BJP seeks govt action to protect small investors

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New Delhi, Mar 19 (UNI) Attributing the stock market crash by over 6,000 points to withdrawal of funds by foreign institutional investors(FIIs) and "terrorists", the BJP today demanded prompt government action to protect the interests of crores of small investors who lost heavily due to the unprecedented plunge on the bourses.

Raising the issue during the zero hour in Lok Sabha, party deputy leader Vijay Kumar Malhotra claimed that small investors have lost money equivalent to country's gross domestic product (GDP).

Recalling that the Prime Minister said he could not lose sleep over ups and downs in the stock market and Finance Minister P Chidambaram attributed the crash to happenings in the United States, the BJP leader further claimed that the Union Budget 2008-09, too, had impacted the stock market.

He said the government also did not do anything when the U S dollar was weakening and there was nothing in the Budget for exporters.

Stating that his party had earlier warned of inflows of funds by FIIs and "terrorists" in the Indian stock market, Mr Malhotra said now that they had withdrawn their funds it has led to crash in the market. He urged the government to act promptly to protect small investors.


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