Exit polls gave artificial booster dose to financial markets: Congress

Recalling Singh’s words, he said, “There is absolutely no need to panic in the market. Very soon the alliance will release its CMP. The CMP will reflect the commitment of the UPA to fiscal discipline, realistic growth-oriented tax policies, control over unproductive and wasteful public expenditure and greater emphasis on agricultural development, education, health, food security and social security in the context of a fast growing economy which is also getting integrated with the world.”

“The Congress is committed to the orderly and healthy development of financial markets that reflect the fundamentals of the economy. Our tax policies and foreign direct investment regime will be pro-growth and create a favourable environment for both Indian and foreign enterprises,” Ramesh said, quoting Singh.

What followed from 2004, he said, was “a fear-free and intimidation-free decade for the private sector – it was the decade of the highest GDP growth ever in India, as well as the highest private investment as a share of GDP.”

Early trends in the Lok Sabha elections on Tuesday showed a disappointing result for the BJP-led NDA. It is seen losing big in its strongholds Uttar Pradesh, Haryana and Rajasthan. However, it is expected to form the government with 290 seats.