I won’t beg minister post: Horatti
Belagavi, June 11: MLC and JDS leader Basavaraj Horatti said that being the senior member in the Legislative Council, he missed the minister post in the JDS-Congress coalition government, the reason for which is not known.
Speaking to reporters here on Monday, Horatti said that he expected an important portfolio in the coalition government. But in the last moment, his name was dropped for unknown reason. “I have seen in the media about giving Legislative Council Chairman post to me. Teachers in the state have lot of problems. I wanted to become the Education Minister to solve such problems. Now, I don’t require an idle post like Legislative Council Chairman”, Horatti said.
It is known factor that north Karnataka was meted with injustice for many years. But he would not beg ministerial post in the government. In his 38 years political career, he does not have single black mark on him. It is left to the party leadership to give minister post or not, he said.
Those who fought in favour of getting separate religion status for Lingayat community were kept out of the cabinet. MB Patil, Shamanur Shivashankarappa, Eshwar Khandre and himself who fought in favour of the issue were deliberately denied the ministerial berths. Some swamijis have spread false propaganda against them in this issue, he said.
“It is fact that we fought against the injustice to a particular community. We have done the same thing what others do. We have not done murder or robbery. We are helpless if they treated it as a crime”, Horatti said.
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Rupee strengthens past 90/USD level in early trade
Mumbai (PTI): The rupee appreciated 24 paise to 89.96 against the US dollar in early trade on Friday, supported by corporate dollar inflows and easing crude oil prices.
Forex traders said the gain in the USD/INR pair follows the rupee’s string of record lows in recent weeks on likely intervention from the Reserve Bank of India.
Moreover, crude oil prices hovering around USD 59 per barrel level supported market sentiment.
ALSO READ:Rupee trades in narrow range against US dollar in early trade
At the interbank foreign exchange market, the rupee opened at 90.19 against the US dollar, then gained some ground and touched 89.96 against the US dollar, registering a gain of 24 paise over its previous close.
In initial trade it also touched 90.22 against the American currency. On Thursday, the rupee appreciated 18 paise against the US dollar to close at 90.20 against the greenback.
The rupee sank to a fresh record low, breaching the 91-a-dollar mark for the first time on Tuesday.
"Since the speculators are out of the market the buying of US dollar syndrome has come down a bit though intra-day we could see spikes," said Anil Kumar Bhansali Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
The US CPI came lower than expected but was also due to non-collection of sufficient data and therefore, the next month’s CPI becomes more important, Bhansali said, adding that "Rupee remains in a range of 90-90.50".
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.04 per cent higher at 98.46.
Brent crude, the global oil benchmark, was trading lower by 0.27 per cent at USD 59.66 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex climbed 375.98 points to 84,857.79, while the Nifty was up 110.60 points to 25,934.15.
Foreign Institutional Investors purchased equities worth Rs 595.78 crore on Thursday, according to exchange data.
Meanwhile, Economic Advisory Council to the Prime Minister (EAC-PM) member Sanjeev Sanyal on Thursday said he is not concerned about the rupee at all, arguing that even China and Japan witnessed exchange rate weaknesses during their high growth phases.
Speaking at 'Times Network's India Economic Conclave 2025', Sanyal said since the 90s, the rupee has mostly been allowed to find its own level, but the RBI uses its reserves to intervene in either direction to stop excessive volatility.
"I am not concerned about the rupee at all... Let me say that the rupee and its current weakness should not be necessarily conflated with some economic worry, because historically, if you go over time, you will see that economies that are in their high growth phase very often go through a phase of exchange rate weakness," he said.
