Indian Prime Minister Modi will take oath for the third time, allies pledge support | Wilnesh News

Prime Minister Narendra Modi’s National Democratic Alliance formally appointed him to lead a new coalition government for a third consecutive term on Wednesday, a day after it returned to power with a shockingly slim majority.

Modi, a populist who has dominated Indian politics since 2014, will for the first time lead a government that relies on support from regional allies whose loyalty has wavered over time, potentially complicating the new cabinet’s reform agenda.

A day after the Bharatiya Janata Party’s humiliating election results and the strong performance of the opposition “Indian” bloc, 15 of Modi’s alliance partners met at his official residence in New Delhi and appointed him as leader.

The Bharatiya Janata Party-led New Democratic Alliance won 293 seats in the 543-member Lok Sabha, surpassing the simple majority of 272 seats needed to form a government. Union of India consists of Rahul Gandhi’s The centrist Congress Party won 230 seats, exceeding expectations.

An NDA leader said Modi is scheduled to meet President Droupadi Murmu on Friday to make his case for forming a government and the swearing-in may take place over the weekend. Not authorized to speak to the media.

Local media reported earlier that the swearing-in ceremony was scheduled to take place on Saturday.

Separately, leaders of the Indian Alliance, which consists of more than two dozen political parties, also held a meeting at the residence of Congress chief Mallikarjun Haq in Delhi.

“The Indian bloc will continue to resist the fascist rule of the Modi-led Bharatiya Janata Party,” Haq told reporters after the meeting. “We will take appropriate steps at the appropriate time to fulfill the people’s desire not to be ruled by the BJP government. ”

Modi’s Bharatiya Janata Party won 240 seats alone, reducing its tally in 2019 by more than 60 seats, mostly in rural areas. Investors say possible impact on land and labor reforms They expect this will unlock value and growth.

Rating agency Fitch said: “Despite the smaller majority, we do expect broad policy continuity to continue, with the government remaining focused on driving capital spending, easing business measures and gradual fiscal consolidation.”

Elections closer than expected should increase prospects for productive reforms, The country’s chief economic adviser said Wednesday.

The newspaper said that Modi’s halo had dimmed. The Indian Express’s banner title was: “India gives NDA a third term, Modi sends a message.”

The BJP suffered heavy defeats in the two bellwether states, with its northern stronghold Uttar Pradesh having 80 seats and the western state of Maharashtra fielding 48 members in the lower house of parliament.

The Congress party alone won 99 seats across the country, almost double the 52 seats it won in 2019 – an unexpected jump expected to boost Gandhi’s standing.

Late in the campaign, Modi sought to once again appeal to India’s Hindu majority, Accuses opposition of favoring Muslim minorities.

But without a majority of its own, some of his BJP’s policies, such as common personal laws for all religions, have faced opposition from some Muslims, may be put on holdbecause Modi’s regional allies are seen as more inclusive of minorities.

Modi won in the Uttar Pradesh constituency of Varanasi, considered one of the holiest cities for Hindus, but his victory was dampened, with his margin of victory falling from nearly 500,000 votes in 2019 to just over 150,000 votes.

The results may not necessarily mean reform paralysis, Arvind Panagariya, chairman of the government’s finance panel, wrote in an Economic Times article.

“Despite a reduced parliamentary majority, the necessary reforms are entirely feasible. Accelerating continued growth will only strengthen the government in the coming years,” he wrote.