HOME > SOCIETY > POLITICS > Strong showing for BJP alone can’t boost Indian economy- Moody’s

Strong showing for BJP alone can’t boost Indian economy- Moody’s

A strong mandate in favor of either the Congress or the BJP would not by itself be a ‘game changer’ for India’s economy, even as surveys indicate that support for the Bharatiya Janata Party is gaining momentum, Moody’s Investor Service said.

The firm, part of the global rating agency Moody’s, said the impact of external factors on India’s growth is being underestimated.

“Expectations that the ballot box can deliver a strong, reform-minded central government, with the ability to re-ignite the country’s near-term economic fortunes have gained currency,” it said. “However, a strong showing by one of the major parties would not, by itself, translate into an immediate improvement in economic growth and fiscal consolidation; two determining factors of the country’s overall credit quality.”

It noted that the BJP has gained more and more public support since mid 2013, heightening chances of a more stable government at the center.

Moody’s also pointed out that the secular increase in the importance of regional parties “will continue to hamper the efficacy of nationwide policymaking, regardless of the political complexion of the eventual central government.”

For long a single-party system, India has seen the emergence of several regional parties such as Samajwadi Party and Telugu Desam Party that arose as an alternative to the Congress Party over the last 20 years.
bjp-congress
The BJP has seen its prospects pick up fast in the last six months after it announced Gujarat Chief Minister Narendra Modi as its Prime Ministerial candidate.

Modi, who belongs to the backward classes, has helped the BJP broaden its appeal beyond the upper castes to the backward castes, which forms the biggest chunk of Indian society.

