Cab expansion possible on Wed if list is finalised in meeting with BJP leadership on Monday: Bommai
New Delhi: Karnataka Chief Minister Basavaraj Bommai on Monday said cabinet expansion can take place most likely on Wednesday if the list is finalised in a meeting with the BJP central leadership later during the day.
The chief minister, who reached the national capital late on Sunday night, said the cabinet exercise will be done in a balanced way keeping in mind the previous team.
His meeting with BJP president J P Nadda is scheduled in the evening.
"The list may get finalised either today or tomorrow. If it gets finalised tonight, the cabinet expansion can take place on Wednesday," Bommai told reporters before leaving for Parliament to meet Home Minister Amit Shah.
A comprehensive discussion will be held with the BJP chief in the evening about the cabinet formation, including whether it should be done in several stages or one go, he said.
Even balancing of regional and social representation will be kept in mind while deciding names, he added.
"Based on these factors, the numbers and names will be decided. Even how many deputy CMs should be made will also be decided in the meeting," Bommai said.
The chief minister further said that in the current political situation efforts will be made to take every one together.
"We are hopeful that cabinet making will be fruitful. Not only fruitful, it should serve the purpose of serving the people of the state," he said.
The CM also said some aspirants have met met him here and held discussions. "They also know not everyone can become ministers," he added.
"We will do in a balanced way keeping in mind the previous cabinet team," he said.
Bommai took oath as the chief minister on July 28 after the resignation of his predecessor B S Yediyurappa on July 26.
He is the lone Cabinet member in the government.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
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.
