Siddaramaiah declares retirement from election politics
Bagalkote, October 17: “In my political career, I have contested 13 elections and won in five. I have completed full five years as the chief minister. In future, I will not contest in any elections”, said former chief minister Siddaramaiah.
Speaking at a programme organized to felicitate newly elected town municipal council members at Guledgudda in Badami taluk on Wednesday, Siddaramaiah said that “I was elected as the MLA from Badami constituency. So, I am from North Karnataka. Already, I have spent six months and remaining four and half years would be spent here only. It is my duty to develop the constituency. I will not contest any elections in future. Now, I am 71 year old. I would not do politics in development issue. There is no need to contest elections to do development works”, he said giving clear message that he would continue in active politics.
On Tipu Jayanti, Siddaramaiah said that whoever may be the opponent, it was the duty of one to fight. Earlier, winning in wars was the Rajadharma. But in this democratic system, ensuring justice to everyone was the Rajadharma. Many people have not studied the history properly. So, they have been creating unnecessary confusions, he criticized BJP leaders indirectly.
Speaking to reporters before, Siddaramaiah retaliated in his own version to MP Shobha Karandlaje’s statement that he was a toothless snake. “MP Shobha Karandlaje does not have common sense. I am not a snake. I am a human being. I don’t know whether Shobha belongs to that category or not. Whether the snakes have tooth or not, we have to give milk. What is the relationship between milk and snake? Should we need tooth to drink milk? While speaking, Shobha should understand her position and behave. She should stop speaking lightly in future”, he said.
“BJP state president BS Yeddyurappa speaking lie is not a new thing. He does not know how to speak truth. He speaks lie. Unfortunately media people believe him. He does not have any bomb. Even if he has, it is fake bomb”, Siddaramaiah ridiculed.
On joint campaigning with HD Deve Gowda for by-elections to three Lok Sabha and two Assembly constituencies, Siddaramaiah said that all details would be given in a joint press conference on October 20.
When asked about the entry of women into Sabarimala temple, Siddaramaiah said that people should respect the Supreme Court verdict.
Former ministers SR Patil, RB Thimmapur and HY Meti, former MLA BB Chimmanakatti and others were present.
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Rupee falls 9 paise to record low of 90.87 against US dollar in early trade
Mumbai (PTI): The rupee plunged 9 paise to a record low of 90.87 against the US dollar in early trade on Tuesday, weighed down by sustained FII outflows and no breakthrough in the India-US trade deal.
However, a weaker greenback and a decline in global crude oil prices capped further losses in the domestic unit, according to forex traders.
At the interbank foreign exchange, the rupee opened at its all-time low of 90.87 against the US dollar, down 9 paise from its previous close, and traded in a narrow range of 90.77- 90.87 in early trade.
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The rupee on Monday settled at a new all-time low of 90.78 against the US dollar, registering a loss of 29 paise over its previous close, weighed down by uncertainty over an India-US trade deal and persistent foreign fund outflows.
"The US-India trade deal still seems to be off by a distance with the Commerce Secretary saying the first phase will be signed before the end of the year and news that we are closest to the deal being signed. The uncertainty has clouded the recovery on the USD/INR pair as the rupee opened lower with dollar buying happening every day," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.
Even a reduction in trade deficit on Monday could not bring about a recovery in the rupee with Foreign Institutional Investors (FII) outflows continuing, he added
According to the latest government data released on Monday, India's trade deficit narrowed to a five-month low of USD 24.53 billion in November, as exports rebounded by 19.37 per cent to a six-month high of USD 38.13 billion after contracting in October, driven by higher shipments of engineering and electronics goods.
At the same time, the country's imports dipped by 1.88 per cent to USD 62.66 billion due to a fall in the inbound shipments of gold, crude oil, coal, and coke.
FIIs sold equities worth Rs 1,468.32 crore on Monday, according to exchange data.
Also, wholesale price inflation stayed in the negative for the second consecutive month in November at (-) 0.32 per cent, even though there was an uptick in prices of food articles like pulses and vegetables on a month-on-month basis, government data showed on Monday.
Wholesale Price Index (WPI)-based inflation was at (-) 1.21 per cent in October and 2.16 per cent in November last year.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.03 per cent lower at 98.27.
Brent crude, the global oil benchmark, was trading 0.61 per cent lower at USD 60.19 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index, Sensex, declined 363.92 points to 84,849.44 in early trade while the Nifty was down 106.65 points to 25,920.65.
