J-K: PDP-BJP coalition govt collapses; Mehbooba Mufti resigns as Chief Minister

Agencies
June 19, 2018

Srinagar, June 19: Mehbooba Mufti on Tuesday resigned as the Chief Minister of Jammu and Kashmir, after the Bharatiya Janata Party (BJP) pulled out of the alliance with the People's Democratic Party (PDP) in the state.

"She (Mehbooba Mufti) has submitted her resignation (as Chief Minister of Jammu and Kashmir) to the Governor (Narinder Nath Vohra)," PDP's Naeem Akhtar said following the announcement.

The BJP's decision apparently came after its President Amit Shah held a meeting with the party's Jammu and Kashmir cabinet ministers.

Citing examples of the growing acts of "terrorism, violence and radicalisation" in the state over the past few years, BJP General Secretary Ram Madhav, while addressing a press conference in the national capital, said the party was left with no other option, but to discontinue its alliance with the PDP.

"We have taken a decision, it is untenable for BJP to continue in alliance with the PDP in Jammu and Kashmir, and hence we are withdrawing," Madhav said.

The differences between the BJP and the PDP cropped up following the Centre's decision to resume anti-terror operations in the state, which were suspended during the holy month of Ramzan.

"Terrorism, violence and radicalisation have risen and fundamental rights of the citizens are under danger in the Valley. Shujaat Bukhari's killing is an example. Keeping in mind the larger interest of India's security and integrity, the fact is that Jammu and Kashmir is an integral part of India. In order to bring control over the situation prevailing in the state, we have decided that the reign of power in the state be handed over to the Governor," Madhav added.

Madhav further alleged that the PDP has not shown a whole-hearted effort to control ceasefire violation from across the border.

"Centre did everything for the Valley. We've tried to put a full-stop to the ceasefire violations by Pakistan. The PDP has not been successful in fulfilling its promises. Our leaders have been facing a lot of difficulties from the PDP in developmental works in Jammu and Ladakh," Madhav said.

With the PDP-BJP coalition falling apart, the state might come under the governor's rule. However, Madhav cleared that the Centre will continue its efforts to stop any kind of violence in the state.

"Even if Governor's rule is imposed in Jammu and Kashmir, our efforts to fight terrorism will continue," he said.

He also said that the BJP formed an alliance with the PDP just to "respect the mandate of the people".

"If we would not have formed government at that time, Governor's rule or Presidential rule would have been imposed in the Valley. We had an alliance with them just for the mandate that was given by people," he said.

The BJP's decision to pull out of the alliance came as a surprise for the PDP.

"We tried our best to run the government with the BJP. This had to happen. This is a surprise for us, because we did not have any indication about their decision," PDP Spokesperson Rafi Ahmad Mir told ANI.

The BJP and PDP have had a love-hate relationship from time to time in the last three years.

The two parties formed a coalition government in 2015 after the state elections threw up a hung assembly. However, both of them were ideologically divided on a variety of issues.

The BJP had 25 seats in the Jammu and Kashmir Assembly, while the PDP had 28.

In April this year, their alliance seemed to be under strain after the gang rape and murder of an eight-year-old girl from a Muslim community in Jammu's Kathua district.

This will be the fourth time in the last 10 years if a Governor's rule is imposed in Jammu and Kashmir.

It was imposed in July 2008, following the resignation of then Chief Minister Ghulam Nabi Azad in the wake of the PDP pulling out of the coalition government with the Congress.

The state was under governor's rule in December 2014, following the hung verdict in the assembly elections that year.

Governor's rule was again imposed in the state in January 2016 following the death of then chief minster Mufti Mohammed Sayeed, as his daughter Mehbooba Mufti seemed reluctant to continue the alliance with the BJP.

As for the Congress, party leader Ghulam Nabi Azad has made it clear that the party has no intentions to form an alliance with the PDP again.

"Whatever has happened is good. People of Jammu and Kashmir will get some relief. They (BJP) ruined Kashmir and have now pulled out. Maximum number of civilians and army men died during these three years. That question does not arise (on forming alliance with PDP)," Azad said.

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News Network
May 22,2020

New Delhi, May 22: Reserve Bank Governor Shaktikanta Das on Friday extended the moratorium on payment of loans by another three months till August to provide much-needed relief to borrowers whose income has been hit due to the coronavirus crisis.

In March, the central bank had allowed a three-month moratorium on payment of all term loans due between March 1, 2020, and May 31, 2020.

Accordingly, the repayment schedule and all subsequent due dates, as also the tenor for such loans, were shifted across the board by three months.

As a result of this moratorium, individuals’ EMI repayments of loans taken were not deducted from their bank accounts, providing much-needed liquidity.

The EMI payments will restart only once the moratorium time period expires on August 31.

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News Network
June 12,2020

An Indian national was killed and four others injured in alleged firing by Nepal police personnel along the India-Nepal border in Bihar's Sitamarhi district today.

Sources said the firing took place after a clash between the Indians and personnel of Nepal police at the Lalbandi-Janki Nagar border in Pipra Parsain panchayat under Sonebarsha police station of the district.

Jitendra Kumar, the additional director general of police (headquarters), confirmed the death and injuries. The place of firing falls under Nepal jurisdiction.

Locals said Vikesh Kumar Rai, 25, died on the spot and Umesh Ram and Uday Thakur received bullet injuries when they were working in an agricultural field. Another person, Lagan Rai, is said to have been detained by the Nepali police.

Injured persons were rushed to Sitamarhi Sadar Hospital for better treatment.

Vikesh Kumar Rai’s father, Nageshwar Rai, said that his agriculture land falls under Narayanpur in Nepal where his son was working.

On May 17, Nepal police had fired blank rounds to disperse dozens of Indians trying to cross the border. It was not clear if they were also farmers.

The district magistrate and the superintendent of police of Sitamarhi have rushed to the spot.

Nepal shares a 1,850-kilometre (1,150-mile) open border with India and people travel across it for work and to visit family. It had closed its international borders on March 22 amid the coronavirus pandemic.

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Agencies
March 9,2020

Mumbai, Mar 9: The mayhem in domestic stock markets deepened with the BSE Sensex falling over 2,400 points and the Nifty50 trading below 10,400 points.

The plunge in the domestic indices was in line with the global markets on persistent fears of economic impact of the coronavirus epidemic.

Stocks of Reliance Industries registered the biggest fall in over 10 years as it fell to Rs 1,094.95 per share. At 1.34 p.m., it was trading at Rs 1,100, lower by Rs 170.05 or 13.39 per cent from its previous close. The stock fell most since October 2008.

The benchmark index of BSE Sensex was trading at 35,232.67 points, lower by 2,343.95 points or 6.24% from the previous close of 37,576.62 points. 

It had opened at the intra-day high of 36,950.20 and has so far touched a low of 35,109.18.

The Nifty50 on the National Stock Exchange was trading at 10,314.25 points, lower by 675.20 points or 6.14% from the previous close. 

It was a sell-off across sectors, led by financial, metal, energy and IT stocks - which weighed on the markets.

Further, crude oil prices also slumped around 30% on Monday as Organization of Petroleum Exporting Countries (OEPC) failed to agree on an output cut deal, eventually causing Saudi Arabia to cut its prices as it is likely to increase its production. Saudi Arabia's stance has already raised concerns of an all-out price war.

Brent crude futures are currently trading around $34 per barrel.

On Saturday, Saudi Arabia announced massive discounts to its official selling prices for April, and the nation is reportedly preparing to increase its production above the 10 million barrel per day mark, according to reports.

As per analysts, the oil market witnessed the worst price fall on Monday since the 1991 Gulf War.

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