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

Author :
Reported On :
Sector :
Shoulder :
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.
Read more
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
S-15, Industrial Estate,
Chennai - 600 032.
PHONE: +91 44 22501236