Kerala Assembly pays homage to former PM Manmohan Singh
Thiruvananthapuram (PTI): The Kerala Assembly on Monday paid homage to former Prime Minister Manmohan Singh, who died last month, and described him as a unique personality, able administrator, brilliant economist, and a determined patriot.
Cutting across politics, Chief Minister Pinarayi Vijayan, Leader of Opposition V D Satheesan, Assembly Speaker A N Shamseer and other leaders hailed the contribution of Singh in various fields.
The 13th session of the 15th Kerala Assembly, which began on Friday, was adjourned on Monday after paying tribute to the former Prime Minister.
During his speech, Chief Minister Vijayan recalled that apart from being the Prime Minister of India, Manmohan Singh was known in many capacities as an internationally renowned economist, exemplary teacher, and eminent bureaucrat, and as the country's finance minister.
There may not be another person who has held all the pivotal positions that shape India's economic policy, he said.
The CM especially mentioned about the Mahatma Gandhi National Rural Employment Guarantee Scheme and the Right to Information Act launched by Singh's government.
Though the CPI(M) had some differences of opinion about certain policies of the Manmohan Singh-led UPA government, his stand for protecting constitutional values and the democratic system of the country was commendable, Vijayan further said.
Through the demise of Singh, the country had lost a gentle and determined patriot and a brilliant economist who firmly believed in secular values, he said.
Leader of Opposition V D Satheesan recalled various initiatives implemented by Singh in finding out solutions to the problems faced by common people.
He said Singh was a leader who strongly upheld the secular and democratic values and the one who had unwavering commitment and dedication towards the country.
During the address in the House, the Congress leader also said that Singh had courageously implemented the economic reforms in the country despite criticisms, and it had helped the nation progress financially.
Assembly Speaker A N Shamseer also said that the country had lost a brilliant economist and a determined statesman.
Singh's contributions to nation building as a finance minister and a Prime Minister went beyond his financial expertise, Shamseer added.
Singh, the architect of India's economic reforms, died at the All India Institute of Medical Sciences, Delhi, on December 26 at the age of 92.
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Rupee falls 9 paise to all-time low of 90.58 against US dollar in early trade
Mumbai (PTI): Rupee depreciated 9 paise to an all-time low of 90.58 against US dollar in early trade on Monday, weighed down by uncertainty over an India-US trade deal and persistent foreign fund outflows.
Forex traders said rupee is trading with a negative bias as investors are in wait and watch mode and awaiting cues from the India-US trade deal front.
At the interbank foreign exchange market, the rupee opened at 90.53 against the US dollar, then fell further to an all-time intraday low of 90.58 against the greenback, registering a fall of 9 paise over its previous close.
On Friday, the rupee had slipped 17 paise to close at an all-time low of 90.49 against the American currency.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.05 per cent lower at 98.35.
Brent crude, the global oil benchmark, was trading higher by 0.52 per cent at USD 61.44 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex was trading 298.86 points lower at 84,968.80, while the Nifty was down 121.40 points at 25,925.55.
Foreign Institutional Investors sold equities worth Rs 1,114.22 crore on Friday, according to exchange data.
"FPIs continue to be in selling mode in equity and debt while RBI has been selling dollars to fund their long positions," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
