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New Delhi [India], June 4 (ANI): With counting slated for today for the <keyword id="19923279" type="General" weightage="20" keywordseo="Lok-Sabha-elections" source="keywords">Lok Sabha elections</keyword>, which have seen the largest voter participation, the electoral fate of several leaders across the political spectrum will be decided.<br /><br />Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="Narendra-Modi" source="keywords">Narendra Modi</keyword>, Home Minister <keyword id="19899491" type="General" weightage="20" keywordseo="Amit-Shah" source="keywords">Amit Shah</keyword> and Defence Minister Rajnath Singh are among the senior BJP leaders in the fray. Key opposition leaders, including former Congress chief <keyword id="19895780" type="General" weightage="20" keywordseo="Rahul-Gandhi" source="keywords">Rahul Gandhi</keyword>, NCP's <keyword id="20083020" type="General" weightage="20" keywordseo="Supriya-Sule" source="keywords">Supriya Sule</keyword> and Samajwadi Party chief Akhilesh Yadav, are also contesting the poll.<br /><br />  <div type="javascript" title="Custom" contenttype="Infographic"><cdata><![CDATA[]]></cdata></div><br />Here is a look at some key contests involving prominent leaders:<br /><br />1. Narendra Modi: Prime Minister Modi, is seeking a third term from Varanasi, the constituency that paved his way to the Lok Sabha after his stint as Chief Minister. He is pitted against Congress leader and INDIA bloc candidate Ajay Rai. PM Modi won the seat by huge margins in 2014 and 2019.<br /><br />2. Amit Shah: The Union Home Minister entered the Lok Sabha in 2019 from Gandhinagar and is seeking his second straight term from the seat, which has been held by BJP veterans in the past. Shah, who earlier served as BJP President, is against Congress candidate Sonal Patel.<br /><br />3. Rahul Gandhi: Congress leader Rahul Gandhi is contesting the Lok Sabha elections from two seats -- Wayanad and Raebareli. Gandhi, who lost the family bastion seat of Amethi in 2019 and entered the Lok Sabha from Wayanad, is aiming to maintain the party's lone bastion left in the state. He is up against BJP's Dinesh Pratap Singh and BJP's K. Surendran, as well as CPI-M's Annie Raja in Wayanad.<br /><br />4. Supriya Sule and <keyword id="20734555" type="General" weightage="20" keywordseo="sunetra-pawar" source="keywords">Sunetra Pawar</keyword>: The Baramati constituency is another 'hot seat' that will decide the future of the 'Pawar' legacy. NCP supremo Sharad Pawar's daughter Supriya Sule is against his cousin Ajit Pawar's wife, Sunetra Pawar, from the seat. The exit polls have predicted a tight contest.<br /><br />5. <keyword id="42749" type="General" weightage="20" keywordseo="Shashi-Tharoor" source="Orion">Shashi Tharoor</keyword>: Congress leader Shashi Tharoor, who is a three-time MP from Thiruvananthapuram, is facing a three-way contest against BJP's Rajeev Chandrasekhar and CPI-M's Panniyan Ravindran. The exit polls have predicted a tight contest.<br /><br />6. K. Annamalai: BJP Tamil Nadu chief and rising face in the south, K Annamalai, is aiming to make the party's inroads in the state. Contesting from Coimbatore, the former cop is up against DMK leader Ganapathy P Rajkumar and AIADMK's Singai Ramachandran.<br /><br />7. Rajnath Singh: Defence Minister Rajnath Singh is seeking a third term from Lucknow. The former Uttar Pradesh CM served as the Home Minister in BJP's first term and Defence Minister in the second term. Singh is facing SP candidate Ravidas Mehrotra and BSP candidate Sarwar Malik.<br /><br />8. Abhishek Banerjee: As the BJP is aiming to make further inroads in West Bengal, and TMC is looking to maintain its fortress, TMC general secretary and Chief Minister Mamata Banerjee's nephew Abhishek Banerjee is contesting from Diamond Harbour seeking a second term from the seat. Banerjee is pitted against CPI(M) candidate Pratikur Rahaman and BJP's Abhijit Das.<br /><br />9. Akhilesh Yadav: Former Uttar Pradesh CM and Samajwadi Party chief Akhilesh Yadav made a surprise entry in the Lok Sabha polls, announcing his candidature from Kannauj. Yadav, who is an MLA from Karhal assembly constituency, is facing incumbent MP and BJP leader Subrat Pathak.<br /><br />10. Asaduddin Owaisi: The Hyderabad constituency is bracing for a big showdown with four-time MP and All India Majlis-e-Ittehadul Muslimeen chief Asaduddin Owaisi facing a challenge against BJP candidate and actor-turned-politician Madhavi Latha.<br /><br />The Lok Sabha elections for 543 seats of the lower house were held across seven phases. The counting of votes will take place on Tuesday, June 4.<br /><br />The Bharatiya Janata Party is eyeing a third straight term in power, while the Opposition under the umbrella of the INDIA bloc is seeking to wrest power from the ruling party.<br /><br />Meanwhile, all the exit polls have predicted the BJP returning to power with a resounding majority, with further inroads in Odisha, West Bengal, and southern states.<br />

From Modi and Shah to Gandhi and Tharoor, here's a look at some key Lok Sabha seats ahead of election results

<ul class="summary-list"><li>The Kardashian family throws lavish <keyword id="15047" type="UNKNOWN" weightage="60" keywordseo="parties" source="Orion">parties</keyword> multiple times a year.</li><li>But a <keyword id="6355064" type="UNKNOWN" weightage="100" keywordseo="celebrity" source="Orion">celebrity</keyword> event planner told Insider the <keyword id="11939470" type="UNKNOWN" weightage="60" keywordseo="kardashians" source="Orion">Kardashians</keyword> may not spend that much on the events.</li></ul><p>Kris Jenner threw an elaborate Easter party for the extended Kardashian-Jenner family at her home on Sunday.</p><p>To those unfamiliar with the famous family, the event would seem ostensibly lavish.</p><p>Each guest's place at the table was marked with a giant chocolate Easter egg embossed with their name. A giant charcuterie board took up almost a whole table. There were gift bags filled with dozens of presents for the kids in attendance. <a href="https://www.insider.com/kylie-jenner-travis-scott-relationship-timeline-2018-7">Kylie Jenner</a> even gave her daughter and nieces personalized gumball machines in honor of the holiday.</p><p>But for the Kardashians, the event was fairly standard. They throw over-the-top parties throughout the year, whether it be for holidays or family members' birthday parties.</p><p>It's natural to assume their events would cost tens if not hundreds of thousands of dollars. Indeed, Kim Kardashian's <a href="https://www.insider.com/kim-kardashian-40th-birthday-party-private-island-cost-2020-10">40th birthday could have cost $2 million</a>.</p><p>But according to <a href="http://sjsevents.com/">Sonal J. Shah</a>, a luxury event planner, the Kardashians probably aren't paying for much of the glitz we see at their parties. Their celebrity status allows them to trade with vendors rather than pay for their parties with money, Shah said.</p><p>It benefits vendors to be seen servicing A-list celebrity events, so public relations representatives often work out exchanges with vendors to swap publicity for a service, as Shah told Insider. </p><p>For instance, the Kardashians' famous party planner, <a href="https://www.instagram.com/p/Ccd6xV6ABSW/">Mindy Weiss</a>, posted an Instagram video compilation from Kris Jenners' Easter celebration that showed off the details of the party, including the chocolate eggs and flower arrangements.</p><p>Weiss tagged multiple vendors who put the event together, letting the public know who made the eye-catching party a reality.</p><p>So whether the famous family paid them or not, the vendors will benefit financially from the publicity of being selected to put a Kardashian event together. </p><p>It might sound odd to the non-famous population, but the Kardashians frequently influence people's purchasing habits, making it a worthwhile deal for many vendors to agree to an exchange, according to Shah.</p><p>"Kim Kardashian had her 40th at the Brando and now the Brando is on the map," Shah said of the <a href="https://www.insider.com/kim-kardashian-40th-birthday-party-private-island-cost-2020-10">private island</a> where the reality star held her birthday party in 2020. "A lot of <keyword id="11897677" type="UNKNOWN" weightage="60" keywordseo="celebrities" source="Orion">celebrities</keyword> go there now. A lot of normal people started going there."</p><p>Shah estimated that stars of the same level of fame as the Kardashians could get between 50 to 100% of the costs associated with an event comped.</p><p>Vendors that have high overhead costs, like decorators or caterers, are more likely to be paid traditionally. But others, such as DJs or photographers, can easily be compensated with an exchange in the celebrity world, according to Shah.</p><p>Shah went on to say the trade practice is fairly common, but the Kardashians' massive popularity likely enables them to make deals with vendors many stars can't.</p><p>"Other celebrities don't have that kind of power," she said.</p>

