World Economic Situation and Prospects
UN: Growth in global economy exceeds expectations, but increased risks could threaten economic outlook
Global growth expected to exceed 3% for 2018 and 2019
17 May – Growth in the world economy is surpassing expectations and global GDP is now expected to expand by more than three per cent this year and in 2019, reflecting strong growth in developed countries and broadly favourable investment conditions, a new UN report finds.
But rising trade tensions, heightened uncertainty over monetary policy, increasing debt levels and greater geopolitical tensions can potentially thwart progress, according to the United Nations World Economic Situation and Prospects (WESP) as of mid-2018, launched today in New York.
According to the report, world economic growth is now forecast to reach 3.2 per cent both in 2018 and 2019, an upward revision by 0.2 and 0.1 percentage point, respectively. This revised outlook reflects further improvement in the growth forecast for developed economies due to accelerating wage growth, broadly favourable investment conditions, and the short-term impact of a fiscal stimulus package in the United States. World trade growth has also accelerated, reflecting a widespread increase in global demand. Many commodity-exporting countries will also benefit from the higher level of energy and metal prices. While the modest rise in global commodity prices will exert some upward pressure on inflation in many countries, the report notes that inflationary pressures remain contained across most developed and developing regions.
Speaking at the launch, UN Assistant Secretary-General for Economic Development and Chief Economist Elliott Harris said the upward revision in the global economic forecast reflected in the report is positive news for the prospects of making tangible progress towards achieving the Sustainable Development Goals, but cautioned that “there is a strong need not to become complacent in response to upward trending headline figures.”
“The report underscores that the risks have increased as well and highlights the need to urgently address a number of policy challenges, including threats to the multilateral trading system, high inequality and the renewed rise in carbon emissions,” he added.
GDP growth forecasts in 2018 have been upwardly revised in nearly 40 per cent of countries since the previous forecast presented in the World Economic Situation and Prospects Report 2018 was released last December. However, some countries and regions are still not sharing in the global cyclical upturn, in many cases due to structural impediments to development. Output is expected to decline in Central and in Southern Africa this year and forecasts have been revised marginally downward for 2018 for the economies in transition–reflecting rising geopolitical tensions–and for the least developed countries (LDCs), where weaker growth prospects are largely driven by a deteriorating situation in Yemen.
As reflected in the WESP 2018 report, the pickup in economic growth offers policymakers greater scope to address some of the deep-rooted barriers that hamper more rapid progress towards the SDGs. This includes measures and specific policies that can accelerate the process of economic diversification, tackle high and/or rising levels of inequality, support investment in basic infrastructure, and strengthen institutions and governance to build a more transparent and dynamic business environment. Action in these areas could also help build resilience against future economic shocks.
The multilateral trading system
The report warns that a shift away from unambiguous support for the multilateral trading system, marked by further trade barriers and retaliatory measures threatens the strength and sustainability of global growth, with potentially large repercussions, especially for developing economies.
Addressing high inequality
The report also found that income inequality remains very high in numerous countries, but there is evidence of noticeable improvements in some developing countries over the last decade. These gains reflect temporary cyclical factors, but also illustrate some structural changes. Latin America and the Caribbean region, for example, has made significant progress in reducing inequality in the past 15-20 years, driven by specificpolicy measures related to minimum wages, education and government transfer payments.
Decoupling economic growth and CO2 emissions
Accelerated economic growth propelled by fossil fuels, the report found, also bears an environmental cost. Global energy-related carbon dioxide (CO2) emissions increased by 1.4 per cent in 2017 due to a number of factors including faster global economic growth, the relatively low cost of fossil fuels and weaker energy efficiency measures. Reforming fossil fuel subsides and taxation could speed the pace towards an environmentally sustainable growth that can meet the objectives of the Paris Agreement on climate change.
About the report: The World Economic Situation and Prospects as of mid-2018 updates the World Economic Situation and Prospects 2018 (United Nations publication, Sales No. E.18.II.C.2), released in December 2017.
For more information: https://www.un.org/ development/desa/dpad/wesp- report
China & U.S. open CUBIC the Biotechnology Innovation Center
Chinese nonprofit plans to open an innovation centre in the Texas Medical centre.
China U.S. Biotechnology Innovation Center, also known as CUBIC, will serve as a bridge for Chinese companies looking to invest in Houston, and vice versa.
