<b> T N C Rajagopalan:</b>Better news mixed with warning reminders

GST Council cleared 5 essential legislations that have to be passed by Parliament

Last week, enough good news on the economic front came in to lift the government’s spirits to a new high. However, some muted warnings also came along to suggest cautious celebrations.

Buoyed by the resounding success of the ruling Bharatiya Janata Party and its forming of governments in four of the five states that went to the polls, the stock markets boomed. On Thursday, the benchmark Sensex on the BSE exchange zoomed to over 29,500 and the National Stock Exchange’s Nifty climbed over 9,100, primarily driven by hope of bolder economic reforms and faster growth. The rupee strengthened to around 65.50