Connect with us

Current Affairs

Governor Invites BJP’s Yeddyurappa To Form Government

mm

Published

on

The Smarter way to get your business news – Subscribe to BloombergQuint on WhatsApp

Taking Stock Of The Karnataka Governor’s Decision

Chidambaram Questions Karnataka Governor’s Delay

Senior Congress leader P Chidambaram said that he did not understand why JD(S)’ chief ministerial candidate HD Kumaraswamy hasn’t been invited to form a government in Karnataka even when its alliance with Congress holds a majority.

Chidambaram added that he had heard the news of Yeddyurappa being invited to form the government but refused to comment on it as he did not have a confirmation yet.

Yeddyurappa Invited To Form Government

The Karnataka governor Vajubhai Vala has invited the single largest party BJP to form a government in the state led by BS Yeddyurappa, according to Doordarshan News.

Kumaraswamy Says Governor Assured That He Will Be Fair

The Karnataka governor has assured a delegation of JD(S) members led by their chief ministerial candidate HD Kumaraswamy that he will take decision on who gets to form a government according to the Constitution.

Kumaraswamy added that they will seek legal opinion if the JD(S)-Congress alliance is not allowed to form a government.

Siddaramaiah Confident Of Coming Back To Power

Outgoing chief minister Siddaramaiah, in a Twitter post, said he is confident about forming a new government in the state while expressing his gratitude for the election verdict.

Yeddyurappa Seeks Time To Prove His Majority

Former Karnataka Chief Minister BS Yeddyurappa met Governor Vajubhai Vala to stake claim to form the government in the state. “I have met the governor and sought adequate time to prove my majority in the floor of the house,” Yeddyurappa told reporters.

BJP Has No Interest In Propping Up JD (S) In The Long Term: Congress Spokesperson

“If JD(S) allies with the BJP, they are going to suffer the same fate that Peoples Democratic Party (PDP) is suffering in Kashmir. PDP is now extremely unpopular in Kashmir and the Bharatiya Janata Party (BJP) is extremely unpopular in Jammu,” Congress Spokesperson Salman Soz told BloombergQuint in an interview.

What Next For Karnataka?

The next move in Karnataka would be for the governor to satisfy himself on which of two factions command a majority in the house to form a stable government, according to senior advocate Sanjay Hegde. “The single largest party forming the government is the normal rule, but there are always exceptions to the rule,” he told BloombergQuint in an interaction.

He added that in such circumstances it would be “bit of a stretch” to say that the largest party can command a majority.

The governor has to ensure that whoever can form a stable government is chosen and a government is put in place as soon as possible, according to senior advocate Aryama Sundaram. “You have to ask yourself a primary basic question. What is the constitutional mandate? What is the constitutional intention?”

There is no other option, constitutionally, apart from inviting the JD(S)-Congress coalition to form the government, said Congress’ communications chief Randeep Surjewala in a media conference. “That’s why we hope that the JD(S) and Congress coalition will welcomed by the Governor, in accordance with the law and Supreme Court’s guidelines,” he added.

How Things Stand

If the current tally holds, then JD(S) and Congress combined have 114 seats, which is more than the halfway mark.

Karnataka Governor Takes Centre Stage As Both Sides Stake Claim

The Governor of Karnataka Vajubhai Vala will be the point of focus as both factions – the BJP and the Congress-JD(S) coalition – stake claim to form the government.

It is up to the understanding of the governor now to decide who will form the government, Subhash Kashyap, a former general secretary of the Lok Sabha told ANI. “It is up to him if he wants to call the single largest party or a coalition government.”

BJP’s chief ministerial candidate BS Yeddyurappa said that he is meeting with Vala at 5 pm. “We should be forming the government as we are the single largest party,” he said.

By convention, the governor invites the single-largest party to form the state government. However, in recent cases of the Goa and Meghalaya state elections a coalition government with majority seats have been allowed to stake claim even without a pre-poll alliance.

HD Kumaraswamy, the chief ministerial candidate for JD(S), has also written to the governor seeking to form a government in alliance with the Congress. He too is meeting the governor at 5:30 PM.

Vala has been the Karnataka governor since 2014. Prior to that the BJP member served as a cabinet minister in Gujarat between 1997 and 2012.

Kumaraswamy Seeks Appointment From Karnataka Governor

Janata Dal (Secular)’s HD Kumaraswamy has written to the Governor of Karnataka for forming a coalition government with Congress.

People Won’t Tolerate Congress’ Back Door Entry: BS Yeddyurappa

BJP’s chief ministerial candidate BS Yeddyurappa said that the Congress is trying to “grab power” despite being rejected by the people. “People are moving towards Congress mukt Karnataka,” he told reporters in a media conference in Bengaluru.