A luxury event planner says the Kardashians probably aren't spending as much money as you think on their lavish parties

<p><strong><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Jonathan Bachman/Reuters</span></p><p class="caption">Pete Buttigieg</p></div><p></p></div></div></strong></p><ul><li><strong>Mayor Pete Buttigieg is one of the better Democratic candidates for financials and housing, and would be well received by markets if he won the presidential election in 2020, Cowen analyst Jaret Seiberg wrote Wednesday. </strong></li><li><strong>Buttigieg's background likely makes him "pragmatic," and he has surrounded himself with other progressive pragmatists such as Sonal Shah, his national policy adviser who previously worked at Goldman Sachs and Google. </strong></li><li><strong>Though Buttigieg hasn't shared many views on financials or housing, Seiberg highlights some he has shared. </strong></li><li><strong><a href="https://www.businessinsider.com/">Read more on Business Insider</a>.</strong></li></ul><p>If presidential hopeful Pete Buttigieg wins the Democratic nomination and the election in 2020, it would likely be "well received in the market," according to Cowen. </p><p>That's because the South Bend, Indiana, mayor is likely the most pragmatic of the leading Democratic candidates, suggesting "less radical policy swings" than if a more progressive Democrat won, Cowen analyst Jaret Seiberg wrote in a Wednesday note. </p><p>"As a mayor, his experience is solving problems rather than partisan brawling," Seiberg said. "That means the door is more open for him to be positive for financials and housing than the other Democrats running for the White House." </p><p>Seiberg does point out that little is known about Buttigieg's views on financial firms or housing, as he doesn't often address them in stump speeches and hasn't been forced to take a stand on them as members of Congress must.  </p><p>Still, Seiberg argues that Buttigieg's background has left him more pragmatic than ideological. Buttigieg is a self-proclaimed "Democratic capitalist" who studied at Harvard and Oxford and worked on economic stabilization in war-torn areas for McKinsey, according to the note.</p><p>It also appears that Buttigieg has surrounded himself with other "progressive pragmatists," Seiberg writes, including national policy adviser Sonal Shah. Her resume boasts names such as Goldman Sachs, Google, and the Beeck Center for Social Impact and Innovation at Georgetown University. </p><p>In addition, Seiberg writes that Buttigieg would be the candidate most likely to pick a Federal Reserve chairman similar to Janet Yellen, due to his experience in "dealing with restoring economies." </p><p><strong>Here are some of Buttigieg's known policy views, highlighted by Seiberg: </strong></p><ul><li style="font-weight: 400;">Buttigieg has argued that consumers should be able to sue credit card companies instead of having to use arbitration. </li><li style="font-weight: 400;">He supports a 35% corporate tax rate, but Seiberg argues there's a lower risk of the corporate tax rate actually getting that high under Buttigieg as it's been proposed to pay for his healthcare plan rather than as a separate priority. </li><li style="font-weight: 400;">He's endorsed a financial transaction tax, but suggested it would be targeted at high-frequency trading rather than traditional trading. </li><li style="font-weight: 400;">He supports a higher estate tax and top individual tax rate. </li><li style="font-weight: 400;">It appears Buttigieg "would be a positive" on housing, Seiberg writes, as he wants to create a federal program to provide down-payment assistance to help 1 million families buy homes. </li><li style="font-weight: 400;">He's discussed using various affordable-housing trust funds to finance 2 million affordable housing units, an "implicit endorsement" of Fannie Mae and Freddie Mac, Seiberg writes.</li><li style="font-weight: 400;">He hasn't said much on banking regulation, but Seiberg says it's not a significant issue because "this is not 2008 or 2012." </li><li style="font-weight: 400;">Buttigieg supports the legalization of cannabis, like most Democratic candidates.</li></ul>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/inside-the-factory-where-30-million-plastic-poppies-every-year-armistice-wwi-wwii-2018-11">Inside the factory where army veterans make 7 million poppies every year</a></h3>        <div>                    </div>    </div>

Markets would like a 'pragmatic' Buttigieg presidency, according to Cowen

<ul class="summary-list"><li>Celebrities have been throwing <keyword id="15047" type="PERSON" weightage="60" keywordseo="Parties">parties</keyword> and going on vacation during the pandemic — and posting about it on social media. </li><li>Their actions are reckless despite the precautions they take, and they put those around them, including staff who have to work their events, at risk. </li><li>Celebrities' laissez-faire attitudes about partying sets a bad example for their followers.</li><li>But posting is a form of social currency and literal income for many celebrities, so they likely won't stop sharing photos of their unsafe gatherings despite the risks they pose.</li></ul><p>Kendall Jenner turned 25 in November, celebrating with a <a href="https://www.insider.com/kendall-jenner-birthday-party-backlash-coronavirus-social-distancing-reactions-2020-11">Halloween-themed birthday party</a> somewhere in California.</p><p>It was a large-scale and celebrity-filled event. A-list stars like Justin and Hailey Bieber, Doja Cat, The Weeknd, and assorted members of the Kardashian-Jenner clan attended the birthday bash.</p><p>Many of the attendees boldly posted photos from the party on their social media, showing off their maskless faces and physical closeness.</p><p>You might forget we're in the middle of a pandemic based on how the stars ignored public health guidance.</p><h2>Celebrities have been shamelessly throwing parties during the pandemic</h2><p>Jenner isn't alone in her urge to party. Multiple celebrities have thrown lavish celebrations in recent months, even as <a href="https://www.insider.com/kendall-jenner-birthday-party-backlash-coronavirus-social-distancing-reactions-2020-11">they receive backlash</a> for their large-scale events and as the pandemic reaches <a href="https://www.businessinsider.com/us-200000-new-coronavirus-cases-2-days-50-states-rising-2020-11">a new peak in the United States</a>.</p><p>Kim Kardashian West hosted a celebratory trip that likely <a href="https://www.insider.com/kim-kardashian-40th-birthday-party-private-island-cost-2020-10">cost around $2 million</a> in honor of her 40th birthday with 30 of her closest friends just days before Jenner's party.