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Business Line Twenty Years Ago Today

may 16 | Updated on January 20, 2018 Published on May 15, 2016

Vajpayee to be sworn in PM today

Atal Behari Vajpayee will be sworn in as the country’s tenth Prime Minister tomorrow, with the Bharatiya Janata Party (BJP) accepting the invitation from the President, Dr. Shanker Dayal Sharma, and ending the week-long suspense over the formation of a government at the Centre. The President, while inviting the BJP leader, has given the party 15 days’ time till May 31 to prove its majority on the floor of the House. His decision came after the Chief Election Commissioner, Mr. T. N. Seshan, and the two Election Commissioners, Mr. G. V. G. Krishamurthy and Mr. M. S. Gill, handed over the final list of elected Members.

Sensex rebounds; record turnover on NSE

Share prices on the Bombay Stock Exchange recovered at the close on Wednesday, after a highly volatile trading- session, on reports that the BJP will be forming the government. Opening weak, the market fell fur- .ther, on news that the National Front- Left combine might form the government with Mr. Deve Gowda as the Prime Minister. The market bounced back later in the day on news of the BJP coming to power.

Levy sugar prices hiked

After months of dithering, the Food Ministry has finally notified levy sugar prices for the ongoing 1995-96 season. The all-India average ex-factory price for levy sugar for the 1995-96 season has been hiked by Rs. 91.3 to Rs. 876.75 per quintal against Rs. 785.45 per quintal last season. The additional burden on the exchequer works out to Rs. 405 crores, considering that 44.4 lakh tonnes of sugar .is channelled into the PDS annually. The additional burden on the exchequer works out to Rs. 405 crores.

Published on May 15, 2016
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