Share market's plunge wiped out wealth that equals 40% of GDP, 7 times India’s fiscal deficit
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The drastic fall in the share market and trading sector that hit Sensex badly amid the coronavirus outbreak has already wiped off equity wealth equaling 40% the size of India’s gross domestic product (GDP) for the financial year gone by. The wealth erosion has been three times the total receipts that the government had estimated for the current financial year and double the expenditure it has budgeted for the new financial year.