Source: Bloomberg
Author: SWATI GUPTA, Dan Strumpf, Shruti Srivastava
A number of voting stations export public opinion surveys have shown that Indian Prime Minister Narendra Modi's party will win overwhelming majority in the Indian election for the third time.For this fastest -growing major economy, Modi will be extended for ten years.
The polls show that among the 543 seats in the lower house of the Indian parliament, 272 seats will receive a majority of seats, while the Indian People's Party (BJP) leading the National Democratic Alliance (NDA) will winlevel.The official election results will be announced on June 4.
According to the results of the polls of the voting station, Modi announced that the Alliance led by the Indian People's Party won, saying that the previous records of the ruling party have resonated with voters, especially the poor.
"I can say full confidence that the Indian people vote for a record number to support the re -election of the national democratic alliance government," he posted on the social media platform X.
Election results may boost the Indian financial market.In recent weeks, the Indian market is turbulent, and the outside world speculates that the Indian People's Party and its allies will not be able to achieve the ambitious goal of Modi to win 400 seats.
Geojit Financial Services chief investment strategist VK Vijayakumar is expected to rise on Monday, saying that the voting station export polls have eliminated some tension around the election.
Modi's victory will have historic significance. Since the independence, it has been re -elected for three years since Javaharal Nicru, which has ruled for 17 years.
The ruling party has achieved greater victory, making it possible to promote decisive new policies and measures, and further enhance Modi's global status.This will enable the Indian People's Party to fulfill its main campaign commitments, such as increasing infrastructure expenditure, investing in domestic manufacturing, and continuing to implement popular welfare plans.This will also provide political capital to promote controversial land and labor reform.
In the fiscal year as of March, India has grown over 8%, becoming the fastest economic growth in the world.The Central Bank of India is expected to grow by 7%in this fiscal year, which is much higher than about 3%of the global economic growth rate in 2024.S & P hinted this week that Indian credit rating may be raised. This was incorporated into the JP Morgan Chase's emerging market bond market later in June, which brought boosting the financial market.
