Indian shares plummet after Brexit, govt. prepares itself

New Delhi: Indian share market is facing a dramatic impact, as Britain makes a historic and monumental decision to move out of the 28-member European Union (EU). There has been a sharp decline in the value of rupee, once the EU referendum indicated that the ‘leave’ votes are slightly more than ‘remain’. The BSE Sensex lost 1034 points to quote at 25,968 and the Nifty shed 328 points to trade at 7,942. "The government is prepared for all eventualities. As far as the stock markets are concerned, it is an initial reaction, because what is happening is going against their expectations," stated the Economics Affairs Secretary, Shantikanta Das. "Yesterday, the market probably believed that the exit (by UK) will not happen and today the exit looks a distinct possibility going by current trends," he added. Das further told the media  that the government, the finance ministry and the Reserve Bank of India have been working on this issue. "We have discussed all the possible eventualities of the Brexit over the last several weeks and we are prepared to deal with the situation as it is an emergency," he added. The Union Finance Minister Arun Jaitley, who is currently in Beijing, is constantly and regularly monitoring the situation. According to Das, he is giving required directions at regular intervals. "The markets hopefully will improve in coming days," stated Das. According to reports, U.K.’s anticipated referendum results has caused the Indian rupee to head towards it’s biggest decline since 2013. The rupee has already lost one percent in opening trade.