Results of the Assembly election imply that no policy shift towards populism will take place; stated Nomura

Nomura makes some key statements after the declaration of the Assembly Election results; get the details…

Tuesday, 4th May 2021

The election results of the elections that have recently drawn to a close in the four states and a Union Territory of the country indicate that no policy shift towards the populist measures will take place, Broking Company Nomura stated.

Despite the loss of BJP in the three states, namely, Tamil Nadu, Kerala and West Bengal — in general and on the whole, the election results are likely to allow the party-in-power, the National Democratic Alliance (NDA) to boost its seat count in the Rajya Sabha, stated Nomura in its report on this Monday.

While this is still likely to be below a simple and un-complex majority of about 123 seats in the Parliament’s Upper House, it didn’t indicate any major change as the in-power political alliance had set up working relationships with the non-allied political parties in the recent legislatures, thereby providing it with the requisite number of seats in order to pass the legislative bills, it stated.

“Overall, we do not see any major economic implication from the state election results,” Economists from Nomura, Aurodeep Nandi and Sonal Varma stated in their report.

Also Read: Karnataka by-polls: BJP party wins from Belagavi and Basavakalyan; Congress Party wins from Maski?

The loss of BJP in the most hotly contested and talked about Assembly Elections of West Bengal can be looked upon as a kind of referendum pertaining to the government’s mal-handling of the covid pandemic’ds second wave spreading all through the country like raging fire, even though the elections in the state are affected to a large extent by several local factors too, stated the report.

The All India Trinamool Congress (AITC) led by Mamata Banerjee emerged victorious in the 213 seats in West Bengal's legislature while just 148 seats are needed to form a simple majority. The tally of BJP in the state stood at a meager 77 seats when compared to TMC’s 213 seats.

In the state of Kerala, the Left Democratic Front alliance was successful in retaining its power under the leadership of Pinarayi Vijayan with the support of about 97 seats in the state while the BJP went without a single seat in its favor.

The News Talkie Bureau

Source:

Economictimes Indiatimes