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By:

Abhijit Mulye

21 August 2024 at 11:29:11 am

BJP’s zilla parishad surge leaves Shinde Sena sidelined

Mumbai: The political friction within Maharashtra’s ruling alliance has moved from hushed corridors to a public power struggle following Deputy Chief Minister Eknath Shinde’s recent high-profile dash to the national capital. While Shinde spent his Delhi visit in closed-door deliberations with Prime Minister Narendra Modi and Union Home Minister Amit Shah—purportedly to protest being marginalised in regional power-sharing—the state BJP responded on Wednesday with a series of aggressive...

BJP’s zilla parishad surge leaves Shinde Sena sidelined

Mumbai: The political friction within Maharashtra’s ruling alliance has moved from hushed corridors to a public power struggle following Deputy Chief Minister Eknath Shinde’s recent high-profile dash to the national capital. While Shinde spent his Delhi visit in closed-door deliberations with Prime Minister Narendra Modi and Union Home Minister Amit Shah—purportedly to protest being marginalised in regional power-sharing—the state BJP responded on Wednesday with a series of aggressive manoeuvres. Instead of a reconciliation, Shinde got a reality check in which his Shiv Sena was systematically outmanoeuvred and isolated across key zilla parishads (ZPs) in Chhatrapati Sambhajinagar, Parbhani, and Sangli. This latest sequence of events underscores a rapidly changing dynamic in Maharashtra politics. Ever since Devendra Fadnavis assumed the Chief Minister’s office in December 2024, the BJP has adopted an increasingly assertive posture. Shinde and his camp are visibly struggling to counter this dominance. The political manoeuvring in Parbhani perfectly illustrates the BJP’s new strategy. The BJP emerged as the single largest party with 24 seats. The Nationalist Congress Party (NCP) secured 15 seats, followed by the Shiv Sena with five. The opposition consisted of Shiv Sena (UBT) (six seats), Congress (three seats), and one independent candidate. Guardian Minister Meghana Borikar had initially indicated a plan to seize power alongside Shinde’s Shiv Sena while keeping the NCP out. Silent Moves However, the Congress silently attempted to engineer a broad anti-BJP coalition, trying to unite the NCP, both Sena factions, and the independent member. Sensing the threat, the BJP went into a huddle with NCP leadership for a counter-strategy. Clear directives were sent to the district level. The BJP abruptly formed an alliance with the NCP. Consequently, the Shiv Sena, which had been aggressively eyeing the ZP chairperson’s post, was unceremoniously shown the door. Tight Race A similar drama unfolded in Sambhajinagar. The alliance broke down at the very last moment. Local leaders failed to reach a consensus about the chairperson post. Numbers were extremely tight. The BJP held 23 members, while the Shiv Sena commanded 22. When state-level power-sharing formulas were rejected locally, the BJP took drastic action. Leveraging assistance from the NCP, the BJP successfully engineered a split within the opposition alliance. It managed to win over the crucial votes of three UBT members and one NCP-Sharad Pawar member. On Wednesday, both the BJP and the Shiv Sena filed rival nominations for the top post. Ultimately, the BJP’s tactical cross-voting strategy prevailed. The party walked away with both the chairperson and deputy chairperson positions, leaving the Sena empty-handed. The situation in Sangli further damaged the fragile relationship between the two ruling partners. In Sangli, the NCP-SP successfully bagged the chairperson post. The Shiv Sena accused the BJP of sabotage. It was claimed that the BJP deliberately refused to back the Sena candidate and decided to field its own candidate at the eleventh hour. The last-minute entry split the votes of the ruling alliance and turned the regional equations decisively in favour of the NCP-SP.

Rupee gains 10 paise to settle at 85.26 against US dollar

  • PTI
  • May 14, 2025
  • 2 min read


Mumbai: The rupee pared most of its initial gains and ended the day higher by 10 paise at 85.26 (provisional) against the American currency on Wednesday, supported by gains in domestic equities and positive macroeconomic data.


Forex traders said the weakness of the American currency in the overseas market and rising appetite for riskier assets amid easing trade tariff tensions boosted investors' sentiments.


At the interbank foreign exchange, the domestic unit opened on a positive note and moved between the intra-day high of 85.05 and the low of 85.52 against the greenback. The unit ended the session at 85.26 (provisional), registering a gain of 10 paise over its previous closing level.


On Tuesday, the rupee reversed early gains to settle flat at 85.36 against the US dollar.


"Bolstered by a weaker US dollar index, cheaper imported commodities, and a prevailing risk-on mood in the markets, the Indian rupee saw gains against the US dollar on Wednesday," said Dilip Parmar, Senior Research Analyst, HDFC Securities.


Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.64 per cent lower at 100.35.


Brent crude, the global oil benchmark, fell 1.10 per cent to USD 65.90 per barrel in futures trade.


The retreat in crude oil prices and the overall softening of the greenback acted as tailwinds, specifically supporting the local currency during Wednesday's trading session, Parmar said, adding that in the near future, the USDINR spot rate is anticipated to find a floor near the 84.90 mark, while encountering upward pressure around the 85.70 level.


In the domestic equity market, the 30-share BSE Sensex advanced 182.34 points, or 0.22 per cent, to close at 81,330.56, while the Nifty rose 88.55 points, or 0.36 per cent, to 24,666.90.


Foreign institutional investors (FIIs) offloaded equities worth Rs 476.86 crore on a net basis on Tuesday, according to exchange data.


On the domestic macroeconomic front, India's retail inflation eased to a nearly six-year low of 3.16 per cent in April, creating enough room for the Reserve Bank to go for another round of rate cut in the June monetary policy review.


Wholesale price inflation dropped to a 13-month low of 0.85 per cent in April with softening in prices of food articles, fuel and manufactured products.

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