Business Line Twenty Years Ago Today

april 12 | Updated on March 09, 2018

Gowda Govt. loses trust vote

The 10-month-old United Front Government led by Mr. H.D. Deve Gowda was voted out of power in the Lok Sabha with the Prime Minister opting to face the confidence motion rather than resigning. This brings to a temporary end the political uncertainty caused by the sudden withdrawal of support to the UF Government by the Congress( I) President, Mr. Sitaram Kesri, on March 30. The fall of the UF Government has for the third time in less than a year brought the President, Dr. Shanker Dayal Sharma, onto the centrestage to find a solution to the political crisis. Winding up the debate prior to the voting, Mr. Gowda said, “I have some basic ethics. I have not come in search of this office.” During the hour-long speech, a relaxed Mr. Gowda launched a measured attack on all his opponents, both within the BJP and the Congress(I). But his best punches were reserved for Mr. Kesri, whom he refused to name and kept referring to as the ‘Congress President’. Saying that he was not interested in clinging on to the chair and, if destined, he would return to the same position, Mr. Gowda said his only anxiety was that the Budget, which was a pro-poor and pro-people one, should be passed. “If I have made mistakes, let the people punish me,” he said.

Sensex gains

Stock prices at the BSE reflected the developments in Delhi with the Sensex gaining 35 points over the previous close on rumours that the United Front and Congress were close to a solution. The market opened weak and touched the day’s low of 3,512.05 points in listless trading. The Sensex recovered by 121.68 points to close at 3,633.73 in the last half hour on news that a solution was in sight and that the Finance Bill would be passed without any hitches.

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Published on April 11, 2017
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