When Narendra Modi (Na Mo) won the elections there was euphoria. Then we were told Na Mo got lucky. Oil prices went down.

Wow. but hey the “Modi Magic” continues in India.  Since last election of NaMo,  India has been blessed with good fortune.

Here’s one way to measure India’s new found flow of money: India’s foreign exchange reserves rose $1.39 billion in the last week of March alone, putting the RBI spare fund at $341 billion. India is almost on par with Russia and Brazil. This is obviously because of the huge amount of money that has flown into Indian debt and the equity markets. The RBI WAS last seen buying US $ – to stop the currency from appreciating. Funny. Good reserves, good currency rates, many Nri wanting to set up MANUFACTURING base in the better managed states.

Inflation is low – food inflation is low – but some unseasonal rains could have done some damage to the pricing.

Found a few small businessmen setting up small – 350 to 500 employee units in Gujarat. These are the real small business houses which are likely to make a difference in the long run.

Modi has proposed many changes to the law book. A lot of the useless laws are being stuck down, and that will release a lot of aministrative time for the executive. The changing of the land law will make it easier for people to buy land for industrial usage.

The land bill will surely pace up development in rural infrastructure. Those two items  have been used by Modi as addressing the masses is the land acquisition bill. He is also pushing the defence industry.

“Those spreading lies do not know how to protect the interests of farmers,”

said Narendra Modi in a rally last week. So true!!