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