New Delhi (Sputnik) — Ahead of the announcement of results for the local assembly elections recently held in the five Indian states of Madhya Pradesh, Chhattisgarh, Rajasthan, Mizoram and Telangana, exit polls have predicted a tight contest between the Bharatiya Janta Party (BJP) and the Indian National Congress (INC) in all the states. If the predictions hold, it may put the brakes on the BJP’s winning streak in the state assemblies, sending jitters across the party leadership who are gearing up for the Parliamentary elections due early next year.
The stock markets, too, brace for jitters. The sensex may crash on the day of the results. ‘Go short’ will be the buzz…
India’s federal system of governance provides for the distribution of legislative powers between the assemblies in the states and the parliament at the central elections which are held separately.
The exit poll predicts a tough fight between the Congress and the ruling BJP in Madhya Pradesh, an easy win for Congress party in Rajasthan, a win for the Telangana Rashtra Samithi in the southern state of Telangana while Mizo National Front is likely to emerge as the largest party in Mizoram.
Increasing unemployment, agrarian distress, hurried implementation of demonetization of high-value currency notes and tax reforms are being underscored as the major reasons behind BJP’s downward spiral.
Sputnik talked to leaders of various political parties to gauge their reactions on the exit polls.
“Our winning margin will be more than what exit polls are predicting. People are against the Vasundhara (BJP) government for her anti-people policies. We are going to form our government in Rajasthan,” Ashok Gehlot, former Chief Minister of Rajasthan and senior Congress leader told Sputnik.
Randeep Surjewala, Spokesperson of Congress party is also very much optimistic of defeating Modi’s BJP.
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“I am confident that our party (Congress) will form the government in all the key states of Madhya Pradesh, Rajasthan, and Chhattisgarh. People are fed up with Modi’s ‘jumla’ (rhetorics). Now they want a government who can deliver. Modi has failed in all fronts. We are eagerly waiting for the results tomorrow,” Randeep Surjewala told Sputnik.
One of Modi’s ally Upendra Kushwaha has left NDA (National Democratic Alliance) led by BJP. RLSP (Rashtriya Lok Samta Party) chief Kushwaha has also resigned from Modi’s cabinet.
Meanwhile, India’s share market crashed as exit polls indicated Modi’s defeat in the state assembly elections. The largest stock exchange index BSE Sensex plunged over 550 points on Monday.