BBMP and local body elections post Lok Sabha elections: CM Siddaramaiah
Mysuru (PTI): Karnataka Chief Minister Siddaramaiah on Friday said the process to hold the local body elections including Bruhat Bengaluru Mahanagara Palike (BBMP) will start soon after the counting of votes for the Lok Sabha elections.
He said the delimitation of wards has happened and reservation of wards will be the next step.
“We are ready to hold district and taluk panchayat elections. After the counting of votes for the Lok Sabha election, we will conduct gram panchayat, taluk panchayat and district panchayat elections. We will also conduct the Bruhat Bengaluru Mahanagara Palike elections,” Siddaramaiah told reporters here in Mysuru.
“When he was told that the deadline was January, by which time the delimitation process should have been completed, Siddaramaiah said he will hold a discussion and conduct the election as per rules.
Regarding making his son Yathindra Siddaramaiah a Member of the Legislative Council, he said it is left to the high command, which had said that it will make him a member of the upper house of the Karnataka legislature.
Siddaramaiah had been representing Varuna constituency in Mysuru traditionally, but in the 2018 assembly election, he opted to field his son Yathindra from there, whereas Siddaramaiah himself fought from Chamundeshwari and Badami.
While he lost from Chamundeshwari constituency, Badami was his face saver. In the 2023 assembly election, Yathindra made way for his father.
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Rupee falls 32 paise to all-time low of 95.20 against US dollar
Mumbai, Apr 30 (PTI): The rupee depreciated 32 paise to an all-time low of 95.20 against the US dollar in early trade on Thursday, weighed down by elevated Brent crude oil prices, hovering around USD 122 per barrel, and strong American currency.
Forex traders said the USD/INR pair may see further downside, as rising crude oil prices are likely to sharply impact India's import costs, while concerns over potential wider conflict in West Asia are fuelling investor anxiety.
Meanwhile, the US dollar added to gains after the US FED Reserve kept rates unchanged. Safe-haven demand was also boosted by another diplomatic setback between Washington and Tehran.
At the interbank foreign exchange market, the rupee opened at 95.01 against the US dollar, then lost some ground and touched an all-time low of 95.20 against the US dollar in initial trade, registering a fall of 32 paise over its previous close.
On Wednesday, the rupee depreciated 20 paise to close at an all-time low of 94.88 against the US dollar.
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"The main effect on the rupee has been from the rising oil prices, which touched USD 120 per barrel and looked headed for further upside as the US continues with its blockade of Iranian ports, while Iran does not allow any ship/tanker to pass through the Strait of Hormuz," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.01 per cent higher at 98.96.
Brent crude, the global oil benchmark, was trading higher by 3.16 per cent at USD 121.76 per barrel in futures trade.
On the domestic equity market front, Sensex tumbled 821.79 points to 76,674.57 in early trade, while the Nifty dived 287.3 points to 23,890.35.
Foreign Institutional Investors offloaded equities worth Rs 2,468.42 crore on Wednesday, according to exchange data.
"FPIs continue with their sale of Indian Equities and debt (the yield touched 7 per cent on Wednesday) and are also dollar buyers consistently," Bhansali added.
