Chandrababu Naidu’s meetings with opposition leaders after the exit poll results show desperation in the non-NDA camp. If the opposition truly wanted to bring down Modi-led BJP, they should have tried harder to fight the elections together, instead of panicking and belatedly trying to stitch together a rag-tag coalition now.
Stock market surge is irrational, if not misplaced
Indian stock markets surged to record highs after exit polls predicted PM Modi’s return to power. Markets are known to be emotional, but this extreme exuberance is baffling, if not misplaced. After all, polls predicted the return of a government whose first term has little to show for economic achievement.
Why would markets be confident about the Opposition? It is not like they have a superior economic agenda to the PM.
If the exit polls are broadly correct, the opposition simply does not have the horsepower. Trade karne ke liye horses toh hone chahiyein na … CM CBN, a man with a genuine reformist / development vision, is in danger of losing his own state. Perhaps the Congress could have done more to create cohesion and unity of purpose in the opposition space.
My wife – God bless her Gujju heart – is not complaining about the nice rise in the value of her portfolio. This is the market sending a message of confidence to the new government. We believe in the India story and we believe you will now light the afterburners. Bahut baar India has missed the bus, as one nation after another to our east soars above the surly bonds of mass poverty. All Indians hope and pray that the new government will do a first rate job of helming the economy. Economists of the caliber of Dr Gita Gopinath would feel privileged to offer good advice.