There is actually no impact of Important news and Govt. Policies Elliott Wave Theory Analysis. Even Wave's structure indicated the impact of any news well in advance if you have developed the skills to identify it. Below are two charts analysed a day before RBI rate cuts.
Chart analysis on 14 Jan 2015
Chart Analyzed on 04 March 2015 just after RBI rate cut
Deepak Kumar has explained all facts in details with real time examples and all relevant information on this article: http://sweeglu.com/effect-of-important-new-and-govt-policies-on-elliott-wave-theory-analysis/
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