UPA and the numerous measures taken in the last 18 months that have provided stability and strength to the Indian economy."
The BJP leader, however, claimed that whenever foreign investors are asked why they were going to India, they say "we anticipate a political change, so we are optimistic."
Today, he said, "if there is some silver lining or ray of hope, it is because there is a likelihood of political change in the country. And if Congress party's ego is still so high that they cannot see reality, then we don't want to say anything in this regard."
The stock markets today rose for the fourth consecutive day and has risen to record high levels intra-day. The BSE Sensex closed at a lifetime closing high of 22,214.37 points on sustained FII buying.
The Indian rupee appears to be stabilising around 60 to a dollar as against a record low of 68.85 to a dollar in August last year.
Replying questions on Foreign Direct Investment (FDI), Jaitley said that "BJP will welcome FDI in sectors like infrastructure which is good for the country. However, he said the party was opposed to FDI in multi-brand retail.