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Modi's party makes surprise comeback in India's richest state

07:47 PM | 23 Nov, 2019
Modi's party makes surprise comeback in India's richest state

MUMBAI – Indian Prime Minister Narendra Modi's party made an unexpected comeback to power Saturday in wealthy Maharashtra state, home to the country's financial capital, after prolonged backroom negotiations saw presidential rule lifted after days of uncertainty.

President Ram Nath Kovind imposed direct rule on India's richest state last week after fiercely fought elections last month led to weeks of haggling between parties over forming a government.

The state was previously ruled by Modi's Hindu nationalist Bharatiya Janata Party and its right-wing regional ally Shiv Sena.

But they failed to agree another power-sharing deal despite results showing the coalition had won a comfortable majority for a second consecutive term.

Shiv Sena quit the partnership, hoping to convince their ideological rivals, the centre-left Indian National Congress, and the Nationalist Congress Party (NCP) to form a government instead.

In the end though the BJP pulled off a major upset by joining hands with a top NCP leader to form a coalition, announcing the deal on Saturday.

"This bolsters the BJP and Modi's image in the state and the country," political commentator Nilanjan Mukhopadhyay told an international news agency.

"While there were some questions being raised about their loss of dominance following election results, this verdict will cement Modi and BJP's control in the state", he added.

The coalition still needs to prove its majority in the state legislature in a week's time in order to stay in power.

India has been battling an economic slowdown, and the imposition of presidential rule was a setback for Modi and for Mumbai, which is home to business tycoons, the stockmarket and the glitzy Bollywood film industry.

Under India's constitution, New Delhi can take direct control of a state in the absence of a local government and after obtaining consent from the president.

Associated Press of Pakistan Corporation (APPC) - Pakistan's Premier News Agency

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Currency Rates in Pakistan Today - Pakistani rupee to US Dollar, Euro, Pound, Dirham, and Riyal - 19 April 2024

Pakistani currency saw minor adjustment against global currencies on April 19, 2024. US dollar was being quoted at 277.4 for buying and 280.4 for selling.

Euro comes down to 293 for buying and 296 for selling while British Pound stands at 342.25 for buying, and 345.65 for selling.

UAE Dirham AED was at 75.2 and Saudi Riyal's new rates was at 73.30.

Today’s currency exchange rates in Pakistan - 19 April 2024

Currency Symbol Buying Selling
US Dollar ‎USD 277.4 280.4
Euro EUR 293 296
UK Pound Sterling GBP 342.25 345.65
U.A.E Dirham AED 75.2 75.9
Saudi Riyal SAR 73.3 74.05
Australian Dollar AUD 181 182.8
Bahrain Dinar BHD 740.09 748.09
Canadian Dollar CAD 201 203
China Yuan CNY 38.44 38.84
Danish Krone DKK 39.69 40.09
Hong Kong Dollar HKD 35.53 35.88
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.86 1.94
Kuwaiti Dinar KWD 902.64 911.64
Malaysian Ringgit MYR 58.08 58.68
New Zealand Dollar NZD 164.22 166.22
Norwegians Krone NOK 25.31 25.61
Omani Riyal OMR 722.87 730.87
Qatari Riyal ‎QAR 76.45 77.15
Singapore Dollar SGD 204.5 206.5
Swedish Korona SEK 25.31 25.61
Swiss Franc CHF 305.08 307.58
Thai Bhat THB 7.56 7.71

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