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Lingayats get a reminder: it’s poll time CII to set up tourism bureaus Competing for good: Tale of two states Infrastructure to the FORE All these happened in TN… Wouldn’t the Mahatma like clean restrooms in our cities! Municipal Elections Benevolent businessthan... MOUs worth Rs.10.54 lakh crore signed KNPP with the grid A year of Telangana Industrial corridors to boost economy Bus services hit A giant push for millets KTR releases Annual Report TN can leverage NLC’s strengths... Nod to cow slaughter bill Pioneering education model Info-Park, more space Global meets galore An industrious idea Homestays, a budding tourism industry KCR’s I-day bonanza SIPB clears big proposals Divide & Prosper Vedanta to close Lanjigarh refinery Time to wake up Deputy Collector Sindhu! Green crimes galore TN to suffer serious loss Infra boost to the new capital It’s Karnataka chalo for Amit Shah? States - Kerala Miners asked to pay more Hype on Hyperloop A blueprint for the future Inter-State boundary More government apps Tasks for the new government States - Odisha Stirring the political cauldron Why the Congress won in Karnataka Monsoon fury Mango Diplomacy State of the States Illegal mining of sand MCL has a taste of judicial activism! Strike over salary hike Development depends on land availability... Launch of ins vikrant, India’s first indigenous aircraft carrier ODISHA State Forward Technology has raised the bar... AP in better shape City of foaming lakes and fire ‘E’ for enterprise Bringing magic of Rajasthan alive Kochi Metro Rail Project Power for all State under siege When business flocks to MP... Of development and welfare Enchanting and enterprising Tamil Nadu Come to Tamil Nadu where the action is... Global Investors Meet Post Poned With agriculture at its heart... Doubling production and tripling farmers’ income... Bhubaneswar IIT cries for completion Leaky old lorries, mini cabs for techies... Promise of a productive year A neta at it again! Land acquisition policy is ahead of national policy... Flurry of collaborations inked by AP Bifurcation yet to end water wars It indeed is attractive for investments Thalaivaa Enticing pest traps TN to suffer serious loss States Roundup Waste disposal model Land scams rock AP & TS Reducing carbon footprint... Fanciful Rao and tech-savvy Naidu Oh, la la. Winds of change...
 
Municipal Elections

In the municipal elections of Maharashtra, the BJP’s gains were spectacular. It was saffron all over. It swept Nagpur, Nashik and Pune and was behind the Shiv Sena in Mumbai metro and Thane. The Shiv Sena, which had been controlling Mumbai for more than three decades, could not get an absolute majority this time with the BJP breathing down its neck. Chief Minister Devendra Fadnavis, with his electrifying campaign established his popularity beyond doubt. Both NCP and the Congress had to eat crow.

The bitter fight between the BJP and the Shiv Sena prior to the elections notwithstanding, the BJP conceded the posts of Mayor and the Deputy Mayor to Shiv Sena without contest lest its coalition in the state and in the Centre gets jeopardised. 

The Municipal Commissioner from the IAS cadre and, not the Mayor, would exercise the real power in the corporation. The Commissioner is appointed by the state government.

The Mumbai Corporation is the wealthiest of all such civic bodies in India. But managing the Maximum City with a large contingent of migrant labour has been complex. There has been widespread corruption. The emergence of BJP with much larger numbers in the council and with the clean image of Modi and Fadnavis, there are expectations of a much cleaner administration.

 

BSE creates history

The initial public offer (IPO) of BSE Ltd., the first by a domestic stock exchange, got oversubscribed 51 times. The scrip was listed at the NSE at Rs 1085, with a 35 per cent premium over the issue price. The Bombay Stock Exchange was started under a banyan tree as an association of brokers towards the end of the 19th century. It grew steadily to become the spokesman and image of capital market in India. The Sensex has become a barometer for all investors.

For decades, the brokers owned the exchange. But with ownership resting with management, professionalism was at risk. When complaints of insider trading flew thick, the board was re-constituted with brokers removed from executive functions. I was appointed chairman of a new board with experts from banking, industry, brokers and the government, assisted and directed by SEBI. Elaborate care was bestowed on various aspects of management on the transformation into a corporate unit. 

The conversion of the BSE as an association into BSE Ltd. was achieved within two years.

- S Jambunathan, IAS (Retd)

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