Deep-Dive Into The Electoral Math

Markets End In Red On Surprise Twist In Election

Indian market erased their gains and closed marginally lower after the Congress and Janata Dal (Secular) said that they would join hands to form the government in Karnataka. Investors were expecting a BJP government in the state after it emerged as the single-largest with over 100 seats.

Also Read: Sensex, Nifty End Lower On Karnataka Cliffhanger

Doing Everything To Keep BJP Out: JD(S) Leader

The Janata Dal (Secular) has accepted Congress’ offer for a coalition government, according to its leader Danish Ali. The two will jointly go and meet the governor after 5:30 PM, he said.

Win Some, Lose Some

Outgoing Karnataka chief minister Siddaramaiah has secured a victory in one of the two seats he was contesting from. The win in the Badami constituency was by a very thin margin. He lost by over 36,000 votes in Chamundeshwari to GT Devegowda of the JD(S).

Congress Can’t Change The Writing On The Wall: BJP Spokesperson

The mandate of the people is against Congress and they cannot change it, Nalin Kohli, BJP Spokesperson, told BloombergQuint. “The writing is on the wall. The vote is against Congress so directly or indirectly the voters have rejected them.”

He said that even with Congress and JD(S) joining hands, BJP will have the chance to form the government as it is the single largest party.

How Things Stand

Twist In The Tale: Congress Offers Support To JD(S)

In a turn of events, senior Congress leaders said they will offer full support to Janata Dal (Secular) for forming the government in Karnataka. The JD(S) has accepted its offer, according to Ghulam Nabi Azad of the Congress.

Majority of the people in Karnataka prefer a non-BJP government, Congress’ Rajya Sabha member Rajiv Gowda told BloombergQuint in an interaction. “Congress had more vote share than the BJP. When you add JD(S)’ vote share, the lead becomes sizable,” he said.

Here’s are the key things that Gowda said:

  • Mandate comes when you win a majority.
  • In other states like Goa, when BJP did not get a mandate they still managed to go ahead and form a government.
  • Congress had more vote share than the BJP. When you add JD(S)’ vote share, the lead becomes sizable.
  • Majority of people of Karnataka preferred a non-BJP party.
  • These are all decisions that will be taken in the next few days.
  • As of now we are working towards a coalition.
  • Mr Kumaraswamy is still a very popular leader.

Going by the leads tally at 3 PM, a Congress-JD(S) coalition would have 111 seats, while BJP will have 108 seats. That’d be a hung assembly.

RSS Cadre Swung Votes In Coastal Karnataka, Says Ram Madhav

BJP’s general secretary Ram Madhav credited the party’s performance in Karnataka to the Rastriya Swayamsevak Sangh cadres, who according to him helped “enormously” in swinging the coastal districts.

“BJP’s southward march has begun,” he added.

BJP’s performance in coastal Karnataka was key as the region was dominated by Congress in the previous election.

BJP’s CM Candidate Yeddyurappa Crosses The Finish Line

Chief ministerial candidate BS Yeddyurappa won in the Shikaripura constituency by a comfortable margin.

Congress Leader Moily Reflects On Mistakes

Senior leader M Veerappa Moily said the Karnataka election trends, which point towards a BJP victory, were “quite disappointing”. Congress’ loss was on account of “wrong caste management”, he told reporters in New Delhi.

Chief Minister Siddaramaiah had granted religious minority status to the Lingayat community ahead of the assembly elections to woo its voters. Moily said that Congress shouldn’t have taken up that issue just before the polls.

Markets Continue To Slip Off Day’s High

For more updates on the markets CLICK HERE!.

Union Minister Nitin Gadkari Confident Of BJP’s Win In 2019

BJP’s Growing Influence In India

After emerging as the single largest party in Karnataka, the BJP is now set to govern in 21 states in India.

BJP Parliamentary Panel Meet

The Parliamentary Board of the Bharatiya Janata Party is set to meet at 6 p.m. at the party headquarters in New Delhi.

Madhya Pradesh CM Reacts To Karnataka Verdict

BJP’s Southern March Has Begun, Says Ram Madhav

Karnataka Election Results 2018: CM Siddaramaiah Trails In Chamundeshwari

Karnataka Election Results 2018: Market Off Day’s High

For more updates on the markets, click HERE!

Karnataka Election Results 2018: BJP’s Performance In Udupi, Dakshni Kannada Regions

The BJP currently leads on all five seats in the Udupi region where it managed to win only a solitary seat in 2013.

The BJP has also reversed the trend in the Dakshin Kannada region where it won only a single seat in 2013 compared to seven for the Congress. The saffron party currently leads in 7 seats while the Congress has a single lead to its name so far.

Karnataka Election Results 2018: BJP’s Strong Return In Mysuru, Belagavi Region

One of the biggest factors behind the BJP’s strong showing was its performance in regions like Mysuru and Belagavi. The party currently leads in 25 seats this time around in the Mysuru region compared to 6 that it won in 2013.