</p><p>Likewise, Cardi B had a <a href="https://www.insider.com/cardi-b-birthday-party-coronavirus-backlash-2020-10">birthday party at the beginning of October</a>, and it seems like not a day goes by without an <a href="https://www.insider.com/why-some-influencers-cant-stop-pandemic-partying-even-after-backlash-2020-12">influencer being called out for attending or throwing an event</a>.</p><div type="image" title="kim kardashian west" height="1998" width="2664" msid="79582825" hostid="261"></div><p>Nine months into the pandemic, it's well-documented that private events are one of the most common ways the <keyword id="1754604" type="PERSON" weightage="60" keywordseo="coronavirus">coronavirus</keyword> spreads, as <a href="https://www.jhsph.edu/faculty/directory/profile/3528/amesh-adalja">Dr. Amesh Adalja</a>, a senior scholar at the Johns Hopkins University Center for Health Security, told Insider. </p><p>"In a restaurant, people are six feet apart, people are wearing masks, and there are capacity restrictions going on," he said. "None of that really applies when you're having a party in your house."  </p><p>So even though they know these events are unsafe, celebrities are having parties - and posting about them on Instagram as if the virus doesn't exist. </p><h2>The stars aren't documenting the precautions they're taking ahead of their events</h2><p>If you look at these celebrities' Instagram posts from the parties, you'll see glamour shots: Kardashian West smiling with her siblings at a dinner, or Jenner posing with a variety of her party guests in a photo booth. </p><p>You won't see them getting their temperatures taken or receiving rapid-test results before entering an event space, nor will you see shots of them quarantining for weeks ahead of seeing their friends.</p><p>But they're likely doing some of those things, Sonal Shah, a luxury event planner and the owner of <a href="https://sjsevents.com/">Sonal J. Shah Event Consultants, LLC</a>, told Insider. Shah said that temperature checks have become an industry standard since the pandemic started, and rapid tests are pretty common among wealthy party-throwers as well.</p><p>Adalja said that affordable rapid testing is being developed, but it's still relatively expensive at the moment. At the time of writing, rapid-testing stations cost a few thousand dollars to rent for an event according to Shah, which isn't much for an A-list <keyword id="6355064" type="UNKNOWN" weightage="100" keywordseo="Celebrity">celebrity</keyword>. </p><p>"Talking about the celebrity world, what is the cost of that compared to not getting COVID-19?" Shah said. "It's very nominal for them."</p><p>That was the case at Kendall Jenner's birthday party, as <a href="https://www.insider.com/kris-kendall-jenner-birthday-party-response-backlash-andy-cohen-interview-2020-11#:~:text=Kris%20Jenner%20defended%20Kendall%20Jenner's,SiriusXM's%20%22Andy%20Cohen%20Live.%22&amp;text=%22At%20Kendall's%20everyone%20got%20tested,were%20in%2C%22%20Kris%20said.aid.">Kris Jenner later told Andy Cohen</a> on his Sirius XM show.</p><p>"At Kendall's, everyone got tested before they walked in the door and they had to wait, you know, a half an hour until the testing was, the results were in," she said. </p><p>"We are really responsible and we make sure that everyone in our family and our closest friends are tested religiously," Kris also told Cohen. "So, you know, we do what we can, we, we try to follow the rules."</p><p>But Kris and her children are able to "follow the rules" because of their privilege. It isn't hard for celebrities to social distance because they have access to resources most Americans don't.</p><p>For instance, Kardashian West said she asked all her party guests to quarantine for two weeks before her island getaway. <br /><br />"After 2 weeks of multiple health screens and asking everyone to quarantine, I surprised my closest inner circle with a trip to a private island where we could pretend things were normal just for a brief moment in time," she wrote in the caption of her Instagram post about her birthday trip.</p><p>But staying home for two weeks without worrying about work, money, or food is a luxury many people can't afford.</p><p>"It's important to remember that it is a luxury," Adalja said of social distancing, pointing to people who haven't been able to stay home at all times amid the pandemic, like essential workers.</p><p>"Even though social distancing is recommended and governments impose it, it's very difficult for people who don't have high incomes to be able to do that," Adalja added.</p><h2>Although it's easy for celebrities to minimize their risks because of their resources, that isn't the case for the majority of people</h2><p>Most Americans don't have thousands of dollars to spend on a large venue that allows for social distancing or a rapid-testing station, and many also aren't able to stay home to keep their risk of the virus low on a daily basis - including the events staff working these high-profile events. </p><p>In the photos from Kendall's party, it appeared no one was wearing a mask save for people who needed them for their costumes and a member of the waitstaff who held her cake for her while she blew out the candles.</p><p>In a video of the incident, you can see him try to lean away from Jenner as she blows air into his face. </p><p>Although Kris confirmed the attendees were tested ahead of entering the event, <a href="https://www.businessinsider.com/rapid-coronavirus-tests-dont-prevent-outbreaks-white-house-2020-10">rapid tests are only 70 to 80% effective and can often produce false-negative results</a>, meaning that the waiter and every other worker at Kendall's party could have been in danger.</p><p>Representatives for Kendall did not immediately respond to Insider's request for comment on the event. </p><p>Kardashian West posted a <a href="https://www.instagram.com/p/CG2zK7WgghF/">similar photo</a> from her party, in which her loved ones ate and drank with abandon while masked waiters served the group.</p><p>Shah told Insider it's not uncommon to see event staff taking precautions while partygoers don't at the moment, as it doesn't feel fun for guests to adhere to public health guidelines while they party. </p><p>"If you're invited to someone's party, you don't want to be the only person that's wearing a mask and a face shield," Shah said.</p><p>The burden of safety then falls to staff, leading to a dystopian imbalance in which workers risk their lives to give the well-off a chance to relax. </p><h2>Meanwhile, celebrities have massive influence over their social-media followers</h2><p>Whether they intend to be or not, celebrities are often aspirational role models for their fans. </p><p>"We do tend to be influenced in terms of our attitudes and behavioral choices by role models or celebrities," T. Makana Chock, a communications professor at Syracuse University and media psychologist, told Insider.</p><p>"It can have an impact on people's beliefs about what is appropriate, what's effective, and the overall message they may be receiving," she added. </p><p>So seeing a celebrity you admire post photos of themselves wearing a mask or social distancing can reinforce for you that it's the right thing to do.</p><p>But on the flip side, if a celebrity is sending mixed messages - like posting a photo of themselves in a mask and then another where they're hugging friends at a crowded party - that can be confusing for the follower or fan. </p><p>"That can actually be really problematic because it raises concerns about the credibility of the message on the whole really," Chock said.</p><p>The celebrity would know they had taken precautions leading up to the party, but the follower would just be left with the idea that steps like social distancing and wearing a mask don't actually matter. </p><h2>But celebrities aren't going to stop posting about their parties - even if they know they're doing something wrong</h2><p>For the most part, celebrities aren't being caught throwing parties by lurking paparazzi. Instead, they're willingly posting photos of themselves doing something risky. </p><p>"There were problems pre-social media where the media would catch you doing something you shouldn't do," Chock told Insider. "But what we're seeing now is sort of a self-inflicted injury where you post photographs of yourself doing something you shouldn't do, which is a little different."