Bengaluru | Major political developments likely in the coming days: H. D. Kumaraswamy
Bengaluru: Union Minister and JD(S) State President H. D. Kumaraswamy has stated that Karnataka may witness major political developments in the coming days. “In politics, it is difficult to predict who will take what decision. The situation is extremely fluid,” he remarked.
Speaking at the JD(S) Silver Jubilee celebrations on Saturday, Kumaraswamy said that almost every day there are new political shifts within the ruling Congress. He added that the current turbulence suggests the possibility of a political upheaval in the next few months. He urged party workers and leaders to remain closely connected with the people.
He criticised the Congress government, saying the public is disappointed due to rising prices and increased taxes. According to him, this dissatisfaction presents a favourable opportunity for the JD(S). “If people give us a chance, I will show what kind of administration we can provide in five years. If I fail to deliver a government that earns public appreciation, I will never show my face again,” he said.
Kumaraswamy alleged that Karnataka’s financial condition has deteriorated, claiming that the state’s debt has crossed ₹7.5 lakh crore. He accused Chief Minister Siddaramaiah of borrowing ₹5 to ₹5.5 lakh crore, and said the public must be told why such a large amount was borrowed.
He defended former Prime Minister H. D. Deve Gowda, stating that he dedicated his life to the people and never sought power at anyone’s doorstep. He added that even when long-serving rulers approached Gowda for political cooperation, he refused, adhering to principle and integrity. Kumaraswamy expressed displeasure that such a leader continues to face baseless allegations.
The JD(S) leader said the party survived because of the support of the people and its workers. He asked why the party, despite serving the state without discrimination, had not received full public support. “People from other states remember Deve Gowda with respect. Why not our own people?” he questioned.
Accusing the state government of “looting in the name of guarantees,” Kumaraswamy criticised rising taxes and alleged irregularities under “A” and “B” khata systems. He said many lives have been lost in pothole-related accidents and declared that such failures cannot be forgiven.
He also said that the government, unable to show results in development, has turned towards divisive political strategies. “Where are the reports by Kantaraju, Jayaprakash Hegde, and Madusudan Naik? Please tell us, Chief Minister,” he asked.
Kumaraswamy further stated that Prime Minister Narendra Modi had entrusted him with responsibilities at the Centre. He highlighted the reopening of the steel plant in Visakhapatnam and ongoing revival efforts at the Visvesvaraya Iron and Steel Plant in Bhadravati, adding that he is committed to repaying the people’s trust.
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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.
