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![An Indian boy, with his face covered to protect himself from the sun, sells sunshades for car windows on a roadside in Jammu, India, Saturday, June 14, 2014 [AP]](http://thebricspost.com/wp-content/uploads/2014/06/AP409877560227.jpg)
An Indian boy, with his face covered to protect himself from the sun, sells sunshades for car windows on a roadside in Jammu, India, Saturday, June 14, 2014 [AP]
The benchmark BSE Sensex plunged 104 points in morning trade today with shares of capital goods, power, realty, banking, consumer durables and auto sectors down on heavy selling pressure.
The Indian stocks have experienced some ups and downs over the past few sessions, following weeks of euphoria in the wake of the coming to power of the new government.
The India rupee fell below the 60-level against the American currency after a gap of over one month by dropping 28 paise to 60.05 on sustained dollar demand from importers.
The local currency moved in a range of 59.80 and 60.05 per dollar during the morning trade today. It had last traded at 60.05 on May 12, 2014.
One of the first challenges of the new Indian government would be while presenting the federal Budget next month to show the country can realistically contain its fiscal deficit.
The government also has to prepare for below average rainfall in the June-September monsoon that could trouble Indian agricultural output, leading to a spike in consumer inflation.
The new Indian Prime Minister Narendra Modi said last week that the country will have to brace for some “tough economic decisions” to improve its financial health.
TBP and Agencies
