Mumbai Weekly Economy
People
Sports
Culture
Election results: BJP overpower longstanding Congress
A man wearing a Narendra Modi mask waves a BJP flag at a rally after the election results, Mumbai, 16 May, 2014. BJP and it’s allies have over 300 out of 543 parliamentary seats. Fariha Farooqui/Mumbai Weekly
Early results in India’s general elections on Friday has brought opposition leader Narendra Modi on course for a win with an absolute majority.
Bhartiya Janta Party leader and Gujarat chief minister Narendra Modi’s campaign policy to increase growth and development in the country received a
welcome response as his party and it’s allies lead the results in over 300 seats out of the 543 seats being contested. The ruling party In-
dian National Congress was ahead in just 38 seats. Rahul Gandhi, who led the Congress campaign along with his mother Sonia Gandhi, lost
their seat from Amethi – a family stronghold for the party for years. A reform of this scale will bring Narendra Modi, 63 to become the prime minister
Witnesses come forward on hit and run case
of India and form his government by selecting his cabinet of ministers.
and bonds in the past six months putting their bet on BJP’s win.
Foreign investors have reportedly invested $16 billion into Indian stocks
On Friday the markets went off to a rare start as rupee broke below 59 to
the U.S dollar a ten month high. In Maharashtra BJP won 23 seats out of 48 seats and congress won 1 seat andshivsena won in 17 seats.
BSE at record high
A man looks on at the BSE stock exchange, Mumbai, 16 May, 2014. Shweta Agrawal/Mumbai Weekly
Salman Khan leaves the courtroom in a white mercedes ,Mumbai, 6 May, 2014. Akshay Vaidya/Mumbai Weekly
Two witnesses came forward to identify Bollywood actor Salman Khan in the 2002 hit and run case. Muslim Sheikh and Munnu Khan reportedly told the court that it
was infact Salman Khan behind the wheel when the accident happened. Khan, who was allegedly driving a Toyota Land Cruiser ran over a group of people sleeping
on the pavement in suburban Bandra. Out of five people one was Killed and the other four were severely injured. On December 5, 2013 the court had ordered fresh trial af-
ter the charges against the actor were changed to culpable homicide not amounting to murder from the previous lesser charge of death by negligence. If he is convicted the actor
may face a jail term of upto ten years. The case has been going on from court to court but the argument still remains whether he was driving the car that night or not.
With election results drawing to a close and BJP’s win overpowering the Gandhi reign, the 30 -member index of the BSE sensex retreated up to 0.1 percent moments after gaining as much as 6.1 percent to a record high crossing 25,000 points. Shares rallied to a record high as rupee
strengthened to a 11 month peak against the US dollar. According to media reports, domestic shares like Ambuja Cements Ltd, ICICI Bank Ltd etc soared as hope for economic growth increases tenfold . Both foreign and lcal investors are looking forward to investing in India as a result of the pro-
industrialisation government. The BSE sensex on Monday reportedly opened up 200 points higher. It had risen to 210 points after Friday’s Lok Sabha Elections . The gainers included the likes of Coal India Ltd , Sesa Sterlite Ltd etc while the IT companies like Infosys Ltd and TCS declined.