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Manas ChakravartyAt last, we know why the central government was so keen on trying to get the Reserve Bank of India (RBI) to part with its reserves or to speed up bank lending. It was a bit of a mystery why the government of the fastest-growing large economy on the planet was so concerned about growth. The results of the state elections tell us that huge sections of the population were being left out of that growth and the ruling party knew that and was terribly worried about it.The signs of disenchantment have been visible for quite some time. As we pointed out a few days ago, the Reserve Bank of India’s consumer confidence survey showed widespread pessimism about the economy, which has now been translated into votes against the government.Close Is there reason for concern? These were state elections, where local issues dominate and things may well be different in the national elections. More fundamentally, as some economic commentators point out, do governments really make all … [Read more...] about Opinion | What the results of the state elections mean for Modi’s Brave New India

Shishir Asthana"Do not judge me by my success, judge me by how many times I fell down and got back up again."These words from Nelson Mandela are true for every successful person, be it a businessman, sportsperson, musician or a trader. It is especially true in the case of Asit Baran Pati, who rose like a phoenix from the ashes of his creation.Close From a well paying Investment Banking job to live off his mother’s pension money, Asit has seen it all. It was his confidence and persistence in search of a winning formula and sticking to it that made him a successful trader. The taste of freedom between jobs when he attempted to trade fulltime, was his driving force. related news How Vishal Mehta undertook a journey from discretionary to system trading for consistent gains Mitesh Patel: The angry young man of options trading Sushil Bhagat: An all-round investor, options trader and successful corporate executive A short term momentum trader and a scalper, he is among the … [Read more...] about Asit Baran Pati | An options buyer journey to financial freedom

BSP supremo Mayawati on December 7 asked the Uttar Pradesh government to ensure "proper justice" to the family of Unnao rape victim who succumbed to severe burns in Delhi hospital. The death of the 23-year-old woman is extremely painful and the BSP is with the victim's family in this hour of grief, she said in a tweet in Hindi."UP government should take special initiative soon to provide proper justice to the victim's family. This is the demand of justice and people," she said.In another tweet, she added, "To prevent such traumatic incidents all over the country, including in UP, state governments should create fear of law among people and in view of the incidents, the Centre should also make a law to ensure strict punishment by hanging to death within a stipulated time-frame."Close Mayawati's reaction comes after the death of the Unnao rape victim in Delhi hospital. related news Trade war goes digital: countries eye tariffs on Internet economy Woman dancer from Mumbai … [Read more...] about Ensure proper justice to Unnao rape victim’s family: Mayawati asks UP government

Much has been made of the support given to demonetisation by Krishnamurthy Subramanian, the government’s new Chief Economic Advisor. To be sure, he did write in his columns that demonetisation was a revolutionary act and that the poor were not the worst affected. He had disparaging things to say about the policies of the Gandhi dynasty, just before the elections to the Uttar Pradesh state assembly. He also wrote about the rise of crime in Uttar Pradesh under Mayawati and the Samajwadi Party, again just before the elections there.But while these views may have earned him brownie points among the powers that be, to his credit Subramanian hasn’t shied away from having independent views on several other subjects. For instance, he castigated the move to remove former Reserve Bank of India Governor Raghuram Rajan, who had been his teacher; saying we don’t treat our heroes well. He has been critical of the non-implementation of several of the recommendations of the PJ … [Read more...] about Quick Take | Gandhi family critic, Raghuram Rajan fan: How CEA Krishnamurthy sees the world

Finance Minister Nirmala Sitharaman on December 7 said that a tax rate cut proposal is “one among the many things we are thinking to boost growth.”Sitharaman made the statement at the Hindustan Times Leadership Summit, where she addressed a gamut of issues.The Finance Minister added that they would listen to learned economists who “are telling us that we have to move towards more fiscal stimulus.”Close In what would be good news for the common man, she further spoke about simplifying the tax regime and making it harassment-free. related news Moneycontrol Pro Weekender: The curious incident of the MPC in the slowdown Unnao case: Want to see accused shot dead or hanged, says victim's father Bank of Japan to consider offering bleaker view on output as trade war bites: Sources “We have commenced tax enquiries through the 'faceless' method and are moving towards harassment-free tax assessment – a simplified and exemption-free tax … [Read more...] about Tax cuts under consideration, focus on boosting growth, says Nirmala Sitharaman