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Rift in Cong(I); BJP keeping options open
After inflicting a lethal blow that resulted in the fall of the United Front government yesterday, the Congress(I) today made a climbdown, once again offering support to a coalition arrangement on the condition that a new leader is ‘projected’ by the United Front. The once-bitten-twice-shy UF seemed to be in no mood to take the bait as it swore by the leadership of the vanquished Mr. H.D. Deve Gowda and preferred not to support either the Congress(I) or the BJP in any government formation at the Centre.
Sensex falls 44 points, market hopeful
Markets rode out the fall of the Deve Gowda Government with the Sensex losing a small 44 points today to end the session at 3,589.72 points. Marketmen have some reason to be hopeful with the Budget expected to be passed at a special session of the Parliament on April 21. The special trading sessions on both BSE and NSE were listless with prices moving in a narrow range. Most speculators squared up their positions for the new settlement, leaving little to chance.
Black Friday for economic reforms?
The sudden end (apparently, to some observers) to a coalition governance in the country on the midnight of Friday after the Deve Gowda government was voted out in Parliament is likely to put the economy in disarray, especially in the light of the unfinished business of passing the Finance Bill 1997 and the second phase of economic reforms involving the crucial financial sector. Though it is given out that a special three-day session to pass some vital clauses of the Finance Bill from April 21 is being considered by the Lok Sabha Speaker, Mr. P.A. Sangma, the major Opposition party, the BJP, is not very keen on getting the “Chidambaram Budget” passed.
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