</p><p>She said that celebrities are willingly sharing controversial images of themselves for a few reasons. First, it's just a norm of modern fame that you share what you're doing, particularly if you're an influencer or reality star. </p><p>"Social media has created an expectation above and beyond what used to be just gossip or celebrity gossip that you display your personal life," she added.</p><div type="image" title="kylie jenner phone selfie" height="1392" width="1856" msid="79582828" hostid="261"></div><p>Chock also pointed out that social media has come to be an important form of income for celebrities. </p><p>"There's a financial basis for this as well, particularly among social-media influencers," she said. Influencers rely on Instagram and other platforms for money, so they literally can't afford not to share photos of themselves. </p><h2>Experts are urging celebrities to think carefully about what they post</h2><p>It's unrealistic to expect famous people to stop sharing photos of themselves as the pandemic rages on in the US. But Chock urges celebrities to think carefully about the kinds of pictures they choose to share. </p><p>Adalja echoed her concerns, and he added that everyone should be thoughtful about the activities they share on social media. </p><p>"When anybody is advertising how much they're evading the factor of the pandemic, I think it's bad," he said. "And especially if it's someone that has a larger voice, it sends a dangerous message that it's OK to not think about this pandemic or that you don't need to take special actions or precautions to prevent you from spreading or acquiring the virus." </p><p>Chock advised celebrities to "think about the impact of every post, particularly as it relates to the potential risks."</p><p>At the end of the day, public shame won't be enough to stop celebrities from having ill-advised parties. But if they care for their fans at all, they'll think twice before they post a picture of a group of unmasked people with no context. It could literally save their fans' lives. </p><p>Representatives for Kris Jenner and Kim Kardashian West declined to comment when contacted by Insider for this article. Representatives for Cardi B did not immediately respond to Insider's request for comment. </p>

Celebrities are shamelessly throwing parties in the pandemic - and setting a dangerous example for the rest of us

<ul class="summary-list"><li><keyword id="6377232" type="PERSON" weightage="60" keywordseo="kim-kardashian-west">Kim Kardashian West</keyword> recently celebrated her 40th birthday with a lavish celebration.</li><li>She reportedly rented out the entire The Brando resort in Polynesia, effectively renting an entire <keyword id="392243" type="PERSON" weightage="60" keywordseo="private-island">private island</keyword>.</li><li>She took around 30 of her closest friends to the island on a private jet.</li><li>While food, drinks, and activities were likely included in the buyout, luxury event planner Sonal Shah said that clients of that caliber usually want extras that a private island cannot provide.</li><li>Shah estimated that hosting a birthday party on the island could have cost upwards of $800,000 — and that's without the private jet and resort buyout.</li></ul><p>Despite a <a href="https://www.insider.com/category/coronavirus">global pandemic</a> that has killed over 1.1 million people around the world and brought tight restrictions that discourage <a href="https://www.insider.com/category/travel">travel</a> and large social gatherings, Kim Kardashian West managed to have her 40th birthday party on a private island with around 30 of her closest friends and family.</p><p>Kardashian West has been facing backlash online for what many are describing as her "<a href="https://pagesix.com/2020/10/27/kim-kardashian-facing-backlash-for-tone-deaf-birthday-posts/">tone deaf</a>" social media posts about the getaway, but continues to flaunt the lavish escape.</p><p>"After 2 weeks of multiple health screens and asking everyone to quarantine, I surprised my closest inner circle with a trip to a private island where we could pretend things were normal just for a brief moment in time," <a href="https://www.instagram.com/kimkardashian/">she wrote on Instagram</a>, garnering ilk from the many regular people for whom a private island escape during a pandemic is a far cry from "normal."</p><h2><strong>While little about the event is confirmed, we have some idea of what took place</strong></h2><p>According to anonymous sources who spoke to both <a href="https://www.tmz.com/2020/10/27/kim-kardashian-birthday-celebration-private-island-party/">TMZ</a> and <a href="https://pagesix.com/2020/10/28/kim-kardashian-dropped-1m-on-birthday-in-tahiti/">Page Six</a>, the birthday bash reportedly included:</p><ul><li>A chartered private jet that, according to <a href="https://www.businessinsider.com/crystal-cruises-boeing-777-crystal-skye-flying-cargo-charter-flights-2020-4">previous reporting by Business Insider's Tom Pallini</a>, may have cost $50,000 per hour. </li><li>A full resort buyout that could have cost over $500,000 for five days, according to Insider's estimates.</li><li>Goodie bags including GoPros and SKIMS pajamas that may have cost around $700 per guest, according to Insider's estimates.</li></ul><p>Let's break it down.</p><h2>The full buyout of the private island resort where Kardashian West reportedly stayed would cost over $500,000 for five days</h2><div type="image" title="OneTahi motu The Brando island" height="1352" width="1800" msid="78961973" hostid="261"></div><p><a href="https://pagesix.com/2020/10/28/kim-kardashian-dropped-1m-on-birthday-in-tahiti/">According to Page Six's Emily Smith</a>, a source revealed to the publication that the celebration took place in French Polynesia, where Kardashian West rented out the entire <a href="https://thebrando.com/">The Brando resort.</a></p><p>The resort sits on the private, 193-acre island of Onetahi, in the Tetiaroa Atoll 30 miles north of Tahiti, and is named after actor Marlon Brando, who once called the island his own private escape.</p><p>Representatives of The Brando opted not to confirm whether they were, in fact, the locale of Kardashian West's 40th birthday in an email to Insider. </p><p>According to The Brando's downloadable fact sheet, a full buyout of its 35 villas costs $107,846 per night (€92,400), with a three-night minimum.</p><h2><div type="image" title="TheBrando_0922_HD©RomeoBalancourt" height="2665" width="3997" msid="78961975" hostid="261"></div></h2><p>Page Six's source claimed that Kardashian West spent five days on the island, which would rack up a cost of $539,230.</p><p>However, it should be noted that the document states that these prices are valid until March 31, 2020, though no updated numbers have been provided.</p><div type="image" title="Varua Polynesian Spa 2.JPG The Brando" height="2672" width="3563" msid="78961979" hostid="261"></div><p>Each room at The Brando has its own beach area and plunge pool. Included in the buyout price are all meals and beverages (though special dishes and drinks are available for a premium), one spa treatment per room per day, one excursion per person per day, as well as access to tennis courts, a state-of-the-art gym, toys such as kayaks, bikes, and snorkeling gear, and Wi-Fi.</p><p>Kardashian West <a href="https://www.instagram.com/p/CG2zK7WgghF/">wrote on Instagram</a>, "We danced, rode bikes, swam near whales, kayaked, watched a movie on the beach and so much more." </p><p>A source told Page Six, "Once on the island they had lavish dinner after dinner, spa treatments and hikes through the nature sanctuary. There was no expense spared."