Would you like to receive notifications on latest updates of the following headlines?

Early India Vote Count Pushes Modi Alliance In Majority

POSTED ON June 4, 2024 •   Politics      BY Benedicta Bassey
India Vote results/ Photo credit: Bdnews24.com

Indian Prime Minister, Narendra Modi's alliance was winning a majority of seats in early vote counting trends in the general election on Tuesday, but a fall is predicted in exit polls, TV channels showed.

The trends spooked financial markets which had expected a hefty win for Modi, with stocks falling steeply. 

The blue-chip NIFTY 50 (.NSEI), opens new tab was down 5.5% and the S&P BSE Sensex (.BSESN), opens new tab was down 5.3% at 0800 GMT, making the repee fell sharply against the dollar and the benchmark bond yields were up.

The markets had soared on Monday after exit polls on June 1 projected Modi and his Hindu nationalist Bharatiya Janata Party (BJP) would register a big victory, and its National Democratic Alliance (NDA) was seen getting a two-thirds majority and more.

At 0800 GMT, TV channels showed the NDA was ahead in nearly 300 of the 543 elective seats in parliament, where 272 is a simple majority. 

The opposition INDIA alliance led by Rahul Gandhi's centrist Congress party was leading in over 220 seats, higher than expected.

BJP accounted for nearly 240 of the seats in which the NDA was leading, short of a majority on its own, compared to the 303 it won in 2019.

A third Modi term with a slim majority for BJP - or having to depend on NDA allies for a majority - could introduce some uncertainty into governance as Modi has ruled with an authoritative hold over the government in the last decade.

However, politicians and analysts said it was too early to get a firm idea of the voting trends since a majority of ballots were yet to be counted.

For BJP spokesperson, Nalin Kohli  "It's a fair assessment to say 400 seats to the NDA at the moment certainly looks distant.

"But we need to wait...to have a final picture of the seats because the exit polls speak of a massive sweep, (and) the counting trends currently don't seem to match that," he said.

"The BJP-NDA will form the government, that trend is very clear from the start," he added.

The exit polls broadcast after voting ended on June 1 projected a big win for Modi, but exit polls have often got election outcomes wrong in India. 

Nearly one billion people were registered to vote, of which 642 million turned out.

However, if Modi's victory is confirmed even by a slim margin, his BJP will have triumphed in a vitriolic campaign in which parties accused each other of religious bias and of posing a threat to sections of the population.

Investors had cheered the prospects of another Modi term, expecting it to deliver further years of strong economic growth and pro-business reforms, while the anticipated two-thirds majority in parliament would allow major changes to the constitution.

AFP

Modi, 73, who first swept to power in 2014 by promising growth and change, is seeking to be only the second prime minister after India's independence leader Jawaharlal Nehru to win three straight terms.

He began his campaign by showcasing his record in office including economic growth, welfare policies, national pride, Hindu nationalism and his own personal commitment to fulfilling promises which he called "Modi's Guarantee".

READ ALSO
Lagos Leadership Turmoil: Obasa declares Miranda resignation as Lagos assembly speaker
BY Abiodun Saheed Omodara February 28, 2025 0

The former Speaker of the Lagos State House of Assembly, Mudashiru Obasa, has asserted that the curr...

READ ALSO
Keir Starmer dismisses Kemi Badenoch's claims as a 'Desperate Bid for Relevance
BY Abiodun Saheed Omodara February 27, 2025 0

UK Prime Minister Keir Starmer, on Wednesday, delivered a sharp rebuke to Tory leader Kemi Badenoch,...

READ ALSO
After 17 Years of displacement, Bakassi community challenges legislative council's authority
BY Abiodun Saheed Omodara February 26, 2025 0

The indigenous people displaced from Bakassi have turned down an invitation from the Bakassi Legisla...

READ ALSO
SCSN urges FG to address socioeconomic struggles amidst Muslim political discontent
BY Abiodun Saheed Omodara February 26, 2025 0

The Supreme Council for Shari'ah Council in Nigeria (SCSN) has voiced its disappointment regarding t...

READ ALSO
Enugu lawmaker advocates tenant protection against excessive housing fees
BY Abiodun Saheed Omodara February 26, 2025 0

ENUGU, Nigeria (NAN) - A proposed bill aimed at regulating agency and legal fees for housing has pas...

READ ALSO
NLC advise IMF, World Bank to halt aid to unaccountable governments
BY Abiodun Saheed Omodara February 25, 2025 0

The Nigeria Labour Congress (NLC) has urged the International Monetary Fund (IMF) and World Bank (WB...

READ ALSO
Tinubu advocates stronger security agency collaboration to combat crime
BY Abiodun Saheed Omodara February 25, 2025 0

President Bola Tinubu has called for enhanced collaboration among the country's security agencies to...

READ ALSO
PDP in Turmoil: Governors plot to dissolve party for El-Rufai/Obi presidential ticket
BY Abiodun Saheed Omodara February 24, 2025 0

Reports reaching Rocketparrot News suggest that five governors from the opposition People's Democrat...

OUR CHANNELS:

After 17 Years of displacement, Bakassi community challenges legislative council's authority
BY Abiodun Saheed Omodara February 27, 2025 0

The indigenous people displaced from Bakassi have turned down an invitation from the Bakassi Legisla...


Fire engulfs Ladipo auto spare parts market, Traders face billions in losses
BY Abiodun Saheed Omodara February 27, 2025 0

LAGOS,Nigeria (NAN) - Traders at the Ladipo Auto Spare Parts Market in Mushin, Lagos, experienced a...


Tinubu's call for investment sparks concerns in Belgium over future oil trade
BY Abiodun Saheed Omodara February 27, 2025 0

Belgium has expressed concerns regarding the possible loss of a significant share of its petroleum p...


SCSN urges FG to address socioeconomic struggles amidst Muslim political discontent
BY Abiodun Saheed Omodara February 26, 2025 0

The Supreme Council for Shari'ah Council in Nigeria (SCSN) has voiced its disappointment regarding t...


Abia launches education task force to boost school attendance
BY Abiodun Saheed Omodara February 26, 2025 0

ABIA,Nigeria (NAN)- The Commissioner for Basic and Secondary Education in Abia, Goodluck Ubochi, ann...


Niger allocates N300bn to transform educational sector
BY Abiodun Saheed Omodara February 26, 2025 0

MINNA, Nigeria (NAN) - The Niger government has planned to invest N300 billion in overhauling the ed...


Kuwait reaffirms commitment to educate 200,000 out-of-school children in Nigeria
BY Abiodun Saheed Omodara February 26, 2025 0

ABUJA, NIgeria (NAN) - The Kuwaiti government has reaffirmed its dedication to supporting 200,000 ou...


Anambra assembly voices concerns over Onitsha drug market closure impacting local economy
BY Abiodun Saheed Omodara February 26, 2025 0

ANAMBRA, Nigeria (NAN) - The Anambra House of Assembly has adopted a resolution urging the National...


Enugu lawmaker advocates tenant protection against excessive housing fees
BY Abiodun Saheed Omodara February 26, 2025 0

ENUGU, Nigeria (NAN) - A proposed bill aimed at regulating agency and legal fees for housing has pas...


Consumer protection agency challenges MultiChoice over unilateral price increases
BY Abiodun Saheed Omodara February 26, 2025 0

The Federal Competition and Consumer Protection Commission (FCCPC) has called on MultiChoice Nigeria...


More Articles

Load more...

Menu