By elections in Karnataka: Who’s responsible?
Election commission has declared elections in the states of Madhya Pradesh, Chhattisgarh and Rajasthan, along with three Lok Sabha constituencies in Karnataka. Mandya, Ballari and Shivamogga districts will have to face an unexpected election before they go to polls again in the next five months owing to this decision. The elected representative will last for a term of only a few months before the new one is chosen. Isn’t this a little expensive to use resources just so that the whole process has to be repeated again? As per the EC, three Lok Sabha seats have been lying vacant since the last few months so conducting the election is inevitable. But the question that arises right now is the usefulness of a candidate who’d be elected for a matter of few months.
Many political parties and politicians have voiced their opinions regarding this. How committed would this few months’ MP be, in his/her service to his voters? No sooner does he/she begin the work, there would be a poll code for 2019 elections. At best, this election would be a preparation ground for the forthcoming one. And officers would rule the roost for all that while in these constituencies. Two visits to Delhi and the MP would be home again ending his/her term. Isn’t this an insult to the democracy? Voters and the entire ecosystem would be taken for granted with this. Who are those people who made the elections inevitable at this moment? Instead of blaming something as hazy as a ‘system’, we need to identify persons who used the system to their convenience and pushed people into this inevitable phase.
When elected representatives meet with a sudden death, an election is understandable. But in this case, the elections have been imposed on people owing to vested political gains. Those who wanted to continue in state politics, why did they contest for Lok Sabha seats at all? Why did they assure their voters things that they could never fulfil? When they resign after such long drawn process, isn’t that much like cheating on his/her own people? Whoever wins these effectively temporary seats may contest again in the 2019 elections for sure. This irresponsibility has to end with immediate effect.
One candidate should not be allowed to contest from two seats of different or same houses so as to avoid investment of men and machinery later, to uphold democracy. If a candidate makes a decision of vacating one seat owing to his fancy, the EC has to make him pay up the expenses of conducting elections unless there’s a tangible reason to his vacating the seat. Because when people contest the elections that they made inevitable, and contest for the same seat in the same phase from two parties, he/she is mocking the democracy and nothing less. This has to be controlled and stopped to ensure candidates don’t get away with their powerful whims. Else, such operations will cost a lot of resources for the state and the agencies in repeated instances in the near future.
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Rupee hits all-time low for second time in a week
Mumbai (PTI): The rupee depreciated 31 paise to settle at 91.99 against the US dollar on Wednesday, touching the lowest closing level for the second time in less than a week, amid increased month-end demand for the greenback.
Forex traders said the rupee opened higher as the US dollar index softened and a long-awaited trade breakthrough with Europe offered quiet reassurance. However, increased month-end demand for the American currency as well as the ongoing geopolitical tensions dented investors' sentiments.
At the interbank foreign exchange, the rupee opened at 91.60 and touched an early high of 91.50, but pared all the gains to touch an intra-day low of 91.99 against the greenback.
The domestic unit settled 31 paise down, revisiting its lowest-ever closing level of 91.99 against the greenback. The Indian currency previously ended at this level on January 23 when it also hit its all-time intraday low of 92 against the US dollar.
On Tuesday, the rupee rebounded from its all-time low levels and gained 22 paise to close at 91.68 against the US dollar.
Analysts said the rupee opened higher as the US dollar index softened and a long-awaited trade breakthrough with Europe bolstered investor sentiment.
India and the European Union on Tuesday announced the conclusion of negotiations for the free trade agreement (FTA), under which a number of domestic sectors such as apparel, chemicals and footwear will get duty-free entry into the 27-nation bloc, while the EU will get access to the Indian market at concessional duty for cars and wines, an official said.
The deal has been dubbed the "mother of all deals" as it will create a market of about 2 billion people.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.07 per cent lower at 96.14.
Brent crude, the global oil benchmark, was trading 0.43 per cent lower at USD 67.28 per barrel in futures trade.
On the domestic equity market front, Sensex jumped 487.20 points to settle at 82,344.68, while Nifty surged 167.35 points to 25,342.75.
Foreign Institutional Investors turned net buyers and purchased equities worth Rs 480.26 crore on Wednesday, according to exchange data.