Follow ULTRA.news
Is Rahul Gandhi rejecting his mother’s secularism? The rather 'Holy' election campaign being waged by Rahul Gandhi in Gujarat elections has led to speculation that the Indian National Congress may adopt a 'soft Hindutva' model under Rahul Gandhi to counter BJP's 'hard Hindutva'.FROM NONE TO ALLOver the last half a centur...
Ahmedabad cops deny permission to roadshow by Modi, Rahul The Ahmedabad administration has denied permission to the 'roadshows' planned by Rahul Gandhi and Prime Minister Narendra Modi in Ahmedabad tomorrow.The separate roadshows would have featured Modi and Rahul Gandhi traversing the city in a last minute effort to boost their res...
I am low-caste, but I do high work – Modi replies to Aiyer Mani Shankar Aiyar tried to undo the damage he caused to the party's prospects in Gujarat by calling Narendra Modi -- who hails from a group classified under the Other Backward Communities -- 'neech' (low or low-caste), but Modi sought to take advantage of the controversy by sei...
COLUMN: A win for Congress in Gujarat may be just what Modi needs By all accounts, the chances of a Congress victory is becoming stronger and stronger in Gujarat, a state that goes to the polls on Sunday.The possibility was almost unthinkable two months ago, even to Congress strategists, but the 'Patel factor' is likely to be the deciding ...
Uddhav Thackeray met with Sharad Pawar – report Largely along expected lines, the two warring allies within the Maharashtra government -- the BJP and the Shiv Sena -- are now reported to be wooing Sharad Pawar led Nationalist Congress Party.Shiv Sena head Uddhav Thackeray met with Pawar ten days ago, said CNN News18, and ...
“There’s no going back” says Kamal Haasan, “I’m in politics to stay... Kamal Haasan | Wikipedia Kamal Haasan today announced the launch of a new app called Mayyam or Whistle, in an attempt to organize people for a political movement, and said there was no question of turning back."If I call such a huge press meeting and I say, I am still thinki...
Kerala Love Jihad: Ashokan says he’s not anti-Muslim Akhila and Ashokan (right)Ashokan Mani, who has accused the Popular Front of India of trying to kidnap his daughter into Syria, today said he had no problems with his daughter converting to Islam or marrying a Muslim.Ashokan, who has been asked by the Supreme Court to pr...
Rahul Gandhi, Marry a Dalit girl – Ramdas Athawale Taking a jibe at Congress Vice President Rahul Gandhi's 'increasing love for Dalits', Dalit leader Ramdas Athawale said the chronic bachelor and heir to the Congress Party should now get married to a Dalit girl.Speaking at a function in Akola in Maharashtra, Athawale said Ga...
Explore autonomy for Jammu & Kashmir – P Chidambaram Former union home minister P Chidambaram today said India should 'seriously consider' giving autonomy to the state of Jammu & Kashmir.Chidambaram, who was in charge of maintaining law and order in the hill state for several years as part of his role as India's home minis...
CIA biggest beneficiary of Aadhaar, says Swamy; GST not behind slowdown BJP leader and libertarian politician Subramanian Swamy said he believes that the design of Aadhaar system exposes core data to 'American intelligence agencies' and expressed consternation that the government was continuing with the unique identification number scheme. Subraman...
Arrest warrant issued on Hardik Patel in Gujarat A non-bailable arrest warrant has been issued against Patidar Anamat Andolan Samiti leader Hardik Patel and Lalji Patel in a two-year-old case related to violence at a rally.The warrant was issued in relation to violence seen in the aftermath of a rally in Vishnagar town of ...
VENGARA Election Results: Left Front vote up 20%, Cong, BJP down The results of the bypoll held in Vengara assembly constituency in Kerala have confirmed the Congress-led UDF's worries about losing support in the southern state.The results also showed that the BJP suffered a decline in popularity in Kerala in the last 18 months or so....
BJP places gruesome banners of Kerala killings in New Delhi https://www.facebook.com/photo.php?fbid=1669117573148867&set=pcb.1336920326413229&type=3&theater&ifg=1   In an attempt to drum up public support for its fight with the Left Front in Kerala, the BJP's Delhi unit has in the heart of the national capital place...
KERALA LOVE JIHAD: Supreme Court asks why Fadiya can’t make her own decisions The Kerala 'Love Jihad' case saw a twist today with the Supreme Court making pointed observations while hearing the appeal against a decision by the Kerala High Court to annul the marriage of a Hindu girl who converted to Islam.The court observed that it will examine the que...
UP BJP spokesperson says Taj Mahal is ‘controversial’; Was a Shiv Temple Anila Singh, one of the official spokespersons of the Bharatiya Janata Party in Uttar Pradesh, today said that Taj Mahal was a controversial monument and that its roots stretched back to a temple of Shiva.Singh, who is often on TV to defend the Yogi Adityanath government, wa...
NDTV officially denies sale to Ajay Singh India's oldest English television news broadcaster NDTV officially denied that it has been sold to Ajay Singh, the promoter of SpiceJet."We wish to inform you that the promoters of the Company have not entered into any agreement for sale of their stake in the Company to any ...
Stock Exchange seeks clarification from NDTV on Ajay Singh’s stake-buy NDTV Promoter Prannoy Roy with former PM Manmohan SinghThe National Stock Exchange has again sought a clarification from NDTV after the Indian Express reported that SpiceJet promoter Ajay Singh was now the biggest shareholder in the media company.UPDATE: NDTV has denied ...
Modi should decide on Khattar’s resignation, Subramanian Swamy Haryana Chief Minister Manohar Lal Khattar seems to be facing mounting pressure to step down, with BJP leader Subramanian Swamy hinting that the CM does not enjoy total support of BJP leaders."The question of (Khattar's) resignation has to be taken up by the prime minister, ...
Liquor shops in Kerala start installing token system Kerala's snaking long queues in front of its liquor shops -- the state's only source of alcohol after bars were banned in 2014 -- are almost as famous as the backwaters and beaches, but some relief may be on the horizon for hapless liquor buyers.As there are only about 340 li...
UPDATE: 99% of demonetized currency returned to govt Eight months on, the Reserve Bank of India is yet to finish verifying and counting the 500- and 1000-rupee notes surrendered by the public between Nov 8 and Dec 30, 2016, the finance ministry said in a statement on Aug 11.UPDATE: About ten days after this article was publishe...