Shortly after the Uttar Pradesh Assembly election earlier this summer, an Opposition stalwart confessed his intense bewilderment at having misread the public mood. Active in politics since the early 1970s and a veteran legislator both in the State Assembly and Parliament, he imagined that the demonetisation of November 8, 2016 would have generated a backlash whose intensity would have devastated the Bharatiya Janata Party.
We are appalled at the sheer ugliness displayed by the purveyors of justice last week. Proceedings in the highest court in the land last Thursday and Friday did no one involve proud. How we wish the country was spared this sordid spectacle of the higher judiciary itself being bogged down in charges of corruption and wrong-doing. People expected better from Their Lordships and the lawyers who indulged in mud-slinging without any concern
Apart from these three ways, India’s current account deficit also came down sharply, since dollar outgo on oil imports reduced drastically. The lower CAD meant that the rupee gained strength. The stronger rupee and relatively higher interest rates attracted record foreign inflows. India’s stock of foreign exchange stands at $400 billion , the highest ever. Foreign funds into India’s corporate bond market are at record highs of more than 2.5 trillion rupees.
It is learnt that the US President, Donald Trump, is also not very happy with Theresa May. In this situation, it would be interesting to watch May’s next steps to retain her power and ensure better foothold for the Tories in Britain.
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