Jiangsu Industrial Technology Research Institute or JITRI, a non-profit group based in the eastern Chinese province of Jiangsu plans to invest $3 million to $4 million a year to fund research and help companies expand their footprint abroad. The proposed China U.S. Biotechnology Innovation centre, also known as CUBIC, will serve as a bridge for Chinese companies looking to invest in Houston, and vice versa.
To commemorate the partnership, JITRI president Qing Liu and city officials from Houston and Suzhou, China plan to sign a memorandum of understanding in support of JITRI’s endeavor. The agreement also aims to foster deeper relations between Houston and China, including future trade missions, joint projects and exchange programs.
“No matter if a Chinese or American company, we should really work together to face the challenges of the future,” JITRI president Qing Liu said. “We need to work together to have a green earth and better life for all human beings.”
JITRI has been working for about a year to establish an innovation centre that would connect Houston and Suzhou, located about 60 miles northwest of Shanghai. Suzhou and Jiangsu province, home to many high-tech companies, have been looking to partner with Houston, which has one of the world’s largest medical districts, Liu said.
JITRI, one of the top industrial technology research centres in China, has 39 research facilities that specialize in IT, biomedicine and nanotechnology, as well as more than 6,000 personnel and a $300 million research and development budget.
The independent nonprofit, which is funded in part by the Jiangsu government, has an innovation centre in Denmark called the Innovation House.
CUBIC in Houston will have a staff of about 10, including two employees from JITRI in China. Participating U.S. startups and companies will be able to work in the centre and collaborate with Chinese investors and manufacturers looking to do business in the U.S.
BJP’s LG stands exposed of misusing Delhi Police to harass elected representatives
THE SHAMEFUL LETTER FROM BJP’s DELHI LG TO THE POLICE COMMISSIONER
BJP’s LG WORKING AGAINST THE PEOPLE AND ASKING THE POLICE COMMISSIONER HOW ARE THE AAP MEMBERS OUT OF JAIL ?
Delhi Police has been continuously arresting the elected MLAs of the AAP on false allegations and made-up cases as ordered by the BJP. The police has tried its level best to prepare wrong chargesheets against the MLAs , in order to defame their image and humiliate them.
AAP chief spokesperson Saurabh Bharadwaj said in a press conference that the MLAs of AAP are ill treated and their arrest is made public in order to spoil their image. The BJP’s central government was very much interested in the formation of fast track court which according to them could help them in proceeding in the cases against MLAs much faster so that the CM, ministers and the MLAs of AAP could be sent behind the bars as soon as possible. But in courts of law, truth and justice have prevailed and false cases against elected representatives of Delhi are falling flat one by one.
The court has also warned and scolded the Delhi Police for putting wrong allegations and filing false cases inspired by politics against the innocent.
We were expecting that the LG would write to the Police Commissioner and enquire about how the innocents are being framed and put behind bars for no reason and a detailed investigation should be done on the Delhi Police, which has unfortunately become the personal cell of BJP where they can frame political opponents, make up their own stories and file cases and put anyone in prison.
But to our utter surprise, a shocking evidence has been revealed, which states that instead of enquiring about the careless deeds of Delhi Police, the BJP’s LG has written a letter to the Delhi Police Commissioner, asking about how and why the MLAs are getting acquitted and how cases against them are being quashed one by one, the LG has asked for report from the police that within one week how are the MLAs have been proved to be innocent.
The BJP’s LG is specially bothered about how did Amanatullah Khan got a dignified release from the jail and the case against him was quashed by the court. The Delhi Police was also scolded for reopening a five year old case again in 2015, after Amanatullah Khan was elected as an MLA.
This is very unfortunate, that the LG, who holds a constitutional post, is worried about how the Delhi CM Arvind Kejriwal, Deputy CM Manish Shishodia, Kailash Gehlot, Naresh Balyan and Manoj Kumar MLA from Kondli were acquitted in courts, whereas the LG wanted them to be behind bars.
This act of BJP’s LG is really shameful not because he is the LG but because it is not his age to perform so many sins and rather focus on good deeds and earn respect.
It is beyond any reasonable understanding as to why the LG, who is incharge of Delhi Police is misusing this force, instead of concentrating on the safety and security of the residents of Delhi, given the fact that women safety is one of the major concerns of the residents of Delhi.
BSE Institute exchanges MoU with IIT Madras
BSE Institute exchanges MoU with IIT Madras to offer joint program in Business Analytics
New Delhi, May 16, 2018 – BSE Institute Ltd, the leader in financial education, has signed a Memorandum of Understanding (MoU) with IIT Madras to offer joint program in Business Analytics.
