LS poll: Modi will be ex-PM on May 23, claims Ahmed Patel
Vadodara: Narendra Modi will become ex-Prime Minister on May 23 when the Lok Sabha results are declared, senior Congress leader Ahmed Patel said here.
He said the people were "harassed" by the ruling BJP with its policies and would be voted out in the April-May Lok Sabha polls.
Patel, a Rajya Sabha MP from Gujarat, expressed confidence that the Congress would win between "12-15" out of the 26 Lok Sabha seats in Gujarat.
In the 2014 Lok Sabha polls, the Congress had drawn a blank in Gujarat.
"The people are harassed by the ruling party's policies but the BJP is trying to paint a rosy picture. But people are not going to be mislead this time," Patel said Monday while attending a private function here.
"Narendra Modi will become ex-PM on May 23 when the Lok Sabha results are declared," he said, adding that the opposition parties' "mahagathbandhan" will choose its prime ministerial face after winning the general polls.
He also hit out at the BJP for its nationalism and terrorism planks during the poll campaign, saying the ruling party need not advise the Congress on the two issues.
"Congress leaders have sacrificed their lives fighting terrorism. The BJP need not give us lessons on how to fight terrorism. The BJP might see politics in terrorism," he said.
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Rupee falls 20 paise to 95.43 against US dollar in early trade
Mumbai (PTI): The rupee depreciated 20 paise to 95.43 against US dollar in early trade on Tuesday as market sentiments remained fragile after renewed military exchanges between US and Iranian forces in the Gulf region.
Forex traders said investor anxiety due to instability in the Gulf is causing massive capital flight into safe-haven assets, with the US dollar acting as the primary beneficiary.
Moreover, Brent oil prices is hovering near USD 113 per barrel, maintaining pressure on oil-importing economies like India.
At the interbank foreign exchange market the rupee opened at 95.30 then lost ground to touch 95.43 against the US dollar, in initial trade, registering a fall of 20 paise over its previous close.
Rupee fell 39 paise to close at an all-time low of 95.23 against the US dollar on Monday.
"With oil boiling rupee on Monday fell to a closing low of 95.0875 and this morning the opening was still lower as it becomes more and more vulnerable when dollar index rises due to safe-haven buying and oil prices rise due to the continuous fighting in the Gulf Region," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.
The higher oil prices will keep rupee sold off against the dollar as oil companies and FPIs intensify dollar buying, Bhansali added.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 98.51, up 0.15 per cent.
Brent crude, the global oil benchmark, was trading lower by 1.07 per cent at USD 113.22 per barrel in futures trade.
"Market sentiments remained fragile after renewed military exchanges between US and Iranian forces when Iranian forces launched fresh attacks in the Gulf as both sides sought to assert control over the strategic waterway," Bhansali said.
On the domestic equity market front, Sensex declined 361.62 points to 76,907.78 in early trade, while the Nifty dropped 134.90 points to 23,980.60.
Foreign Institutional Investors purchased equities worth Rs 2,835.62 crore on Monday, according to exchange data.
