PM allays fears on sensex crash

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New Delhi, Jan 21 (UNI) Prime Minister Manmohan Singh today sought to allay fears of an adverse impact of the sensex crash on Indian economy and assured that the growth of the capital market was the UPA government's priority.

''Orderly growth of our capital markets is a priority for our government...I want to assure Indian people that sustained growth is a priority concern of the government,'' the Prime Minister said at a press conference here.

The Prime Minister was speaking to reporters jointly with his British counterpart Gordon Brown after their talks at the Fourth India-UK Summit.

Asked what would be the impact of the sensex crash on the Indian economy, the Prime Minister said his government would ensure that markets grew in an orderly fashion.

Panic gripped investors as the BSE Sensex today fell by 1408.35 points or 7.41 per cent and the NSE Nifty closed was down by 496.5 points or 8.7 per cent, the biggest intra-day fall in the contry's history.


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