The MoU was exchanged at IIT Madras campus between Mr. Ambarish Datta, MD and CEO, BSE Institute Ltd and Dr. Ashok Kumar Mishra, Professor. Dept. of Chemistry and Dean- Academic Research in the presence of Dr. V. Kamakoti, Professor Department of Computer Science and Engineering, IIT Madras and Mr. Pradeep Chowdhary, Senior Manager, BSE Institute Ltd.
Both BSE Institute and IIT Madras endeavor to provide world-class education to the students through collaborative programs. In addition, the collaboration will also lead to opportunities of joint research and facilitate industry exposure for students of both the institutions. It will provide excellent opportunities to students from both the cities who aspire for an optimal learning environment, with a diverse peer group, and a global, lifelong network of trusted connections.
Business Analytics Program enables working professionals with in depth understanding of the key technologies used in analytics, viz. data mining, machine learning, visualization techniques and statistics. Through this program one can turn the sheer complex data into a competitive advantage with the efficient use of Business Analytics & thereby fostering / supporting the decision making. The program is designed on a schedule that minimizes disruption of work and personal pursuits, spread over one year (part-time) focusing on overview of the field of analytics so that you can make informed business decisions.
“The Program is designed to enable learners in the use of statistical analysis, computing tools, and mathematical models to predict the outcomes of various business decisions, and identify the best implementation.
The use of business analytics has grown exponentially in all areas, including financial services, healthcare, government, retail, e-commerce, media, manufacturing, and the service industry. This has led to an increase in the demand for employees with an analytical approach to management who can utilize data, understand statistical and quantitative models, and are able to make better data-driven business decisions. We also expect successful learners to gravitate toward start-up organizations.” said Mr. Ambarish Datta, MD and CEO, BSE Institute Ltd
“As we enter the digital era, data holds the key. It is the next generation oil to fuel the economic growth of any Organization. This certificate program will introduce and train one on the fundamental building blocks required for high-end data analytics across all disciplines of applications including but not limited to legal, commerce, economics, engineering, science and humanities” said Dr. V. Kamakoti, Professor Department of Computer Science and Engineering, IIT Madras
Voltas’ Consolidated Financial Results
Voltas’ net profit fell 3.13% to Rs 194.19 crore on 1.15% increase in net sales to Rs 2021.30 crore in Q4 March 2018 over Q4 March 2017. Voltas focus on process improvements and better commercial terms is reaping benefits, as EMP margins have improved to ~7%.
Voltas’ Consolidated Financial Results: Voltas results dwindle as per the Q4FY18 consolidated net profit (excluding exceptional items) declines 2.36% yoy to Rs195.58cr :
Voltas’ Consolidated Financial Results: Voltas results dwindle as per the Q4FY18 consolidated net profit (excluding exceptional items) declines 2.36% yoy to Rs195.58cr :
FY 2017-18
|
FY 2016-17
|
%
| |
Rs. Crores
|
Rs. Crores
|
change
| |
Profit after tax
|
578
|
520
|
11%
|
Profit before tax
|
805
|
720
|
12%
|
Total Income
|
6602
|
6307
|
5%
|
May 17, 2018 New Delhi: The Board of Directors of Voltas Limited, the global air conditioning and engineering services provider of the Tata Group, today announced the Consolidated Financial Results (including the Consolidated Segment Report) for the quarter and year ended March 31, 2018. The Company has adopted Indian Accounting Standards (“Ind-AS”) from 1st April, 2016 and the accounts have been accordingly prepared.
Consolidated Results for the year ended March 31, 2018:
The Consolidated Total Income for the year ended March 31, 2018 was higher by 5%, at Rs. 6602 crores as compared to Rs. 6307 crores last year, owing to improved efficiencies across businesses. Profit before tax was higher by 12%, at Rs. 805 crores as compared to Rs. 720 crores not withstanding lower other income of Rs. 174 crores in the current year as compared to Rs. 212 crores last year. Profit after tax was also higher by 11%, at Rs. 578 crores as compared to Rs. 520 crores last year. Earnings per Share (Face Value per share of Re. 1) as at March 31, 2018 improved to Rs. 17.30 as compared to Rs. 15.64 last year. Total Comprehensive Income, including notional mark to market revaluation gains / losses on equity investments, foreign currency translations, etc. for the year was higher at Rs. 741 crores as compared to Rs. 601 crores last year.
