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Sat 17 May, 2014

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India's Narendra Modi declares victory for BJP in landslide result

Incoming Indian leader Narendra Modi has pledged to make the 21st century "India's century" after leading his Bharatiya Janata Party (BJP) to a landslide election victory.

"I want to make the 21st century India's century. It will take 10 years, not very long," Mr Modi told supporters in his home state of Gujarat.

Meanwhile, India's ruling Congress party has conceded defeat as election results show the party's worst-ever result.

"We accept defeat. We are ready to sit in the opposition," senior Congress leader and spokesman Rajeev Shukla told reporters at party headquarters in New Delhi.

"Modi promised the moon and stars to the people. People bought that dream."

The numbers confirm the BJP and its allies will win an absolute majority of more than 272 seats in the lower house of parliament.

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The Drum

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The fungible world of federal budgets

When you pay your taxes, they are not tied to a particular purpose - they just go into a big pot and that pot is then drawn on for government purposes.

So how can the Federal Government ensure that any extra money raised from higher fuel taxes will only be spent on roads?

It can't. Don't be blinded by polysyllabic policy wonks or political shonks; it's a fungible world out there and no attempt at hypothecation can make it otherwise.

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Just In

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GM to pay record $35m fine over recall scandal

General Motors has been fined $US35 million because it failed to disclose defects in car ignitions which have been linked to driver deaths.

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World

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GM to pay record $35m fine over recall scandal

General Motors has been fined $US35 million because it failed to disclose defects in car ignitions which have been linked to driver deaths.

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Business

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Leighton reaches $69m shareholder class action settlement

Construction giant Leighton has settled a shareholder class action related to a massive profit write-down three years ago for just over $69 million.

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Politics

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World leaders congratulate India prime minister-elect Modi

World leaders congratulate India PM-elect Narendra Modi, including Pakistan's prime minister, Nawaz Sharif, and the White House.

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Sport

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Broncos outlast depleted Titans

The Brisbane Broncos outlasted a depleted Gold Coast Titans to record a 22-8 win at Lang Park on Friday night.

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Science and Technology

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13,000-year-old skeleton sheds light on Native American ancestry

One of the oldest genetically intact skeletons yet found is helping scientists understand the western hemisphere's earliest humans.

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Environment

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Coalition stands firm on World Heritage forest reduction

The Federal Government is ignoring a Senate inquiry's advice on a World Heritage-listed forest in Tasmania after the inquiry condemned plans to delist the forest.

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