</p><p>According to what's included in the buyout, these activities would have all come in at no extra cost.</p><h2>Throwing an extravagant event on the private island could have cost upwards of $800,000</h2><div type="image" title="The Brando" height="3013" width="4012" msid="78961981" hostid="261"></div><p>While most food, drinks, and activities are included in the buyout, <a href="http://sjsevents.com">Sonal J. Shah</a>, a luxury event planner who has organized lavish events and weddings on many a private island over the course of her 18-year career, told Insider that celebrities are not quite like the rest of us, and that what's included in the resort buyout might not be up to snuff.</p><p>"We're talking very high net worth individuals that would want to do something like this," she told Insider. "Their level of what they're used to and what they would want is so far beyond the reach of a lot of normal individuals. You would think everybody was just hanging out by the pool and partying, but a lot of these people have very specific requests for alcohol, very specific requests for different things that they want that all needs to be brought in."</p><div type="image" title="Beachcomber Café 1.JPG The Brando" height="3712" width="4949" msid="78961984" hostid="261"></div><p>The main cost of planning an event on a private island is having everything flown in, according to Shah, who said that most private islands, even those with fancy resorts, have limited resources.</p><p>"To put on a party like that, everything has to be flown in," she said. "I've been to a lot of private islands, toured them for particular clients, some celebrities, some not celebrities, but typically these islands are not equipped to be able to throw a party like that — especially with higher-end clients, their food needs, their décor needs, even <keyword id="4578" type="COMPANY" weightage="60" keywordseo="entertainment">entertainment</keyword>, all those logistics, like a firework display, it's not something that's readily available on that island."</p><p>She said that planning an event like that, whether it's for 10 or 100 people, "would be an enormous undertaking," and estimates a few months of planning time, especially since it involves sourcing local vendors and flying in early to prep the event, which she said usually takes a week or so.</p><p>Shah said most resorts and private islands, even a place like the famous Necker Island, which she's been to, are great for honeymoons and vacations, but that hosting events is a whole different beast.</p><p>While she said that these resorts all have gorgeous places to stay, they usually lack the infrastructure needed for a big event, citing food, flowers, décor, lighting, music, tents in case it rains, A/C units, and staff, even special china and glassware, as things to think about and fly in. </p><p>"You're basically making a venue for a particular client," she said, and estimates, without knowing the particular details of Kardashian West's event, that her party would cost between $800,000 and $900,000 to make happen.</p><p>She added that she would charge a minimum of $80,000 to $100,000 for her event planning services, keeping in mind that she would have to go ahead of time to scope the place out — see what the transportation situation is and what security measures there are, for example — as well as be there ahead of the event to prep for it.</p><h2>The private jet charter likely cost around $900,000 round-trip</h2><div type="image" title="Crystal Exclusive Class Lie Flat Seats 1" height="2651" width="3534" msid="78961987" hostid="261"></div><p>According to that same source, Page Six reports that Kardashian West chartered a Boeing 777 for around 30 guests.</p><p>The plane in question was reportedly the Crystal Skye chartered from Crystal Cruises, and is <a href="https://www.crystalcruises.com/staticpages/aircruises-asia/en/index.html">described on its website</a> as the "world's newest and most spacious luxury jet." It features 88 lie-flat beds with 24-inch TVs and a separate restaurant and bar area.</p><p>Representatives of Crystal Cruises declined Insider's request for comment. However, <a href="https://www.businessinsider.com/crystal-cruises-boeing-777-crystal-skye-flying-cargo-charter-flights-2020-4#a-jet-of-this-size-complete-with-a-full-staff-would-typically-cost-around-50000-per-hour-to-charter-and-air-cruises-typically-went-for-159000-per-person-14">Business Insider's Thomas Pallini previously reported on this particular plane,</a> writing that "a jet of this size complete with a full staff would typically cost around $50,000 per hour to charter."</p><p>The flight time between Los Angeles and Pape'ete, French Polynesia's capital, which, <a href="https://www.flightradar24.com/data/aircraft/p4-xtl">per Flight Radar 24</a> (<a href="https://vickymochama.medium.com/how-dare-you-kim-kardashians-40th-birthday-an-investigation-766dc879eb23">h/t Vicky Mochama</a>), is a route the Crystal Skye plane recently took, is 8 hours and 40 minutes. Let's round that up to 9 hours, which brings us to a total cost of $450,000 for a one-way flight, and $900,000 round-trip.</p><h2>Kardashian West also reportedly gave guests goodie bags, which may have cost more than $700 per guest</h2><div type="image" title="skims" height="1656" width="2208" msid="78961988" hostid="261"></div><p><a href="https://www.tmz.com/2020/10/27/kim-kardashian-birthday-celebration-private-island-party/">According to TMZ</a>, Kardashian West also gave each of her guests SKIMS pajamas, KKW Beauty products, GoPros, and waterproof disposable cameras, among other goodies.</p><p>While we don't know the exact number of guests Kardashian invited, it's been reported to have been a party of between 30 and 40 guests.</p><p>Let's say there were 30 guests:</p><p>30 sets of <a href="https://skims.com/products/summer-sleep-set-heather-gray">Skims's summer sleep set</a> at $118 each = $3,540</p><p>30 sets of <a href="https://kkwbeauty.com/products/classic-ii-complete-bundle?variant=31492983554150">KKW Makeup's Classic Complete Bundle</a> at $240 each = $7,200 </p><p>30 of the <a href="https://gopro.com/en/us/shop/cameras/hero9-black/CHDHX-901-master.html">latest GoPros</a> at $349.98 each =  $10,499</p><p>30 <a href="https://www.amazon.com/Kodak-Underwater-Disposable-Excellent-Performance/dp/B005M9O1DQ/ref=asc_df_B005M9O1DQ/?tag=hyprod-20&amp;linkCode=df0&amp;hvadid=366307948963&amp;hvpos=&amp;hvnetw=g&amp;hvrand=3720943656152780847&amp;hvpone=&amp;hvptwo=&amp;hvqmt=&amp;hvdev=c&amp;hvdvcmdl=&amp;hvlocint=&amp;hvlocphy=9004564&amp;hvtargid=pla-786386271562&amp;psc=1&amp;tag=&amp;ref=&amp;adgrpid=74513439245&amp;hvpone=&amp;hvptwo=&amp;hvadid=366307948963&amp;hvpos=&amp;hvnetw=g&amp;hvrand=3720943656152780847&amp;hvqmt=&amp;hvdev=c&amp;hvdvcmdl=&amp;hvlocint=&amp;hvlocphy=9004564&amp;hvtargid=pla-78638627156243656152780847&amp;hvqmt=&amp;hvdev=c&amp;hvdvcmdl=&amp;hvlocint=&amp;hvlocphy=9004564&amp;hvtargid=pla-786386271562">waterproof disposable cameras</a> at $15.75 each = $472</p><p>This brings us to a total of $21,711 just for the goodie bags, at almost $724 per goodie bag.</p><h2>So all in all, we're at an estimated <em>minimum</em> cost of $2,340,941 for the five-day getaway</h2><p>Things were normal indeed.</p><ul class="read-more-links"><li>Read more:</li><li><a href="https://www.insider.com/photos-kim-kardashian-west-career-evolution-2019-2">How Kim Kardashian West built her $780 million empire</a></li><li><a href="https://www.insider.com/kylie-jenner-amangiri-resort-utah-photos-2020-7">Kylie Jenner is staying at a luxury desert resort frequented by celebrities, and it looks like paradise</a></li><li><a href="https://www.insider.com/kylie-jenner-paris-trip-backlash-covid-travel2020-8">Kylie Jenner faces backlash after posting pictures from Paris as critics say they're forced to stay home or can't visit loved ones abroad</a></li><li><a href="https://www.insider.com/kim-kardashian-private-island-birthday-celebration-covid-backlash-2020-10">Kim Kardashian is being roasted on Twitter after saying she rented a private island to 'pretend things were normal'</a></li></ul>

