Sensex is resting its laurels at above 75,000 – for the first time! Investors are richer by Rs 2.27 lakh crores; and that too just before elections. It has been a pulsating ride in the last decade, having touched the 25,000 milestone 10 years back on May 16, 2014, almost dovetailing PM Modi's rise during this period. But is it for real or a manifestation of irrational exuberance? On deeper thought it is a combination of both.

The economy has been projected to do very well in FY2025. Tax collections are up and this means consumption has to be........

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