Here's a two-pronged approach to navigate an ever-rising stock market
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Will the ruling regime resort to regressive policies in response to an unfavourable election outcome? It may be at odds to ask this strange question, that too at this juncture. If anything, this regime has deservedly earned the reputation for some of the most progressive reforms like the Insolvency Code, Direct Benefit Transfer, Monetary Policy Committee, GST and tax reforms etc. The credit for India’s macro-stability and fiscal success goes directly to these reforms. At the same time, the credit for one of the most regressive budgets presented in 2019 also goes to this regime. Fresh from winning the second term with a better tally than its first term, the then new finance minister ventured into one of the most regressive super-rich surcharge in the full budget presented then. Expectedly, it triggered a self-manufactured all-round pessimism across the markets which lasted nearly a year. Of course, the damage was hugely contained by rollin...