CPI(M) demonstrates outside ration shops in Kolkata after minister's arrest
Kolkata (PTI): The opposition CPI(M) held demonstrations in different parts of Kolkata, alleging large-scale corruption in the state's public distribution system, in connection with which minister Jyoti Priya Mallick was arrested by the Enforcement Directorate.
CPI(M) workers, armed with posters and placards, held demonstrations in front of ration shops in several parts of the city, such as Jorasanko and Kalighat, raising slogans against the TMC government in the state.
Mallick, 66, who held the food and supplies portfolio from 2011 to 2021, is at present the state's forest minister. He was arrested by the ED in the early hours of Friday in a money laundering case linked to the alleged multi-crore ration distribution scam.
"The TMC government is neck-deep in corruption. The ration scam is just one example of the many scams that have taken place during this government," said a CPI(M) leader.
The CPI(M) also demanded that the TMC government provide relief to the people who have been affected by the alleged scam.
It said the government should ensure that everyone has access to subsidised food grains.
"The people of West Bengal are suffering because of the corruption of the TMC government," the leader claimed.
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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.