A similar trend is seen in the Belagavi region where the party leads in 34 out of the 56 seats. It had won only 14 seats in 2013.

Karnataka Election Results 2018: Current Vote Share Pattern

Karnataka Election Results 2018: The Picture At Noon

Karnataka Election Results 2018: Market Reactions

Nilesh Shah, Kotak Mahindra AMC

  • Markets to use Karnataka outcome to forecast 2019 polls
  • Markets want stable, reform-oriented government
  • Earnings momentum to drive markets going ahead

Jai Bala, cashthechaos.com

  • Market had bottomed out near 9,950
  • 11,400 in place for Nifty. Just a question of when

Porinju Veliyath, Equity Intelligence India

  • BJP win to boost market sentiment
  • Modi win in 2019 important follow-up for economic reforms

Sudip Bandyopadhyay, Group Chairman, Inditrade Capital

  • BJP win positive in short-medium term
  • State elections don’t matter in long-term
  • Single party victory positive for investor sentiment

Ajay Srivastava, Dimensions Corporate Finance Services

  • Markets happy with stability
  • Age of largecaps is here to stay
  • Prefer banks, consumer companies in the portfolio

Ajay Bagga, Market Expert

  • Can see profit booking towards end of the day
  • Expectations were low. Simple majority welcomed strongly
  • Would wait and watch for other factors like yields, global cues

Ritesh Jain, BNP Paribas Asset Management

  • Need to run a tighter fiscal policy
  • Need to ensure lower volatility, stable macros for investors

Vikas Khemani, Edelweiss Securities

  • Results in-line with expectations
  • Rising crude, interest rates remain a concern
  • Long-term fundamentals looking positive

For more updates on the markets, click HERE!

Karnataka Election Results 2018: BJP CM Candidate Yeddyurappa Leads In Shikaripura

BJP’s chief ministerial candidate BS Yeddyurappa looks set to win his eighth-term as MLA from Shikaripura. Since his maiden win in 1983, Yeddyurappa has lost from this seat only in 1999. His son, BY Raghavendra is the incumbent MLA from this seat.

Big Victory For Party, Says BJP State In-Charge Prakash Javadekar

Karnataka Election Results 2018: Local Leadership Lost Karnataka Polls, Says DK Shivkumar

Karnataka Election Results 2018: HD Kumaraswamy Leads In Channapatna & Ramanagaram

People Have Rejected Siddaramaiah Due To His Attitude, Says GT Devegowda

JD (S) candidate GT Deve Gowda leads Chief Minister Siddaramaiah by over 17,000 votes in Chamundeshwari, according to ANI.

Karnataka Election Results 2018: Nifty, Sensex Off Day’s High; Nifty Bank Holds Gains

For more updates on the markets, click HERE!

Karnataka Election Results 2018: BJP Heads Towards The Half-Way Mark

Karnataka Election Results 2018: Mallikarjun Kharge’s Son Priyank Leads In Chittapur

Karnataka Election Results 2018: Siddaramaiah’s Son Yatindra Leads In Varuna

Karnataka Election Results 2018: What Changed From 2013?

Karnataka Election Results 2018: Markets Cheer BJP Lead

All three benchmark indices gained over one percent each as the BJP continued to consolidate its lead in Karnataka. All sectoral indices gained while the India Volatility Index (India VIX) dropped over 11.5 percent.

For more updates on the markets, click HERE!

Karnataka Election Results 2018: BJP Crosses The 100-Seat Mark

The Bharatiya Janata Party crossed the 100-seat mark in the Karnataka Assembly, heading towards the majority mark of 112.

As of 10:30 a.m., the BJP led in 102 seats compared to 64 for the Congress. The JD (S) was ahead in 44 seats while others were ahead in 3 seats out of the 222 seats for which polling took place on Saturday.

Karnataka Election Results 2018: CM Siddaramaiah Trails In Chamundeshwari

Chief Minister Siddaramaiah is facing a tough battle from both his seats. While he is trailing in Chamundeshwari against his one-time associate GT Devegowda of the JD (S), ANI reports that he leads by a slender margin of 160 votes in his other constituency Badami.

Karnataka Election Results 2018: Celebrations Begin At The BJP Office In Bengaluru

Nearly Two Hours Into Counting In Karnataka; What Do You Think?

Karnataka Election Results 2018: Nifty Scales 10,900 Mark

As the BJP continues to move closer to the majority mark in Karnataka, the Nifty has scaled the 10,900 mark. The benchmark index has reclaimed this level for the first time since February 2, 2018.

Titan, Power Grid and Tata Steel were among the top Nifty Gainers while all sectoral indices traded with gains.

For more updates on the markets, click HERE!

Confident Of Gaining Majority, Says BJP’s Sadananda Gowda

Karnataka Election Results 2018: Trends At 10 a.m.

