Indian markets will bounce back: Fin Min

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SME Times News Bureau | 30 Sep, 2016
Indian financial markets will bounce back, and surgical strikes by the army to neutralise terror camps across the Line of Control (LoC) may even have a positive impact on the economy, India's Finance Ministry said on Thursday.

"Terrorism is the biggest threat to our financial and economic stability, and growth. So, decisive action against terrorism will spur growth," said Economic Affairs Secretary Shaktikanta Das soon after Finance Minister Arun Jaitley said India can repel any force that subverts peace.

Das added, "Terrorism is the biggest enemy of growth. The decisive action taken by the government to fight the menace will have very positive impact on country's economic and financial stability and growth."

Lauding the strikes by the army, Jaitley tweeted, "We are proud of Indian Army for taking pre-emptive action and repelling terrorists' attempt to destabilise peace and tranquillity in the region."

Key Indian equity indices took a sharp fall after 12.30 p.m. on Thursday, after the army said it had conducted surgical strikes on Wednesday night on terror launching pads across the Line of Control, inflicting "significant casualties". BSE ended with a loss of 465.28 points, or a 1.64 percent drop, at 27,827.53 points.