Consolidated Results for the quarter ended March 31, 2018:
The Consolidated Total Income for the quarter ended March 31, 2018 was at Rs. 2092 crores as compared to Rs. 2098 crores in the corresponding quarter last year. However, Profit before tax was higher by 14%, at Rs. 284 crores as compared to Rs. 250 crores in the corresponding quarter last year. Profit after tax was at Rs. 194 crores as compared to Rs. 200 crores in the corresponding quarter last year. Total Comprehensive Income for the quarter was Rs. 257 crores as compared to Rs. 246 crores in the corresponding quarter last year.
Consolidated Segment Results for the year ended March 31, 2018:
Electro-Mechanical Projects and Services: Segment Revenue for the year was higher at Rs. 2845 crores as compared to Rs. 2655 crores in the corresponding period last. Segment Results was significantly higher at Rs. 185 crores as compared to Rs. 85 crores last year, reflecting better quality of orders and efficient execution both in domestic and international business. Carry forward order book of the Segment stood at Rs. 5062 crores as compared to Rs. 4321 crores last year.
Engineering Products and Services: Segment Revenue and Results were Rs. 310 crores and Rs. 99 crores as compared to Rs. 332 crores and Rs. 96 crores, respectively last year. The slowdown impact due to demonetization and GST implementation in the Textile Machinery Industry is well known. In Mining and Construction Equipment, Mozambique operations continue to drive the performance.
Unitary Cooling Products for Comfort and Commercial use: Battling intense competition, Voltas continues to be the market leader in Room Air-Conditioners with a market share over 22% across the year. The Company has also ramped up its product mix to gain market share in the inverter AC segment. Segment Revenue was higher at Rs. 3226 crores as compared to Rs. 3047 crores last year. Revenue for current and previous year are not comparable as Revenue for current year has been adjusted for applicable taxes. Segment Results was also higher at Rs. 475 crores as compared to Rs. 440 crores last year.
Japan invest spree in Myanmar
Japanese companies second largest investor after China in Myanma
Japan is aggressively investing in Myanmar, even as their European and American counterparts shy away while hundreds of thousands of Rohingya Muslims crisis..
Japan’s businesses to devote a record $1.47 billion to the Southeast Asian nation for the fiscal year ended in March, according to the Japan desk at Myanmar’s Directorate of Investment and Company Administration. The figure, which includes money coming through foreign subsidiaries, made Japan one of the biggest investors in Myanmar for the year. Its previous record was $1.02 billion from fiscal 2014.
By immediate country of origin, China topped the list at over $1.39 billion. But that nation invests less through indirect foreign channels, a DICA source said.
Japanese investment went into property development. Fujita and Tokyo Tatemono are working with a local company on a 16,000-sq.-meter commercial facility near the Shwedagon Pagoda, a tourist attraction in Yangon. The government-backed Japan Overseas Infrastructure Investment Corp. for Transport & Urban Development holds a stake in the project as well.
Kajima was selected by the Japan Conference on Overseas Development of Eco-Cities, a body founded by Japan’s transport ministry, to participate in another project with Myanmar’s government. The two projects are each worth over $300 million.
Companies are eager to make further inroads in Myanmar, which has a population of about 50 million. Many are building new import hubs and working to boost local production, especially in the Thilawa Special Economic Zone near Yangon jointly developed by Japan and Myanmar.
GS Yuasa looks to spend about $100 million through a Thai subsidiary on a new import hub in Thilawa for home and car batteries. JFE Steel is building a plant for hot-dip galvanizing steel, where the JFE Holdings unit plans to produce high-quality steel sheets. And Fumakilla is constructing a factory that will allow local production of its pesticide sprays.
Total investment in Thilawa reached $400 million last fiscal year, with $239 million coming from Japanese companies. A substation built with Japanese official development assistance went online in the zone in February, greatly reducing the risk of a power outage. Roads and other infrastructure are under development as well.
Myanmar received $6.11 billion in foreign investment during fiscal 2017, down by 11% to drop for the second year in a row. But Kazufumi Tanaka, who heads the Yangon office of the Japan External Trade Organization, said investment is not necessarily declining.
“If we look closely, billion-dollar deals like bids on natural gas blocks or [Vietnamese company] Viettel’s investment in the Myanmar mobile market temporarily pushed up the total for fiscal 2015 and fiscal 2016,” he said.
Chinese and South Korean companies are investing in cut-make-pack operations in Myanmar’s garment industry, while Unilever was cleared in April 2017 to invest in local production of detergent and shampoo.
