By Ruma Dubey

The biggest trigger that we all were waiting for is finally come and gone. And the market behaved as predicted – profit booking after the build-up for so many months and years. It is like the market saying, “Oh well, it’s done! What’s next?”

But through all this, more than the actual passing of the GST Bill, what was extremely fascinating was the entire debate in the Rajya Sabha yesterday. The way in which the ministers presented their thoughts, putting their perspective on the Bill in the most logical way, it was a real eye opener.

If one had even merely listened to the various speeches, it would have got us all so well educated on the topic of GST. The eloquence with which some ministers spoke actually made one proud and look past their pasts. It showed yesterday why the people have chosen them in the first place but along the way, playing politics took center stage, relegating these illuminating debates to the background.

Yesterday, it was also wonderful to see that when the Bill was put for a vote, there were 203 “Ayes” and zero “no’s.” AIADMK walked out which meant that all those who were in the House, voted. This was more historic than the GST. This very rarely happens that all the ministers, put their differences behind, politics behind and for once, look ahead at what is best for the country and work towards it. There was no BJP or Congress divide yesterday; it was all like one large Govt, unified for once.

This does prove that if dirty politics does not take a priority and if the ministers really had only the country’s interest in mind, Parliament will indeed be a temple of democracies. This GST Bill symbolized this temple. The Rajya Sabha and the Ministers worked in tandem, debating and passing the Bill. In recent years, it has happened so rarely that such an occurrence, which should actually be the norm, has become a reason for celebration. The Women’s Reservation Bill, The Nuclear Bill, the Lokpal Bill – these are the very few debates which will remain etched in our minds.

Till 2^nd August, the productivity of the Lok Sabha during this Monsoon session has been placed at 97% while that of Rajya Sabha at 92%. Now that’s a record by any standards! Yes, yesterday, we saw democracy at its best; anyway we cannot wish too much of a good thing!

Now what next? Well, for us in the markets now, it is back to tracking numbers Bharat Forge, Dhampur Sugar, EID Parry, GSK Consumer, India Glycol, Marico, Lakshmi Machines, Pfizer, Pondy Oxides are some of the companies who will declare Q1 numbers.

Monsoon has been good so far, in fact too good in many parts. Marathwada and Bundelkhand, the most affected regions have also got rains. Thus good rains will mean bountiful harvest and that will mean a flourishing country. At least from the monsoon perspective, things look good.

The Govt will deposit the 7^th Pay Commission cheques this month and this is sure to make Govt employees very happy and companies are expecting sales and productivity to pick up.

We have the credit policy on the 9^th of August and if Rajan is leaving in September as scheduled, then this is his last one. To expect that he will end it with a rate cut is what will keep all guessing and the markets buoyed.

If we thus decide to look, we can find reasons to be happy or else, we have to contend with a long monsoon….