BJP setting new benchmark of immoral politics to capture power in state: HD Kumaraswamy
Calls on disgruntled MLAs to attend assembly session and narrate how they were forcefully taken away
Bengaluru: Karnataka Chief Minister HD Kumaraswamy on Sunday expressed ‘pain and disgust’ over the political scenario of the state and blamed the BJP for stooping new low and setting ‘new benchmark of immoral politics’, ahead of the crucial trust vote in the assembly that is expected to take place on Monday.
In a press release the Chief Minister of the state added that the BJP has made a mockery of the democracy by ‘taking away several MLAs from the ruling coalition forcefully. He also cited TV footages that show BJP leaders accompanying the rebel MLAs to Mumbai in special aircrafts, adding that the BJP had switched to immoral politics to capture power in the state.
“T he BJP has been demanding that I must resign immediately and has even got the Raj Bhavan to set deadlines for putting the confidence motion into vote. I want to make it amply clear that I am not trying to cling onto power. My only intention of seeking time for debate on trust vote is to let the entire country know how the BJP, which talks of morality, is trying to subvert the very principles of democracy as well as Constitution” the press release added.
The JD(S) leader also appealed the disgruntled MLAs who have camped in Mumbai to come back and attend the legislature session to narrate in the assembly how they were forcefully taken away by the BJP.
“I request them to explain on the floor of the House how the BJP sabotaged democratic edifice and destroyed its sanctity” the press release read while also calling on the MLAs to ‘sit together and discuss’ all the issues including their problems to save the government which he termed as ‘democratically elected’ a claim opposed by the BJP.
“Let us strive together to save democracy and protect the spirit of Country’s Constitution from these evil forces who are willing to destroy any democratic and constitutionally established institutions for the sake of power” Kumaraswamy’s press release added.
Karnataka is expected to see another day of drama in the assembly on Monday as BS Yeddiyurappa led opposition demanding immediate trust vote.
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Rupee strengthens past 90/USD level in early trade
Mumbai (PTI): The rupee appreciated 24 paise to 89.96 against the US dollar in early trade on Friday, supported by corporate dollar inflows and easing crude oil prices.
Forex traders said the gain in the USD/INR pair follows the rupee’s string of record lows in recent weeks on likely intervention from the Reserve Bank of India.
Moreover, crude oil prices hovering around USD 59 per barrel level supported market sentiment.
ALSO READ:Rupee trades in narrow range against US dollar in early trade
At the interbank foreign exchange market, the rupee opened at 90.19 against the US dollar, then gained some ground and touched 89.96 against the US dollar, registering a gain of 24 paise over its previous close.
In initial trade it also touched 90.22 against the American currency. On Thursday, the rupee appreciated 18 paise against the US dollar to close at 90.20 against the greenback.
The rupee sank to a fresh record low, breaching the 91-a-dollar mark for the first time on Tuesday.
"Since the speculators are out of the market the buying of US dollar syndrome has come down a bit though intra-day we could see spikes," said Anil Kumar Bhansali Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
The US CPI came lower than expected but was also due to non-collection of sufficient data and therefore, the next month’s CPI becomes more important, Bhansali said, adding that "Rupee remains in a range of 90-90.50".
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.04 per cent higher at 98.46.
Brent crude, the global oil benchmark, was trading lower by 0.27 per cent at USD 59.66 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex climbed 375.98 points to 84,857.79, while the Nifty was up 110.60 points to 25,934.15.
Foreign Institutional Investors purchased equities worth Rs 595.78 crore on Thursday, according to exchange data.
Meanwhile, Economic Advisory Council to the Prime Minister (EAC-PM) member Sanjeev Sanyal on Thursday said he is not concerned about the rupee at all, arguing that even China and Japan witnessed exchange rate weaknesses during their high growth phases.
Speaking at 'Times Network's India Economic Conclave 2025', Sanyal said since the 90s, the rupee has mostly been allowed to find its own level, but the RBI uses its reserves to intervene in either direction to stop excessive volatility.
"I am not concerned about the rupee at all... Let me say that the rupee and its current weakness should not be necessarily conflated with some economic worry, because historically, if you go over time, you will see that economies that are in their high growth phase very often go through a phase of exchange rate weakness," he said.