Kim Kardashian West's lavish private island birthday party may have cost over $2 million, according to resort estimates and a luxury private event planner

<ul><li>On the occasion of <keyword id="6481694" type="General" weightage="20" keywordseo="gandhi-jayanti" source="Orion">Gandhi Jayanti</keyword>, Indian brands try to reflect on Gandhiji’s values of self-discipline, perseverance and self-sufficiency and pay a tribute to the father of our nation.</li><li>This year, Edtech giant <keyword id="2900267" type="General" weightage="100" keywordseo="byju" source="Orion">BYJU</keyword>’s campaign applauds four individuals who have personified Gandhi’s ideals and brought about a change in society.</li><li>Recently appointed <keyword id="309498" type="General" weightage="20" keywordseo="vineet-singh" source="Orion">Vineet Singh</keyword>, Vice President, Brand &amp; Creative StrategyThink &amp; Learn Pvt. Ltd. (BYJU'S) takes us behind the scenes and walks us through the conceptualisation and execution process of the campaign.</li></ul>It is no secret that COVID-19 has had a severe impact on our collective mental health. We are feeling alone, overwhelmed with the spike in cases, and have been living with the constant fear that someone close to us or someone we know might succumb to the virus, for the past 1.5 years. With each passing day, it gets a little difficult to hold onto hope for a better tomorrow. If the father of the nation, Mahatma Gandhi were alive today, when we are faced with multi-layered crises such as global pandemic, climate crisis, economic recession, to name a few, he would have encouraged Indian citizens to manifest values of self-discipline, perseverance, and self-sufficiency. He would have walked with our urban migrants back to their homes, reminded us to stay united from a distance, used his mighty pen to send the message of resilience, thank doctors and environmental activists for their phenomenal work and lead the country towards the path of empathy and togetherness. <br /><br />On the occasion of <keyword id="791333" type="General" weightage="20" keywordseo="Mahatma-Gandhi-Jayanti" source="Orion">Mahatma Gandhi Jayanti</keyword>, EdTech Giant BYJU’s wanted to remind us that while the leader might not be with us today, he has taught us some invaluable lessons. Acted and voiced-over by the veteran actor Padma Shri Manoj Kumar, BYJU’S film applauds four individuals from different walks of life who have personified Gandhi’s ideals and brought about a change in society. <br /><br />The campaign celebrates Jamuna Tuddu, a Padma Shri awardee who has over the years fought the jungle mafia and given a lease of life to 100+ acre of forests; Sapan Patralekh, headmaster of a school in Jharkhand, who ensured that the learning journey for tribal kids did not suffer due to the closure of class rooms post the pandemic. He transformed village walls into colorful open classrooms; Dr Ganesh Rakh, who delivers girl child for free in his hospital; Kameshwar Wagmare, a 14-year-old kid who saved 2 of 3 kids from drowning. He received the Pradhan Mantri, Rashtriya Bal Puraskar 2021 for the courageous act. <br />    <div type="Youtube" id="gTAd5kwP8ok" title="Bapu Ki Aawaz (Celebrating The Mahatma) | (Ft. Padma Shri Manoj Kumar)" thumbUrl="https://i.ytimg.com/vi/gTAd5kwP8ok/mqdefault.jpg"></div><br />Vineet Singh, Vice President, Brand &amp; Creative StrategyThink &amp; Learn Pvt. Ltd. (BYJU'S) took us behind the scenes and walked us through the conceptualisation and execution process of the campaign. He shared, “The thought came from the fact that we really wanted to celebrate Baapu and we wanted to celebrate him with real life stories and how, while the whole world is talking about how humanity is dead, and people are not selfless anymore, we wanted to actually go out and celebrate that Baapu's belief of selflessness is still alive.” <br /><br />In a country of 138 crore people that is home to a lot of different cultures and traditions, and almost all of these cultures believe in celebrating empathy and selflessness, it was challenging for BYJU’s to find just four people who truly embody Gandhiji’s values. <br /><br />Telling us how the in-house team finalised their campaign’s protagonists, Singh said, “We wanted to cover a few facets that currently are troubling us across the country. Look at how the environment is suffering -- it's a conversation that everyone's having across the globe. Padmashree Jamuna Tuddu was an example who exists in our society and has worked towards saving 100 plus acres of forest in her region, but her message travels across the country. Then, we wanted to honor people who are doing something for the girl child. As a country, we are developing and we are getting to a place where men and women are getting equal as the day progresses, but little efforts like what Dr. Ganesh Rakh has done, is making that dream come true. After the pandemic, all schools were shut down in cities, and imagine what happened in remote Tribal Areas. So, we wanted to cover how people went out of their way there to bring alive education and Dr. Sapan was a great story. And finally, just an act of selflessness and bravery -- a 14-year -old kid jumping into the water because he saw two other young boys drowning. So, the reason why we chose these 4 people was because their stories were extremely fascinating, had a huge amount of thought and selflessness associated with it.”<br /><br />Singh recently joined BYJU’s from <keyword id="4052133" type="General" weightage="20" keywordseo="wework-india" source="Orion">WeWork India</keyword>. In his new role, he is hoping to help BYJU’s become the most loved edtech brand in India. His latest campaign with his team is just a part of many campaigns that would aim to position BYJU’s India’s most loved brand. Sharing his larger vision for the brand, he said, “The objective is to become one of the most loved brands in the country. And that's going to be the objective for this fiscal year, or the next fiscal year or any other fiscal year that we talk about until we get there.”<br /><br />CREDITS:<br /><br />Featured Stories: Dr. Sapan Kumar Patralekh, Dr. Ganesh Rakh, Padma Shri Jamuna Tudu and Kameshwar Waghmare<br />Actor: Padma Shri Manoj Kumar<br />Child Actor: Aashna Vaishnav &amp; Vidhaan Sharma<br />Concept: Hitesh Bhagia (Sr. Director – Brand &amp; Creative Strategy, BYJU’S)<br />Production: Hitesh Theodore Pereira (Principal Director - Media, BYJU’S)<br />Directed By: Sonal Batra<br />Production House: Dora Digs<br />Produced By: Akshay Shah<br />Team Dora Digs: Muskan Singhal, Vikas Malhotra, Suraj Shinde, Prathamesh Kamble,<br />Vipul Mehta, Tushar Haware, Jitendra Kumar, Rohit Tiwari, Dinesh Malvi<br />DOP: Jay Charola<br />Editor: Falgun Busa<br />Screenplay: Geet Sagar<br />Music Director: Anand Bajpai<br />Associate Producer: Sebastian Francis<br />Line Producer: Dilip Sahoo &amp; Team<br />Chief AD: Ayan Poddar &amp; Ardra Swaroop<br />DI: Yash Soni<br />

BYJU’s latest advertisement for Gandhi Jayanti aims to spread positivity and celebrate Indians who embody Gandhiji’s values

<br /> <keyword id="6361649" type="CITY" weightage="40" keywordseo="Goldman-Sachs">Goldman Sachs</keyword> has Modi-fied its view of the <keyword id="6356076" type="UNKNOWN" weightage="40" keywordseo="indian-economy">Indian economy</keyword>. <keyword id="46431" type="CITY" weightage="40" keywordseo="India-Inc">India Inc</keyword> is rubbing its hands in unabashed glee. Two weeks ago, the benchmark stock indices hit their alltime high levels. Brokerage houses are goading clients to invest lest they miss the bus.<br />