Chief Minister Siddaramaiah Leads In Badami

Karnataka Election Results 2018: BJP Extends Lead; Market Extends Gains

Karnataka Election Results 2018: Trends At 9:35 a.m.

Markets Surge As Trends Show BJP In The Lead

After a subdued start, the markets have gained momentum as trends from Karnataka show the Bharatiya Janata Party in the lead. Most sectoral indices are trading with gains. Banks, Metals and Realty stocks are among the top gainers.

For more updates on the markets, click HERE!

Karnataka Election Results 2018: Trends At 9:25 a.m.

Options Of Alliance With JD (S) Are Open, Says Congress’ Ashok Gehlot

Karnataka Election Results 2018: Trends At 9:15 a.m.

Markets Open On A Flat Note On Counting Day

Indian equity markets opened on a flat note as early counting trends in Karnataka indicated a close finish. The rupee continued to remain weak while the 10-year yield hardened further due to a higher CPI print in April.

Currency Weak, Yields Harden On Opening

For more updates on the markets, click HERE!

Karnataka Election Results 2018: Trends At 8:50 a.m.

SGX Nifty Trades With A Negative Bias

For more updates on the markets, click HERE!

Karnataka Election Results 2018: First Trends At 8:30 a.m.

Counting Begins

Counting for 222 seats in Karnataka has begun. Postal ballots are to be counted first.

Also Read: Karnataka Elections 2018: Key Numbers To Watch Out For

Counting To Begin Shortly

Also Read: Karnataka Election Results: 10 Things To Watch

Key Contests To Watch

Varuna: The sons of Yeddyurappa and Siddaramaiah were expected to contest against each other in Varuna. With the BJP denying BY Vijayendra a ticket, that possibility was averted. A doctor by profession, Yathindra Siddaramaiah is making his electoral debut. He is banking on the goodwill for his father.

Yathindra will be challenged by BJP’s Basavaraju, who has been running a strong campaign. By denying the ticket to Vijayendra, the BJP drummed up the charge of nepotism against the Congress.

Chamundeshwari: While Congress workers are pretty confident of Yathindra’s victory in Varuna, the ‘battle for prestige’ lies in the incumbent chief minister’s old constituency Chamundeshwari. The 69-year old Chief Minister will be up against his one-time associate GT Deve Gowda of the JD(S), who has not lost a single election from the constituency; whether it be a Zilla Parishad or a municipal election.

Ballary: The traditional stronghold of the Reddy brothers will be another key contest to watch out for. The contest here though is multi-directional, with rebels in both Congress and BJP looking to topple the apple cart. The BJP has fielded G Somashekar Reddy, the elder brother of G Janardhan Reddy against Anil Lad of the Congress. Looking to spring an upset will be Hothur Mohammed of the JD(S) who is also a mine owner.

Exit Polls Throw Up A Fractured Mandate

Karnataka could return a split verdict with the BJP as the single largest party and former Prime Minister HD Deve Gowda a kingmaker, an aggregate of five exit polls showed on Saturday.

According to a mean tally of five exit polls, the BJP could get 100 seats while the Congress is likely to finish a close second 90 seats – both considerably short of a full majority of 113 seats. If the results today are in line with most polls, the JD(S) led by former Prime Minister HD Deve Gowda may well turn out to be the ‘kingmaker’.

Will The Hand Be Held? Or Will The Lotus Bloom?

Good Morning!

It’s decision day for Karnataka today. Counting of votes begins at 8 am today in 222 of the 224 constituencies that went to polls on May 12 amid a record 72.36 percent voter turnout.

The southern state is one of the last remaining bastions for the Indian National Congress. And while most exit polls have predicted a hung assembly, it remains to be seen if the Bharatiya Janata Party will wrest power from the Congress in a state that has not voted an incumbent government back to power in three decades. The results are also important for the HD Deve Gowda-led Janata Dal (Secular), which might play the kingmaker as predicted by the pollsters.

Also Read: Karnataka Exit Polls Predict JD(S) Could Emerge As Kingmaker

While the rest of the country has been slowly swept away by the saffron wave, Karnataka also remains important for Prime Minister Narendra Modi’s Bharatiya Janata Party. The results will be an early indicator of the people’s sentiment ahead of the general election next year.

The Smarter way to get your business news – Subscribe to BloombergQuint on WhatsApp

. Read more on Karnataka 2018 by BloombergQuint.

Joel Picardo has been in the Cryptocurrency space for the last 2 years and got to know about it through his mentor Arvind Borhade (CTO at U.CASH). He is currently managing the operations at UCASH India. He is an individual filled with optimism and destined to be a future billionaire. His work ethic and dedication are second to none. Recently, he has started investing in stocks. He is an integral part of TheFinanceTime.

Continue Reading

Trending