India’s Assembly Elections – Markets Cheer BJP’s Win

In assembly elections in five states, battling heavy odds, BJP secured emphatic wins in three Hindi heartland states – Rajasthan, Madhya Pradesh (MP) and Chhattisgarh. Markets cheered the BJP win reaching record highs on Monday.
Indian National Congress (INC) secured an impressive win in Telangana defeating two-term chief Minister KCR of Bharat Rashtra Samiti (BRS) – its second success in South India after Karnataka (INC – 64; BRS – 39; BJP – 8). KCR has been in power in Telangana since its creation in 2014. In Mizoram, Zoram People’s Movement (ZPM) defeated ruling Mizo National Front (MNF).
BJP expectedly won Rajasthan, a state with a tradition of rotating governments (BJP – 115; INC – 69). It wrested Chhattisgarh which looked safe for Congress (BJP-54; INC–35). BJP’s biggest win was in MP where it defied nearly two decades of incumbency to win by impressive margin (BJP – 163; INC – 66).
Sunday’s electoral outcome reinforces BJPs’ political pre-eminence ahead of 2024 elections, making Modi the frontrunner, says Times of India. BJP has strengthened its grip on Hindi heartland with Congress in power only in Himachal Pradesh. Hat-trick of wins is a guarantee of hat-trick in 2024 polls, said PM Modi.
All major parties had based their campaigns on welfare schemes. Analysts attribute BJP’s win to its robust electoral machinery, the PM’s personal popularity, and impressive outreach to women, tribals, poor and farmers. Modi also invoked national pride, India’s growing stature globally, and the civilizational past.
In Telangana, anti-incumbency, energetic campaign by Congress under President Revanth Reddy, Rahul Gandhi’s Bharat Jodo yatra (Unite India march) and spillover of Karnataka’s success may have helped Congress.
Experts say BJP’s thumping win will ensure continuation of policies ahead of the Lok Sabha (lower house of Parliament) elections six months away. BJP is likely to sharpen its welfare plank with India’s comfortable fiscal situation offering enough room to cater to diverse electoral constituents.
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Disclaimer: The article has reference to open sources including Times of India, ET & Indian Express.

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