Current stock boom secular, says Jaswant Singh

New Delhi: The Finance Minister, Mr Jaswant Singh, told Parliament on Friday that the present buoyancy in the country's stock markets was `secular' and reflective of the "overall strength of the economy". And since the current boom, unlike earlier ones, was broad-based, there was no case for intervention by the Government.

"The Government doesn't believe in micromanaging the capital markets. We have become wiser from our experiences and we know that this buoyancy is secular," the Finance Minister said in the Lok Sabha.