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from Expert Zone:

Markets Weekahead: A decisive mandate for equities

(Any opinions expressed here are those of the author and not of Thomson Reuters)

Not even exit polls could have predicted the landslide election victory that ‎has put the BJP's Narendra Modi in the driver's seat for India.

The Nifty, after the initial euphoria of a 6 percent upswing, ended Friday at 7203, merely 80 points higher than the previous day. It was a typical “sell on news” phenomenon.

Hindu nationalist Modi gestures to his supporters during a road show in New DelhiThe clean sweep for the BJP has increased expectations from the new government and  does not leave room for excuses. The prime minister's chair will test Modi's ability to deliver on a national platform.

The next few days would be the honeymoon period and after the initial revelry,  people would closely watch the process of government formation and the new ministers who will take up portfolios such as finance, home, defence and external affairs. We would also need to see how Modi sets the framework for the revival of fast-paced economic development. It's easier for him because of the decimation of various ruling governments at the state level.

from India Insight:

Interview: Narendra Modi has marginalized his own party – Jairam Ramesh

By Frank Jack Daniel, Jo Winterbottom and Mayank Bhardwaj

Jairam Ramesh, the rural development minister in the Congress-led government, told Reuters on Tuesday that Narendra Modi's career reminded him of the rise of the Third Reich, the strongest comments yet by a minister of his rank on the Bharatiya Janata Party leader.

(Click here for main story)

Here are the edited excerpts from the interview:

Where do you feel public sentiment is at the moment?

If you look at the social media, the sentiment is in one way. If you travel like the way I do to remote parts of the country where social media footprint is very very inconspicuous, the sentiment is some other way. We are going through the noise phase of the election campaign … Sentiments change, by the way; there is no such thing like a permanent sentiment.

from Expert Zone:

Rajan panel proposals not a cure for disparity among states

(Any opinions expressed here are those of the author and not of Thomson Reuters)

The report of a committee headed by Raghuram Rajan on backward states has drawn attention to development disparities among states in India. Not that these were not known or assessed before. The report offers an index for identification of states according to the degree of backwardness and their share of financial assistance from the central government.

The committee’s recommendations, even if efficiently implemented, are not likely to show results soon. The per capita income in Bihar, for example, is a fourth of the per capita income of Goa and half that of Gujarat. But it is encouraging that GDP growth in backward states has recently accelerated and, to some extent, reduced the income gap. It took place because state governments realized that growth counts politically, not because of any additional assistance from the central government.

from India Insight:

Meet Prakash Tilokani, the man who clicks India’s rich and famous

When Prakash Tilokani started taking pictures at the age of 16, he had no clue that one day he would be the man behind the lens at India Inc's weddings.

From selling pictures at 20 rupees (32 cents) each in 1984 to charging at least 300,000 rupees ($4,800) for a day now, it’s been an eventful journey for 47-year-old Tilokani, one of India’s most famous wedding photographers.

from India Insight:

Gujarati film ‘The Good Road’ is India’s Oscar entry

The Good Road”, a Gujarati-language film, has been chosen as India’s entry to the 2014 Oscars, stealing attention from a critically acclaimed love story that was screened at the Cannes film festival this year.

Gyan Correa’s debut film about two children lost in the Kutch desert won a national award for best Gujarati-language film this year, but was a dark horse among the 22 movies in the running to be India’s official entry to the Oscars in the best foreign film category.

from India Insight:

Interview with BJP leader Narendra Modi

By Ross Colvin and Sruthi Gottipati

Narendra Modi is a polarising figure, evoking visceral reactions across the political spectrum. Critics call him a dictator while supporters believe he could make India an Asian superpower. (Read a special report on Modi here)

Reuters spoke to Modi at his official Gandhinagar residence in a rare interview, the first since he was appointed head of the BJP’s election campaign in June.

from India Insight:

Narendra Modi follows his roadmap to Delhi

The Narendra Modi charm offensive showed up in full force in India's capital on Wednesday. Modi, the main opposition party's likely prime ministerial candidate gave a speech on progress and development at one of Delhi's premier colleges, the youthful audience greeted the 62-year-old politician with gusto, news outlets called his speech a "roadmap for India," protesters showed up en masse and Twitter went bananas.

If not a direct declaration of grand political ambition, the nearly one-hour speech at the Shri Ram College of Commerce sounded like a pitch for a national role: here was the chief minister of Gujarat talking about development to more than a thousand students in New Delhi, staying away from the usual and divisive political overtones, repeatedly referring to the youth of the country (future voters), and outlining his vision for India.

from India Insight:

Delhi rape case: Verma committee report dredges up old stereotypes

Like many journalists who follow Indian affairs, I have been digging through the 657 pages of the Verma committee report on rape in India and attitudes toward women in that country. You can read about its main conclusion in our wire story, namely:

India needs to implement existing laws, not introduce tougher punishment such as the death penalty, to prevent rape, a government panel set up to review legislation said on Wednesday, following a brutal gang rape that shook the nation. Panel head, justice J.S. Verma, rejected outright the idea of the death penalty for rape cases, a demand from some protesters and politicians in the days after the 23-year-old physiotherapy student was attacked on a moving bus.

from India Insight:

‘Who Wants to Be a Millionaire’ meets ‘Indian Idol’ in West Bengal

(Any career-destroying attempts at irony or humour are the responsibility of the author, and not of the chief ministers of Gujarat or West Bengal or any of their associates.)

Everybody's talking about how Gujarat Chief Minister Narendra Modi has fostered fair weather for businesses and investors in his state. Maybe he's making it too easy. In West Bengal, it looks like investors and business people must work a little harder for their returns. Take a look at that state's chief minister, Mamata Banerjee. She isn't just making business people and investors work for their profits; she's making them sing.

from Breakingviews:

Modi’s Gujarat win doesn’t mean he will rule India

By Andy Mukherjee

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Narendra Modi’s resounding election victory in the western Indian state of Gujarat has made Indian businessmen optimistic. Many see his win, the third in a row, as a sign that the centre-right leader with a reputation for effective administration could be ruling the nation in 2014. But a chequered past, an autocratic personality and the peculiarities of India’s coalition politics make Modi less than a shoo-in.

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