Polls indicate Indian prime minister’s popularity remains high despite inflation, joblessness and Covid-19
A cardboard cut-out of Narendra Modi, India's Prime Minister, outside the Bharatiya Janata Party office in Lucknow, Uttar Pradesh, India. Picture: BLOOMBERG/RUHANI KAUR
According to at least eight exit polls, Modi’s Bharatiya Janata Party will win a majority in the 403-seat assembly in the northern Uttar Pradesh state after the last round of voting ended on Monday. But the BJP’s victory margin is expected to be tighter than it was five years ago when it won nearly 80% of the seats.
“A majority is still a majority no matter if it is diminished, and shows that despite high inflation and a recovering economy, the BJP and Modi are still quite strong,” said Akhil Bery, director of South Asia Initiatives at the Asia Society Policy Institute. “For the opposition, it seems as though they still have not been able to settle on an effective message to dethrone the BJP, despite a number of factors seemingly going in their favour.
“While markets will find comfort in the results and resultant political and legislative stability, the grim macro outlook may limit any euphoria,” said analysts led by Sanjeev Prasad at Kotak Institutional Equities.