Uphill Task Ahead For NDA 2.0

On May 23, curtains came rolling down on the 2019 General Elections and Indians gave a clear mandate favouring the BJP-led-NDA government, which  indicates continuity of familiar policies. Stability for the next five  years, given the majority earned by the ruling party, favours acceleration in  reforms. This augurs well for markets, that gave a thumbs to both the benchmarks–Sensex and Nifty, hitting the 40,000 and the 12,000 mark respectively. With a government headed by Prime Minister Narendra Modi, all eyes would be the new cabinet minsters and who would hold the finance portfolio; as this individual would be responsible for shaping the country’s economic policies for the next five years. This puts an end to political uncertainty, which is medium-term positive and hence were duly celebrated by the markets. The euphoria would last for a couple of more weeks...