On a day investors lost more than Rs 8.47 lakh crore as the stock market continued the free fall, former Union finance minister and TMC leader Yashwant Sinha came out with a warning, saying "the collapse of the stock and rupee markets today is only a beginning."
Taking to Twitter, he said on Monday that India is facing multiple crises under Prime Minister Narendra Modi. "Now global factors have taken over. We are in for very bad days with a govt which has no idea of what to do. The collapse of the stock and rupee markets today is only a beginning. Fasten your seat belts." he wrote.
The stock market remained in deep red for the second straight session after heavy sell-off on Friday. Sensex plunged 1,747 points while Nifty-50 plummeted 531.95 points or 3.06 per cent to 16,842.80.
A few days ago Sinha, former Union minister in the Atal Behari Vajpayee government, had predicted that BJP would lose heavily in western UP and claimed that it might just win 20 out of 58 seats which went to the polls on February 10. He had also alleged BJP wants to retain power by polarising the electorate on issues such as Hindu-Muslim-Christians, Jinnah and Pakistan.