<br /> All this is based on hopes that the BJP-led NDA will emerge victorious in the 2014 polls and that <keyword id="6354477" type="PERSON" weightage="40" keywordseo="Narendra-Modi">Narendra Modi</keyword>, superlatively described by <keyword id="140092" type="POSITION" weightage="40" keywordseo="investment-banker">investment banker</keyword> CLSA as the ‘greatest hope’ for the Indian <keyword id="35199" type="UNKNOWN" weightage="40" keywordseo="stock-markets">stock markets</keyword>, will become the <keyword id="71" type="POSITION" weightage="40" keywordseo="Prime-Minister">prime minister</keyword>. The groundswell of support for the BJP in the recent state elections has reinforced these expectations.<br />
<br /> The <keyword id="6484188" type="CITY" weightage="40" keywordseo="Sensex">Sensex</keyword> surged 330 points after the state election results, unmasking the political stance of the investor community. The <keyword id="6355302" type="ORGANIZATION" weightage="40" keywordseo="Rupee">rupee</keyword> appreciated sharply against the dollar and bond yields climbed down. In its report, Goldman Sachs asserts, “The BJP and Mr Modi, in particular, have been focused on infrastructure and capital spending in the past, and a BJP-led government may be beneficial for the investment demand pick-up.” Many others concur with the assessment. This is what’s driving the markets now.<br />
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<br /> Are these expectations running ahead of the ground reality? Can the election results really make a difference to the fundamentals that drive stock prices? How should investors play the stock markets, both in the run-up to the elections and afterwards? Our cover story this week attempts to answer these questions and tell you how to handle your equity <keyword id="6362476" type="ORGANIZATION" weightage="40" keywordseo="investments">investments</keyword> in this election year.<br />
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<strong>Great expectations</strong><br />
<br /> Barely five months from now, India will elect the 16th <keyword id="6355187" type="ORGANIZATION" weightage="40" keywordseo="Lok-Sabha">Lok Sabha</keyword>. Given the backdrop of the slowdown, these elections assume greater significance. It is not surprising to hear the growing demand for a change in government. Says Chandresh Nigam, managing director and CEO, Axis Mutual Fund: “The stock markets seem to have a singular expectation for now—the formation of a stable government after the elections.” Not everyone is convinced that India’s economic problems will be cured in a new political environment. There are also voices arguing that investors are reading too much into the political developments. They say that elections do not impact the markets much, and that the outcome should not matter to a long-term equity investor. Neelkanth Mishra, India equity strategist, <keyword id="48085" type="CITY" weightage="40" keywordseo="Credit-Suisse">Credit Suisse</keyword>, argues that elections are overhyped and while the outcome is likely to drive volatility due to the expectations, it may have a limited near-term impact on the <keyword id="34412" type="ORGANIZATION" weightage="40" keywordseo="economy">economy</keyword> and corporate earnings.<br />
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	&#xa0;</div> “Even though it may seem intuitive that election outcomes drive <keyword id="35050" type="CITY" weightage="40" keywordseo="gdp">GDP</keyword> growth and market performance, our research suggests almost no correlation between the extent of government fragmentation at the Centre and economic growth during its tenure” (see table). Besides, it may be too optimistic to expect that the policy actions taken by the new government will have an immediate impact. “Our analysis of past reforms suggests that it takes 6-8 years, on an average, for any intention of the <keyword id="6357307" type="ORGANIZATION" weightage="40" keywordseo="Central-Government">Central government</keyword> to translate into jobs or meaningful economic growth,” asserts Mishra.<br />
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However, markets don’t wait for events to happen and discount them early on.<br />
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However, sentiments can carry the markets only so far. So, while the current positive mood will play a pivotal role and drive the markets in the near term, the rally will not be sustainable without the fundamentals matching the expectations. Only an improvement in the investment cycle can revive the economy. Sonal Varma and Aman Mohunta of Nomura point out, “The state elections are likely to boost sentiment, but they should not have any immediate impact on the fundamental outlook. India’s economic growth is bottoming out, but weak domestic demand amid tighter fiscal and monetary policies is likely to prevent any meaningful take-off.”<br />
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<br /> As far as the macro indicators go, the economy is still going through the motions. Even though the September quarter saw a marginal improvement in the GDP growth over the previous quarter, it is still near its 10-year low. The government has managed to control the current account deficit primarily by restricting <keyword id="18712" type="ENTERTAINMENT" weightage="40" keywordseo="Gold">gold</keyword> imports. It is expected to remain around 4% of the GDP in 2014, down from a high of 4.9% in October.<br />
<br /> The other data paints a worrying picture. Industrial production declined by 1.8% in October, as against the 2% growth registered in September. <keyword id="22195" type="COMPANY" weightage="40" keywordseo="Inflation">Inflation</keyword> continues to rage, with November data showing a disturbing 7.52% spike in the WPI along with a surge in the CPI to 11.24%. The RBI has not hiked rates this time, but if <keyword id="101998" type="UNKNOWN" weightage="40" keywordseo="high-inflation">high inflation</keyword> persists, it will be left with no option.<br />
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<br /> Another argument against fixation on a particular leadership is the historical continuity in reforms. In the past, reforms have come through irrespective of the party in power. For instance, some major economic reforms happened when the much-hated Third Front was in power (see page 16). For all its perceived shortcomings, even the incumbent <keyword id="26374" type="ORGANIZATION" weightage="40" keywordseo="UPA-government">UPA government</keyword> has pressed through some desirable reforms, such as the hike in diesel prices, as well as some key reforms in the <keyword id="6354432" type="UNKNOWN" weightage="40" keywordseo="pension">pension</keyword> and <keyword id="35450" type="COMPANY" weightage="40" keywordseo="insurance">insurance</keyword> space.<br />
<br /> Experts agree that a stable government is more important than the party that comes to power. Nandkumar Surti, managing director and CEO, <keyword id="63460" type="CITY" weightage="40" keywordseo="JP-Morgan">JP Morgan</keyword> Asset Management, says, “The importance of the election outcome, in the long run, depends solely on the type of government that comes to power. As long as we have a stable and strong government that implements reforms for economic growth, we will witness an upsurge in the economic climate of the country.”<br />
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<strong>How can expectations be derailed?</strong><br />
<br /> Even so, several factors could thwart the expectations of a sweeping change. Despite the anti-incumbency wave, which was visible in the state elections, it may not actually turn out to be a clear victory for the BJP. As Nomura points out, “State election outcomes are not always a reliable indicator of the general election prospects. Even if antiincumbency proves to be a core theme in the 2014 general election, it does not follow, of course, that the BJP would necessarily be the main beneficiary.” For instance, the newly formed <keyword id="6354944" type="ORGANIZATION" weightage="40" keywordseo="Aam-Aadmi-Party">Aam Aadmi Party</keyword> has already demonstrated its ability to take away a chunk of the anti-incumbency votes that would have otherwise gone to the BJP.<br />
