Article Abstract:
Indian Prime Minister P.V. Narasimha Rao has appointed six new cabinet ministers to bolster his government in the upcoming state elections. Rao reappointed former ministers Madhav Rado Scindia and P. Chidambaram as heads of the tourism and civil aviation and the state ministries, respectively. Political analysts noted that the new appointments are not likely to influence the results of the state elections. However, they could prove significant in preserving Rao's position as head of the government and his party in the aftermath of the elections.
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Article Abstract:
Analysts agree that Indian truck manufacturers are a good buy for foreign investors in view of the country's growing truck market. Most of the attention has focused on Tata Engineering and Locomotive Co. but some experts also suggest a look at India's second-largest truck maker, Ashok Leyland Ltd. Ashok Leyland recently issued $137.8 million in global depositary receipts, thus providing investors with a cheaper way of getting into the Indian truck market.
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Government prosecutors in India have charged fourteen politicians of corruption two months before the holding of national elections. Almost all of the indictees are members of Prime Minister Narasimha Rao's Congress Party. Although many believe that the scandal can improve Rao's reelection bid, analysts predict the formation of a coalition government due to the absence of a party that can acquire a majority.
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