A bag full of rupees: broker claims he paid off the prime minister

Article Abstract:

Harshad Mehta, a stockbroker implicated in the Bombay, India securities trading scam, alleged on Jun 16, 1993 that he gave 6.7 million rupees to Prime Minister P.V. Narasimha Rao on Nov 4, 1991. Mehta stated that the payment was made to gain access to Rao rather than to buy any particular favor. Rao denied the charge. In any case, India's vague regulations against pay-offs will make prosecuting him difficult. Mehta's allegation may weaken Rao's political position by providing the leading opposition party, the Hindu-nationalist Bharatiya Janata Party, with an issue.

Investigations, Political aspects, Political corruption, Testimony, Mehta, Harshad

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Loss of face: Congress defeat in Bihar weakens Rao's position

Article Abstract:

Recent state-govt elections in India have further hampered the ruling Congress Party and Prime Minister PV Narasimha Rao while worrying foreign investors. Congress lost Bihar state despite hopes that a win there would offset other losses, leaving the party with only Punjab and Madhya Pradesh as major states under direct control. Sentiment in the party is swinging against Rao, who remains confident of his control. Events in Bombay and on a national level also send troubling signs of anti-foreign-investor fervor.

Political activity, Elections, Congress-I Party (India), Bihar, India (State), Janata Party (India)

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