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Sensex tanks 2400 points, RIL logs worst fall in 10 years

09 Mar 2020
Mumbai, March 9 (IANS) The mayhem in domestic stock markets deepened with the BSE Sensex falling over 2,400 points and the Nifty50 trading below 10,400 points.
 
The plunge in the domestic indices was in line with the global markets on persistent fears of economic impact of the coronavirus epidemic.
 
Stocks of Reliance Industries registered the biggest fall in over 10 years as it fell to Rs 1,094.95 per share. At 1.34 p.m., it was trading at Rs 1,100, lower by Rs 170.05 or 13.39 per cent from its previous close. The stock fell most since October 2008.
 
The benchmark index of BSE Sensex was trading at 35,232.67 points, lower by 2,343.95 points or 6.24 per cent from the previous close of 37,576.62 points.
 
It had opened at the intra-day high of 36,950.20 and has so far touched a low of 35,109.18.
 
The Nifty50 on the National Stock Exchange was trading at 10,314.25 points, lower by 675.20 points or 6.14 per cent from the previous close.
 
It was a sell-off across sectors, led by financial, metal, energy and If the Left Front led by Communist Party of India-Marxist.
 
Highlighting his government's two-year performance, Deb said that in 2017-18, Tripura's per capita income was Rs 1.05 lakh. "Because of BJP regime's good governance, Tripura rose to 16th position from previous 21st position among 37 states and union territories in the country."
 
According to Tripura Chief Minister, Sikkim topped among the northeastern states in per capita income with Rs 3.17 lakh while Tripura is now at the second position among the eight northeastern states with Rs 1.54 lakh.
 
Deb claimed that after the completion of the five-year term of the BJP-led government, Tripura's per capita income would be Rs 2.26 lakh in 2022-23 and the GSDP Rs 95,46,333 crore. The state's current GSDP is Rs 63,466 crore against Rs 44,161 crore in 2017-18, when the Left Front was in power, he said.
 
"The BJP government has taken several steps to boost the state's economy by mobilising available resources. The total tax collection has increased from Rs 1,915 crore in 2017-18 fiscal to Rs 2,338 crore in the current fiscal (2019-20), a net increase of 21.82 per cent. National GST (Goods and Services Tax) collection is 3.7 per cent, but in Tripura this is over 10 per cent."
 
Deb, who pledged to make Tripura drugs-free, said that to save the young and future generations from the menace, his government after assuming office on March9, 2018 launched a war on drug trade, cultivation and smuggling.
 
"As Tripura has taken a lead among northeastern states in curbing drug menace, Union Home Minister Amit Shah has asked governments in the region to make northeast India a drugs-free are by 2022."
 
Deb, who holds the Home portfolio, said that the conviction rate in Tripura has increased to 47 per cent from 29 per cent and organised crime against women reduced by 10 per cent in two years.
 
"Crime against women in Tripura is 15 per cent less than the national average. To empower the women, 10 per cent posts in police department have been reserved for the women."
 
Deb said that the Tripura government had introduced 21 new schemes and taken many steps in two years to improve the quality of education, including introduction of NCERT (National Council of Educational Research and Training) curriculum.
 
The Chief Minister assured that his government would take steps to protect the jobs of 10,323 Tripura government teachers recruited during the previous government's tenure but now facing termination due to High Court and Supreme Court verdicts.
 
Regarding the expansion of eight-member Tripura council of ministers, Deb said that it would be done in due course of time.
 
(Sujit Chakraborty can be contacted at sujit.c@ians.in)
 

--IANS sc/tsb