Bank rate cut, no sops for farm, infrastructure
The Reserve Bank of India on Wednesday announced a set of measures including a reduction in bank rate and sops to exporters. However, the much-expected cut in cash reserve ratio (CRR) and measures to improve farm credit did not find a place in the credit policy for the first half of 1998-99.
Swamy bolts from the BJP stable
The BJP-led government at the Centre suffered its first major crack as Janata Party chief Subramanian Swamy broke ties with the saffron alliance. Announcing his decision, Swamy said that he now planned to work towards forming a "secular patriotic front" against the BJP and would wait for clearance from AIADMK chief J Jayalalitha to topple the Vajpayee government.
Bid to patch up TRAI, DoT row
On direction from the Prime Minister's Office (PMO) the Department of Telecommunications (DoT) and the Telecom Regulatory Authority of India (TRAI) have been asked to end their stand-off. The PMO had to intervene in the matter as the differences between DoT and the TRAI had escalated to such an extent as to set a bad precedent for the functioning of regulatory bodies.
No entry for defenceless George in J&K
After watching with increasing dismay on what it deemed "undue encroachment" on its turf, the Union Home Ministry yesterday finally cracked the whip on Defence Minister George Fernandes. It disallowed Fernandes to move unescorted into the interior areas of Jammu & Kashmir in pursuance of his stated desire to hold talks with extremist groups.
Ugly face-off in Bengal panchayat polls
The coming battle for rural Bengal between the CPI(M)-led Left Front on one side and the Trinamool Congress, BJP and the Congress on the other in the May 28 panchayat elections may turn out to be more violent than previous polls in the State. The run-up to the polls has so far seen violent clashes between the Left and the anti-Left forces in different parts of West Bengal.
JD too seeks Rabri Govt's exit
The Janata Dal has demanded dismissal of the Rabri Devi government in Bihar on the ground of breakdown of law and order to be followed by dissolution of the Assembly and fresh elections. At a press conference, JD parliamentary board chairman Ram Vilas Paswan said that Bihar was witnessing "jungle raj" with weaker sections becoming the target of atrocities.
