Politics

Narayan Rane dares Shiv Sena to quit BJP-led government

BMC

Mumbai: Maharashtra Swabhimani Paksh chief Narayan Rane today targeted the Shiv Sena and dared the Uddhav Thackeray-headed party to walk out of the BJP-led NDA government in the state as it announced its decision to contest elections on its own.

“You talk about fighting polls without an alliance (with the BJP). Then why do you not let go of power? You criticise your ally while being part of the government. Contesting elections separately does not befit the Sena,” Rane said, addressing his party workers in suburban Bandra.

Rane, a Rajya Sabha member, said there were various challenges plaguing the state but no political party seemed interested in tackling them, hence, he had to form his own political party.

The former Chief Minister of Maharashtra further questioned if the Sena was formed for the welfare of Marathi-speaking individuals, why did the percentage of such people decrease in Mumbai.

“Marathi people gave everything to the Sena but what did the party give back to them?” he questioned.

“If the entire responsibility of governance is on the BJP, are you just there to sit and eat? he asked.

Slamming the Congress, Rane said the party did not fulfil the promises it had made to the people.

In an apparent dig at former Maharashtra Chief Minister Prithviraj Chavan, who was earlier a Union minister, Rane said the reins of the state were given to a person who knew nothing about the state.

“I left the Congress because they kept making promises to me. After I quit the party, I had offers from parties including the Sena. However, I realised I had to form my own party if I wanted to give justice to my (party) workers,” Rane said as he exhorted his workers to start preparations for the 2019 Lok Sabha election.

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“Rupee Still Stronger In Comparison To Other Currencies”: Analyst Sunil Shah

ANI
Shah

“Foreign capital will help in stabilising the rupee,” says Sunil Shah

New Delhi: Market analyst Sunil Shah on Thursday said even though the rupee as a currency has weakened in comparison to the US dollar, but it is still “far stronger” than other currencies.

Shah added that the weakening of the rupee will be stable once the FDI (foreign direct investment) flow increases, which the analyst feels is likely from next month. “Foreign capital will help in stabilising the rupee,” Shah added.

Also Read: Subramanian Swamy Trolls FM Sitharaman Over ‘Rupee Not Weakening’ Comment

For the record, the Indian rupee has been weakening over the past few weeks to hit fresh new all-time lows as the US dollar strengthened against major global currencies.

On Wednesday, the rupee breached the 83 mark for the first time in its history.

So far this year, the rupee has depreciated around 11-12 per cent, market data showed.

The rising trade deficit, depleting forex reserves, and the latest monetary policy tightening by the US Federal Reserve also triggered the currency’s depreciation. Investors tend to move towards stable markets, such as the US, for better and stable returns amid any tight monetary policy.

Last week, Union Finance Minister Nirmala Sitharaman too defended the rupee’s depreciation saying the currency has performed much better than many other emerging market currencies as geo-political tensions continue to rise.

Speaking at a media briefing during her recent US visit, she explained that it was not the rupee weakening rather US dollar was strengthening.

(Except for the headline, this story has not been edited by HW News staff and is published from a syndicated feed.)

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