CAIT to Challenge Walmart
CAIT WILL CHALLANGE WALMART FLIPKART DEAL
The Confederation of All India Traders (CAIT) has decided to challange Walmart Flipkart deal since the deal is circumventing laws and will offend FDI policy once it is implemented and will create an uneven level playing field beside accomplishing hidden agenda of Walmart to reach out to offline trade through e Commerce way.
CAIT National President Mr B C Bhartia & Secretary General Mr Praveen Khandelwal said that it’s an open fact that Walmart is not an online Company and e Commerce is not its core competence area. Therefore on the basis of money power a bigger game is designed to enter its goods to offline market through the way of online trade. The Government should closely monitor each passage of the deal since its not a merger of two companies but will have greater ramifications on retail trade and economy.
The Trade leaders have informed that their team of lawyers is studying the deal and very shortly CAIT while challenging the deal will move to appropriate Authority and legal recourse. There has to be a policy for such deals otherwise in lust of bigger profit several such deals will happen in future and will be a bad precedent. Virtually slowly and gradually the Indian retail Trade will be control and dominate by the MNCs and an era of predatory pricing, deep discounting and loss funding will prevail to wipe out the competition which will create an unhealthy market. Not only this certain important issues concerning FDI policy, data security, competition, unfair practices etc. have been involved.
Mr.Khandelwal said that key issues of the matter is whoever controls the platform control data and digital intelligence. Therefore, being the controller of the Company, the Walmart may use the data and other information as per its will & wish and the possibility of compromising the data can not be ruled out. Second important aspect is that the Owner can squeeze and dictate anything and as such being the virtual owner, the Walmart will always be in a position to dictate its terms and conditions.Thirdly, it is much more difficult for the Govt to control & regulate foreign owned platforms particularly in e commerce sector which has no boundaries.
Another factor which needs to be taken into account is the situation where a major player controls production to inventory management, marketplace to logistics, payments and delivery and control all this through global controls on data and digital intelligence.It is more vulnerable when there is no policy for e commerce and neither a Regulatory Authority to control & regulate the market.
Mr. Khandelwal has demanded that Government should immediately frame a national policy for e commerce and constitute a Regulatory Authority to regulate and e commerce business in India and till such time, the deal should be put in abeyance by the Government and a close scrutiny should be held in the entire deal.
The first Pandit Deen Dayal Memorial Int Oration
Invitation to The First Pandit Deen Dayal Upadhyay Memorial International Oration
RMP Delhi to you & 3 other(s)
Thu, 17 May 2018 17:57:17
1 attachment
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Dear Sir/ Madam
Request you to kindly find an invitation from Indian Council for Cultural Relations (ICCR) for The First Pandit Deen Dayal Upadhyay Memorial International Oration.
Speaker: Smt. Sushma Swaraj, Minister of External Affairs, Government of India
Date: Monday, 21st May 2018
Time: 06:00 PM
Venue: Pravasi Bhartiya Kendra Auditorium, Rizal Marg, Chanakyapuri, New Delhi
RSVP: 011-23379386, 23378616
Media Invites
UNICEF invite to Shiksha Mela
You are cordially invited to the Shiksha Mela on May 24 2018 at The Habitat Centre.
Kindly refer to invite for the agenda.
Kind regards,
Sonia Sarkar
AN INVITATION
SOCIALIST CONVENTION
10:00 AM – 5:00 PM | MAY 17th, 2018
MAVLANKAR HALL, RAFI ROAD, NEW DELHI
Media Invitees :
NBCC (India) Ltd
&
Ministry of Housing and Urban Affairs
&
Ministry of Housing and Urban Affairs
Cordially Invites you to
Foundation Stone laying ceremony of
World Trade Centre at Nauroji Nagar
And
Redevelopment of GPRA colony at Netaji Nagar
And
Redevelopment of GPRA colony at Netaji Nagar
By
Shri M. Venkaiah Naidu, Hon’ble Vice President of India
At
Nauroji Nagar, Ring Road, New Delhi,
Time: 12 pm,
Date: Thursday 17th,May,2018
Time: 12 pm,
Date: Thursday 17th,May,2018
Taiwan Expo 2018 in New Delhi begins
Chairman TAITRA in his inaugural address said, India is prime to become the economic super power of the 21st Century. The world’s 6th largest economy, India is home to vast numbers of institutions, R&D centers and tech-oriented manpower. It is advancing toward a US$5 trillion economy by 2025 and will be the world’s 3rd largest consumer market by 2025. Taiwan and India have also developed close relations in recent years, particularly with respect to trade. As of December 2017, the accumulative investment amount from Taiwan into India reached US$355 million. Similarly, our bilateral trade volume reached US$6.3. billion in 2017, making Taiwan India’s 18th largest trade partner.
