As Rupee Sinks to All-time Low, Piyush Goyal Says it is Going Through a 'Golden Run'
New Delhi, Oct 05: As the Indian rupee dipped further on Friday, Minister of Railways Piyush Goyal said this is the best period for the Indian rupee in the last 15 years.
"Rupee has only depreciated 7 percent in the last 5 years. This is the best period for the Indian rupee. It's a golden run," said Goyal while speaking at the Hindustan Times Leadership Summit.
The rupee has been depreciating since March this year. However, at the end of August, currencies such as Russian Ruble, Japanese Yen, the South Africa's Rand and the Mexican Peso have all had double digit depreciation against the US Dollar.
Rupee slumped to a lifetime low of Rs 74 against the US Dollar on Friday.
The senior BJP leader said that the nature of jobs in India is changing and that only government jobs could not provide growth.
"Nature of jobs in the world is changing. Everybody wanted to join railways, government before but now entrepreneurial ideas are coming up," added Goyal.
"If you are driving an Uber in Delhi, you are providing a service. This government is encouraging entrepreneurship and innovation," said Goyal.
Piyush Goyal added that he wanted to revive the charm of the Railways.
"It’s been 366 days since I took over as Railways minister. I have had one mantra - To bring the charm back to rail travel", said Goyal.
RBI governor Urjit Patel also said on Friday the domestic currency is still better than its emerging market peers and that the apex bank does not have a target for it.
Patel, while addressing the media after the customary post-policy press conference, admitted that the country has not been immune to global spillovers from external factors.
"The rupee fall, in some respect, is moderate in comparison to several other emerging market market peers," he said.
Patel ruled out a target for the currency and said, "Our response to these unsettled conditions has been to ensure that foreign exchange market remains liquid with no undue volatility. There is no target or band around any particular level of exchange rate, which is determined by market forces demand and supply."
Courtesy: www.news18.com
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CM Siddaramaiah alleges ‘criminal conspiracy’ in Sringeri recount, vows legal action
Bengaluru (PTI): Alleging a “criminal conspiracy” by BJP candidate D N Jeevaraj in the Sringeri Assembly poll recounting, Karnataka CM Siddaramaiah on Tuesday said the outcome was manipulated after valid postal ballot votes in favour of Congress leader T D Raje Gowda were tampered with during the recounting process.
Following a Karnataka High Court order on an election petition filed by Jeevaraj, challenging Raje Gowda’s election, the reverification and recounting were conducted on Saturday.
After the reverification and recount of postal ballots for the Sringeri Assembly constituency, votes polled in favour of Raje Gowda were reduced by 255, the returning officer said.
A report on the matter has been submitted to the Election Commission of India for further action, the officer added.
Congress leader Raje Gowda had won the 2023 Assembly polls from Sringeri by 201 votes, defeating his nearest rival Jeevaraj.
Addressing a press conference in Bengaluru, Siddaramaiah said the High Court had directed the recounting of postal ballots and that irregularities were noticed during the exercise conducted on May 2.
“This is a clear case of criminal conspiracy,” Siddaramaiah said, alleging that valid votes cast in favour of Raje Gowda were altered after being accepted by counting agents of all parties, including Congress, BJP, and JD(S).
He claimed that during the recounting of postal ballots, 255 votes were initially accepted as valid by all agents but were later tampered with by subordinate officials.
“There is a second mark on the votes polled in favour of Raje Gowda. They had accepted these as valid votes. Subsequently, another mark was made by officials. This is a clear case of criminal conspiracy,” he said.
When asked who was behind the alleged conspiracy, the CM replied, “It was hatched by Jeevaraj and others. It is planned.”
Siddaramaiah further alleged that the returning officer acted improperly by declaring the result despite the presence of an Election Commission observer during the recounting.
“Immediately after the counting, the returning officer announced the result. He should not have done so; this is against the law,” he said.
He pointed out that Raje Gowda had originally won by 201 votes, but after the recounting, the BJP candidate was declared the winner by 52 votes.
“The BJP has committed a criminal act of conspiracy. This is not vote chori but vote dacoity,” he alleged.
The CM said a police complaint had already been filed by Raje Gowda’s election agent, Sudhir Kumar, and emphasised the need for electoral integrity.
“We want transparency and free and fair elections. That is what our Constitution mandates,” he added.
Stating that the government would pursue legal remedies, Siddaramaiah said, “We are preparing an appeal challenging the returning officer’s announcement in a court of law.”
Responding to a separate query on elections in other states, the CM said there appeared to be an anti-incumbency factor in West Bengal, while results in Tamil Nadu were “surprising,” adding that Vijay’s party was emerging as the largest there.
Following the victory of party candidates in Bagalkote and Davanagere South, Siddaramaiah expressed confidence about future electoral prospects in Karnataka.
“Even in 2028, we will win the Assembly elections. We will come back,” the CM said.
Siddaramaiah added that he would order a forensic examination into the alleged tampering of postal ballots.
