Chidambaram 'amused' at suggestion of next government driving market


Our Correspondent : Wednesday, 25 March 2014
Sivaganga, Tamil Nadu:
Finance Minister P Chidambaram today rejected media analysis that the "hope" of a stable government after elections is bringing in investments as well as driving up the capital market and the value of rupee.
"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," he said.
Mr Chidambaram, who is on a campaign here in support of his son Karti for the Lok Sabha elections, said, "If there is any hope that is driving the market, I believe it is the hope that the new government will follow the ten-point agenda that I had spelt out in my Interim Budget speech on 17.2.2014".
A number of brokerage firms and analysts have attributed the spike in the capital market and the appreciation the rupee against the dollar to "hope" of a stable government post elections.
"I can assure the people and the investors that a Congress-led government will faithfully implement the ten-point agenda," Mr Chidambaram said.