The RBI Monetary Policy announced on December 05^th took the financial market by surprise as the RBI opted to keep status quo on repo rates. The markets were expecting a rate cut of 25 bps. While the RBI did maintain its stance as accommodative, there was consensus among the six MPC members to hold repo rates at 5.15%. What was more interesting was that the MPC included inflation as a key criterion for the future direction of rates. In the last few policy statements, the MPC had purely focused only on the aspect of boosting GDP growth. That is the big change!

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If the GST Council and the government have their way, we could see a sharp spike in GST rates across the board. The Council also wants new services to be brought under the ambit of GST and also encourage the states to increase the cess on items like fuel to increase revenues. Why this urgency?

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As another calendar year comes to an end and a new year is about to commence, it is time to look forward at the big choices available for investors. Here are five themes that could play a major role in 2020 in wealth creation.

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During the week, Reliance Industries became the first even Indian company to scale market cap of Rs.1,00,000 crore and that was always on the cards. In fact, TCS is close behind and HDFC Bank is also not too far away. But the level of Rs.10 trillion has a much larger significance from the point of view of Indian capital markets as well as from the point of view of the capacity of RIL to constantly adapt to changes.

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