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	&#xa0;</div> Also, even if the BJP secures the highest number of seats in the Lok Sabha elections, it may still have to depend on its coalition partners to form a government. A rainbow government may not be able to implement some of the controversial, but desirable, reform measures; this was the trouble that plagued the incumbent UPA no end. Dipen Shah, senior vice-president, private client group research, <keyword id="66607" type="CITY" weightage="40" keywordseo="Kotak-securities">Kotak Securities</keyword>, says, “Only a clear mandate and a stable coalition will be able to take definite steps to provide the required impetus to the economy.”<br />
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If there is a stable government after elections, it will take away a lot of uncertainty associated with the economy and support any recovery in the future. Of course, this is assuming that the ruling party will earnestly take up the cause at all. It remains to be seen whether the incoming party will have the resolve to take tough decisions, including those on diesel price decontrol, removal of subsidies, etc.<br />
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External risks could also play spoilsport. First is the threat of a downgrade of the Indian economy by global ratings agencies. S&amp;P already has a ‘negative’ long-term outlook on India, the only one of the three rating agencies with this view. It has now warned of the possibility of a further downgrade in case of a hung Parliament or failure of the incoming government to push through key reforms. This would give government bonds ‘junk’ status, which can have very serious, negative implications for the economy.<br />
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<br /> A rating downgrade would not only cause a flight of <keyword id="136566" type="UNKNOWN" weightage="40" keywordseo="foreign-capital">foreign capital</keyword> but also push up the overseas borrowing costs of Indian companies. If the present government decides to do away with its fiscal consolidation efforts in favour of more populist, welfare-oriented measures to win over voters, India may move closer to a ratings downgrade. A Uturn on the diesel price hikes, for instance, may appeal to <keyword id="1009187" type="UNKNOWN" weightage="40" keywordseo="the-middle">the middle</keyword> class, but will be frowned upon by rating agencies.<br />
<br /> The second threat is from the winding down of the <keyword id="117388" type="ORGANIZATION" weightage="40" keywordseo="US-Fed">US Fed</keyword>’s asset purchase programme. We saw how initial news of the tapering impacted the rupee between May and August this year. Now that it is official, the rupee may go through another bout of volatility. Along with these known external risks, the unknown uncertainties surrounding the domestic political developments could derail the expectations. In short, the market’s enthusiasm over the BJP coming to power may well be misplaced.<br />
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<strong>What you should do</strong><br />
<br /> Whatever the outcome, it is a given that the stock markets will be heavily influenced by political developments till the elections and afterwards as well (see graphic). We would caution investors to temper their expectations and not be carried away with the upbeat mood. As Nomura cautions, “We think that chasing the rally is not prudent, as it remains to be seen how the incumbent party will react to its poor showing in the state elections.” Investors may remain hopeful, but should avoid giving in to the euphoria. If those hopes are not realised, the market reaction may be adverse, opines Pankaj Pandey, head of research, <keyword id="46909" type="CITY" weightage="40" keywordseo="ICICI-securities">ICICI Securities</keyword>. What then should be your stock strategy?<br />
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<strong>Do not wait for election outcome</strong><br />
<br /> Some investors may be planning to stay out of the market till the elections are done with and clarity emerges. This may not be the best approach. As mentioned earlier, the markets don’t wait for events to happen. They would have already taken a course by the time the results are out. Surti insists, “The risk-reward equation is quite favourable right now and this is an opportune time for investors to start allocating to <keyword id="45369" type="CITY" weightage="40" keywordseo="equities">equities</keyword> in their portfolios.” This is not to suggest that investors should jump headlong into the markets now; they should merely take a measured exposure, instead of avoiding <keyword id="6354298" type="ORGANIZATION" weightage="40" keywordseo="stocks">stocks</keyword> altogether.<br />
<br /> As Pandey suggests, “Investors can remain light on stocks for the time being and invest in a staggered manner in the coming months.” However, be prepared for higher volatility as the markets are likely to be on tenterhooks till the results are out. Investing in equity <keyword id="6357979" type="ORGANIZATION" weightage="40" keywordseo="mutual-funds">mutual funds</keyword> through the <keyword id="35471" type="ORGANIZATION" weightage="40" keywordseo="SIP">SIP</keyword> route is the ideal way to deal with this volatility.<br />
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<strong>Gain exposure to cyclicals</strong><br />
<br /> A few stocks shot up after the state poll results (see table). It would be too early to view this as a clear trend. Most economic indicators show that there is a long way to go for a turnaround in the investment cycle. However, you should catch hold of certain investment themes that are likely to play out in the event of an economic recovery and possible pick-up in investments. Besides, it is time that investors gradually lowered their exposure to overvalued defensive stocks and started adding cyclicals to their portfolio over the coming months. Many stocks in the capital goods, banking and auto sectors are available at cheap valuations. It is now a good entry point for those looking to invest for the next 3-5 years or more. Nomura asserts, “We expect market gains to be led by high-beta domestic cyclicals (banks and industrials, mainly) and expect defensives (<keyword id="34523" type="CITY" weightage="40" keywordseo="fmcg">FMCG</keyword>, pharma, telecom and IT services) to underperform.” It believes the banking sector will benefit the most from a new regime. Shah believes, “The new government is likely to focus on boosting investments, which could help in reviving the economy. In that event, select companies in the capital goods and infrastructure segments would do well.”<br />
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<strong>Do not let go of defensives</strong><br />
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While defensive sectors are expected to underperform, don’t exit these sectors completely. Any turnaround in the economy will take some time to fructify. “We do not expect a pick-up in the investment cycle in the next two to three years,” insists Mishra. This means shifting completely in favour of economy-sensitives may not be a good strategy at this point. However, Mishra expects income growth at the bottom of the income pyramid to stay robust, which bodes well for the consumption sector. Defensives (consumer staples and pharma) and export themes (IT services) remain a good play given the struggling economy and weak currency. Shah says, “Investors should have a mix of defensives and economy-sensitives in their portfolios.” However, investors should avoid defensive stocks quoting at high valuations.<br />
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