Gehlot-loyalist MLAs threaten to resign ahead of CLP meet to pick his successor
Jaipur, Sep 25: High drama unfolded in Rajasthan Sunday evening as a group of Congress MLAs loyal to Chief Minister Ashok Gehlot headed to the assembly speaker's residence to submit their resignation ahead of a legislature party meeting which was likely to pick his successor.
The development suggested a worsening power struggle between the chief minister and Sachin Pilot who was tipped to be Gehlot's replacement after he declared his candidature for the Congress president's post.
Congress observers Mallikarjun Kharge and Ajay Maken, along with Gehlot, reached the chief minister's residence where the Congress Legislature Party meeting was to be held. Pilot reached there separately. About 25 legislators were present there, sources said.
However, a large group of MLAs loyal to the chief minister who held a meeting at Minister Shanti Dhariwal's residence decided to go to Speaker C P Joshi's residence to submit their resignation.
"We are going to the speaker's residence in a bus and will submit our resignation," state minister Pratap Singh Khachariyawas told reporters.
Sources claimed there were around 80 MLAs, including Independents, in the group.
Some of its MLAs said Gehlot's successor should be someone who was instrumental in saving the government during the political crisis in 2020 and not someone who was involved in the bid to topple it, a veiled reference to Pilot.
Another leader, Govind Ram Meghwal, said Gehlot can shoulder both roles, that of the chief minister as well as the party's national president.
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Rupee falls 28 paise to 94.77 against US dollar in early trade
Mumbai (PTI): The rupee depreciated 28 paise to 94.77 against the US dollar in early trade on Thursday as market sentiment took a dramatic turn after reports emerged that the US and Iran are discussing a 14-point Memorandum of Understanding (MOU) aimed at reducing tensions and reopening negotiations.
Forex traders said Brent oil prices, which had fallen to USD 98 on the US-Iran peace deal, edged slightly higher to USD 101 per barrel after investors weighed the prospects for a Middle East peace deal.
Moreover, factors such as unabated foreign capital outflows amid rising geopolitical uncertainties further dented investor sentiment.
At the interbank foreign exchange market, the rupee opened at 94.77 against the US dollar, registering a fall of 28 paise over its previous close.
On Wednesday, the rupee appreciated 69 paise to close at 94.49 against the US dollar.
"Markets are currently focused on the critical 48-hour window during which the US expects Tehran’s formal response through Pakistani mediators," said CR Forex Advisors MD Amit Pabari.
US President Donald Trump on Wednesday threatened Iran with more bombing if it doesn't reopen the Strait of Hormuz, amid a report that the warring sides were nearing an agreement to end the war.
US media outlet Axios reported, quoting US officials and two other sources, that the US and Iran were getting close to a one-page memorandum of understanding to end the war and set a framework for more detailed nuclear negotiations.
The US expects Iranian responses on several key points over the next 48 hours, Axios reported, adding that nothing has been agreed yet. This was the closest the parties had been to an agreement since the war began.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 98.01, down 0.01 per cent.
Brent crude, the global oil benchmark, was trading higher by 0.65 per cent at USD 101.83 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex declined 160.24 points to 77,798.28 in early trade, while the Nifty was down 30.25 points to 24,300.70.
Foreign Institutional Investors offloaded equities worth Rs 5,834.90 crore on Wednesday, according to exchange data.
On the domestic macroeconomic front, the country's goods and services exports rose 4.6 per cent to an all-time high of USD 863.11 billion during 2025-26, up from USD 825.26 billion in 2024-25, despite global economic uncertainties, according to revised commerce ministry data.
Merchandise exports grew 0.93 per cent to USD 441.78 billion in the last fiscal year from USD 437.70 billion in 2024-25, the data showed.
