PM leads mega roadshow in Sikkim, to attend celebrations marking 50 years of statehood on Tuesday
Gangtok (PTI): Prime Minister Narendra Modi led a mega roadshow in Gangtok on Monday evening after arriving in Sikkim to attend the closing ceremony of 50 years of statehood celebrations.
Modi, who wore a traditional Bhutia cap and a Lepcha coat, was received at the Libing helipad by Governor Om Prakash Mathur and Chief Minister Prem Singh Tamang.
From the helipad, the PM began the roadshow, which concluded at Lok Bhavan, where he will stay overnight.
On the open vehicle, Modi was flanked by CM Tamang on his left and state BJP president D R Thapa on his right.
Large crowds lined the roads for hours, waving national flags and waiting to catch a glimpse of the Prime Minister.
As his convoy moved slowly through the city, people broke into celebrations. Some enthusiastic supporters chanted "Modi, Modi, Modi", while a few women were seen showering flower petals in his direction.
Modi acknowledged the cheering crowds by waving continuously.
Tamang was also seen urging the gathered people to cheer for the PM during the roadshow.
The route of the roadshow was decorated, with arch gates erected at several points and large cut-outs of Modi placed along the roads.
On Tuesday, Modi will visit the Orchidarium in Gangtok. To commemorate the golden jubilee of Sikkim's statehood and showcase the state's ecological and floral heritage, the 'Swarnajayanti Maitri Manjari' Park has been developed as a world-class Orchid Experience Centre.
The PM will also participate in the closing ceremony of Sikkim's 50th statehood celebrations at Paljor Stadium, where he will unveil development projects worth over Rs 4,000 crore.
The projects cover several sectors, including infrastructure, connectivity, healthcare, education, power, urban development, environment, tourism and agriculture.
Modi is also scheduled to address the gathering on the occasion.
He was expected to attend the opening ceremony of the year-long celebrations last year, but could not reach the venue due to inclement weather. However, he addressed the event virtually from Siliguri in neighbouring West Bengal.
Tamang later thanked the people for giving the grand reception to the PM during the hour-long roadshow in the state capital.
"With immense fervour and heartfelt enthusiasm, the people of Sikkim accorded a grand and resounding welcome to Hon’ble Prime Minister Shri Narendra Modi ji on his arrival in Gangtok," he said in a social media post.
Tamang said people from all walks of life gathered in large numbers to greet him, reflecting the deep respect and warm affection the people of Sikkim hold for his leadership.
"It was indeed an honour to join him during the roadshow and witness the overwhelming love and support of the people firsthand," he said.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Rupee settles 1 paisa higher to close at 94.15 against US dollar
Mumbai (PTI): The rupee settled with gains of just one paisa to close at 94.15 against the US dollar on Monday, as rising global uncertainty, escalating tensions in West Asia and soaring crude oil prices weighed on investor sentiments.
Forex traders said the INR/USD pair pared its initial losses, but the overall bias remains negative as FII sell-off and elevated crude oil prices restricted the gains for the local unit.
At the interbank foreign exchange market, the rupee opened at 94.25 against the US dollar, and touched an intraday high of 94.11 and a low of 94.28 against the greenback during the day.
At the end of Monday's trading session, the rupee was quoted at 94.15, registering a gain of just 1 paisa over its previous close.
On Friday, the rupee extended its losing streak for the fifth day in a row, depreciating 15 paise to close at 94.16 against the US dollar.
"The rupee snapped a five-session losing streak, rebounding in tandem with a rally across regional currencies. However, the mood remains apprehensive as the market braces for a potential RBI intervention around 94.30 and higher crude oil prices," said Dilip Parmar – Senior Research Analyst, HDFC Securities.
On the charts, the USDINR pair has reclaimed its upward momentum, carving out a classic bullish structure of higher highs and lows on the daily time frame, he said, adding that for the coming sessions, 93.80 serves as a support, with 94.40 acting as the primary hurdle.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was down 0.21 per cent at 98.32.
Brent crude, the global oil benchmark, was trading higher by 2.36 per cent at USD 107.82 per barrel in futures trade.
On the domestic equity market front, Sensex jumped 639.42 points to settle at 77,303.63, while the Nifty surged 194.75 points to 24,092.70.
Foreign Institutional Investors offloaded equities worth Rs 1,151.48 crore on Monday, according to exchange data.
Meanwhile, India's forex reserves jumped by USD 2.362 billion to USD 703.308 billion during the week ended April 17, the Reserve Bank of India (RBI) said on Friday.
In the previous reporting week, the forex kitty had increased by USD 3.825 billion to USD 700.946 billion.
