Nitish Kumar will remain Bihar CM, says Chirag Paswan
Patna (PTI): Riding on the clear trends of Bihar Assembly polls which pointed towards a landslide victory of the NDA alliance over the Mahagathbandhan, Lok Janshakti Party (Ram Vilas) chief Chirag Paswan said on Friday that he firmly believed that Nitish Kumar would continue to remain the state's chief minister.
Paswan attributed the "arrogance" of the Tejaswai Yadav-Rahul Gandhi-led opposition alliance for its thumping defeat and stated that the people's "faith in the unity of NDA partners" was the reason behind their convincing win.
"I firmly believe that Nitish Kumar will remain the Bihar chief minister. Arrogance is the cause for the opposition's humiliating loss and it is the sole factor that led to its downfall," Paswan told reporters here.
"Our overwhelming victory is on account of the strength of the double-engine government which is led by Prime Minister Narendra Modi at the Centre and our chief minister Nitish Kumar in the state. The people of Bihar have reposed complete faith in the unity of the NDA partners which has led to this win," he added.
Till reports last received, Paswan's LJP (RV) had won two and was leading in 17 of the 29 seats it contested, consolidating the party’s position within the NDA. Seventeen of these seats were previously held by the Mahagathbandhan in the 2020 elections, adding fresh gains to the ruling coalition and helping it cross the 200-seat mark.
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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.