At the new office opening ceremony last month, I told my Indian guests: “the banquet in India has already started”. Our response to the banquet is the Taiwan Expo. We serve our best dishes for Prime Minister Modi to deliver his Make in India, Digital India and Green India policies. Today, I have brought delicacies from Taiwan: Smart Cities, Electric Vehicles, Green Tech, Health Care, Culture & Tourism, and Lifestyle. A total of 130 Taiwanese exhibitors will showcase their latest technologies, products and solutions. I have no doubt we will prove Taiwan to be one of India’s best partners, best allies, and best friends.
This year’s ‘Taiwan Expo in India’ highlights focal points that both respond to current social and economic development and are mutually beneficial. Taiwan Smart City Pavilion is based on three themes: Smart Education, Smart Home and Smart Transportation, and will demonstrate the strength of Taiwanese smart city solutions.
Taiwan Green Products Pavilion is showcasing Taiwanese companies that may provide India with solutions to help manage environmental issues derived from population growth and economic development. Among other issues, these companies promote waste regeneration and lead to a green lifestyle.
Taiwan EV Alliance Pavilion will include renowned EV companies to display Taiwan’s EV technological advantages and supply chain components.
Taiwan Healthcare Pavilion will present the specialties and strengths of Taiwan’s smart medical industry, including medical services, aesthetic medicine, clinical tests, technologies and water purifiers and equipment that have integrated the Internet of Things (IoT) into their products. Taiwan’s latest testing equipment will also be provided on-site and will be available to experience, free of charge.
we will demonstrate Taiwan’s superior lifestyle products. With increasing demands for consumer goods, we will showcase Taiwan’s high-quality agriculture and food products, high-end sports and leisure equipment, high-quality textile fabrics, highly-customized food machinery, and superior Taiwanese design in consumer household products.
Founded in 1970, TAITRA is Taiwan’s foremost nonprofit trade promoting organization. Sponsored by the government and industry organizations, TAITRA assists enterprises to expand their global reach. Headquartered in Taipei, TAITRA has a team of 1,300 specialists and operates 5 local offices in Taoyuan, Hsinchu, Taichung, Tainan and Kaohsiung as well as 60 branches worldwide. Together with Taipei World Trade Center (TWTC) and Taiwan Trade Center (TTC), TAITRA has formed a global network dedicated to promoting world trade.
Taiwan Expo in India is the most important platform for bringing together Taiwanese and Indian corporates. The Expo begins in New Delhi on May 17 at Pragati Maidan Hall 11. Expo feature dedicated pavilions such as Taiwan Excellence, Green Products, Smart Cities, EV Alliance, Healthcare, Meet Taiwan, Tourism, Food Processing Machinery and Textiles. The products will showcase a range of ICT, green products, auto parts, fasteners, EV, medical devices, sports, agriculture, food and more. Besides, the expo also offers Taiwan culture performance, industrial seminars and business match making.
The Expo has free admission and we invite individuals, corporations and government units to visit and explore business opportunities and the beauty of Taiwan.
The Expo has free admission and we invite individuals, corporations and government units to visit and explore business opportunities and the beauty of Taiwan.
BJP defacto CM sworn in Bengaluru
Election results with fractured mandate,hung assembly, Governor invite BJP leader form the minority government, Quickly Congress called midnight petition in apex court propel the midnight hearing in sitting proceeds of SC. Early hours SC ruling against BJP invite for the formation of government in Bengaluru, SC in the morning wee hours at 5 am gave for the historical ruling of Governor to be executed in total. In lieu of this caveat BSY gets the chance, his third time to be defacto CM, so he has to prove majority, till 21 May to be dejure CM. BJP is the single largest group but short of majority hence ipso facto is the defacto CM.
BJP leader Lingayat strongman BS Yeddyurappa was on Thursday sworn-in as the new Chief Minister of Karnataka by Governor Vajubhai Vala.
BS Yeddyurappa takes oath as Karnataka CM amid protest by Congress, Janata Dal-Secular.
Senior lawyer and Ram Jethmalani today moved the SC in his personal capacity against the Karnataka governor’s decision to invite the BJP to form government in the state.
IE Tweets :After swearing in, @AmitShah slams @RahulGandhi for ‘opportunist’ offer to JD(S).
What is happening in Karnataka today is a rehearsal for what will happen after the Lok Sabha elections in Delhi.
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