NEW DELHI Dinesh Trivedi's resignation as railway minister has been accepted, Prime Minister Manmohan Singh told lawmakers in parliament on Monday.
Trivedi quit on Sunday after his announcement of an increase in passenger fares in last week's railway budget prompted a furious response from his Trinamool Congress party.
The resignation and the fare rollback that is likely to come, underscored the UPA government's inability to take unpopular policy steps.
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With the Nifty breaching 8,500, sentiments are again bullish. But markets have been in the 8,200-8,600 range for some time and stocks across the board do not give the required confidence except for the liquidity factor. Many frontline stocks are not participating on the upside and the core sector is in a downtrend, writes Ambareesh Baliga. Column