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Even this time it 'isn't' different

High valuations are riding on liquidity. A bear market can be triggered if the US Fed raises rates

Devangshu Datta 

Halfway into its term, the Bharatiya Janata Party (BJP) finally seems to be generating some economic momentum. The goods and services tax (GST) has made progress, though it's still an open question if the April 2017 deadline will be met. The Income Declaration Scheme (IDS) has pulled roughly Rs 65,000 crore into the white economy, mostly through pressure generated by aggressive data analysis. The Rs 30,000-crore or so that will accrue from this scheme will compensate to some extent for the low telecome spectrum realisations. On another front, the minister for roads, Nitin Gadkari, is ...

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