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Missing municipal governance

Financial Express Kochi

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January 18, 2026

LAST WEEK, WHEN the results came for the election to the Brihanmumbai Municipal Corporation, it was the Chief Minister of Maharashtra who made it clear that he was the hero of this victory.

- TAVLEEN SINGH

Nobody saw the incongruity. Did you? Did you while watching the results stop for a moment and think that it was absurd that a chief minister should be exulting in a municipal victory? When Zohran Mamdani became Mayor of New York city, it was his victory and his alone and if he does not deliver on the promises he made, he alone will be held responsible. The buck stops with the mayor in most major cities in the world but in our colonial system of governance this does not happen. So municipal governance simply does not exist. Everything is controlled by chief ministers who have many other things to attend to.

This is the real reason why most Indian cities routinely make the annual list of the worst governed cities of the world. This is why nearly half the citizens of Mumbai live in squalid shanties that have no access to basic municipal services like clean water and electricity. As someone who has lived in Mumbai for the most part of more than 30 years, I consider myself an honorary citizen of this magnificent, chaotic behemoth of a city. But I also spend a lot of time brooding over how much more magnificent and how much less chaotic it would be if it was governed by an elected mayor instead of an autocratic, unelected Municipal Commissioner.

MÁS HISTORIAS DE Financial Express Kochi

Financial Express Kochi

Energy security, industry at core of India’s clean power push: Joshi

INDIA IS RECASTING its clean energy transition as a core industrial and manufacturing strategy, with non-fossil sources now accounting for 52% of installed power capacity and total non-fossil capacity reaching 267 GW, Union Minister for New and Renewable Energy Pralhad Joshi said at the World Economic Forum (WEF) Annual Meeting in Davos.

time to read

1 min

January 24, 2026

Financial Express Kochi

Forex reserves jump $14 bn to $701 bn on Fx swap, gold rally

FOREIGN EXCHANGE RESERVES rose to $701.36 billion as of January 16, compared with $687.19 billion a week earlier, the Reserve Bank of India (RBI) said on Friday.

time to read

1 min

January 24, 2026

Financial Express Kochi

Report gains or losses from F&O trading as business income in ITR

YOU CAN SET OFF LOSSES AGAINST INCOME FROM ANY HEAD OTHER THAN SALARIES

time to read

2 mins

January 24, 2026

Financial Express Kochi

‘Retail AUM may touch ₹1 lakh cr by March’

Jairam Sridharan, managing director and CEO of Piramal Finance, tells Kshipra Petkar in an interview that the company is targeting a sharp expansion in retail AUM, improved profitability and deeper product diversification.

time to read

1 mins

January 24, 2026

Financial Express Kochi

ICCT20 World Cup: Scotland likely to replace Bangladesh

A DESPERATE BANGLADESH Cricket Board (BCB) has written to the Dispute Resolution Committee (DRC) of ICC requesting it to overturn the governing body’s decision to hold the national men’s team’s T20 World Cup games in India but its appeal won’t be heard as it is outside the remit of the subcommittee.

time to read

1 mins

January 24, 2026

Financial Express Kochi

Rupee sinks to all-time low, reports steepest weekly fall in 6 months

THE RUPEE FELL to a record low on Friday and posted its steepest weekly decline in six months, weighed by sustained foreign outflows and hedging by importers.

time to read

1 mins

January 24, 2026

Financial Express Kochi

IPOs in Dec moderated from ’25 peak: Sebi bulletin

FUNDRAISING BY INDIAN companies through initial public offerings (IPOs) relatively moderated in December compared to the peak levels in 2025, though the number of new issuances was the highest and the issuance size was the third highest globally, a bulletin released on Friday by the Securities and Exchange Board of India (Sebi) showed.

time to read

1 min

January 24, 2026

Financial Express Kochi

States' combined fiscal deficit rose to 3% in 2024-25: RBI report

STATES' CONSOLIDATED GROSS fiscal deficit rose to 3.3% of gross domestic product (GDP) in 2024-25, after staying below 3% for the previous three years, according to a Reserve Bank of India's (RBI) annual report on state finances released on Friday.

time to read

1 min

January 24, 2026

Financial Express Kochi

Prepare orders for Nvidia chips: China to firms

CHINESE OFFICIALS HAVE told the country’s largest tech firms including Alibaba Group Holding they can prepare orders for Nvidia’s H200 AI chips, suggesting Beijing is close to formally approving imports of components essential to running artificial intelligence.

time to read

1 min

January 24, 2026

Financial Express Kochi

Tata Power secures World Bank loan for its Bhutan project

THE WORLD BANK sanctioned long-term financing of $815 million for the 1,125 MW Dorjilung Hydropower Project (DHPL) in Bhutan.

time to read

1 min

January 24, 2026

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