Narendra Modi Will Be Next Prime Minister Of India, Exit Polls Predict

May 12 2014, 12:54pm CDT | by

The five-week long, nine-phase voting in India’s general election finally concluded on Monday recording an all-time high countrywide voter turnout of 66%. The many exit polls that released their embargoed surveys within minutes of the close of voting predicted that the Bharatiya Janata Party’s Narendra Modi is set to be India’s next prime minister.

The various exit polls project the BJP and its allies nearing or crossing the half-way mark of 272 mark in the 543-member Indian parliament. One such, the CVoter survey, foretold 290 seats for the Modi-led National Democratic Alliance (NDA) and just over a 100 seats for the ruling Congress Party-led United Progressive Alliance (UPA).

However, the world’s largest democratic exercise is considered tricky to call as many regional parties hold sway over voters in small pockets in the country. If the NDA fails to reach the magic number of 272, it may need partners from amongst strong regional bosses like Mamata Banerjee in the eastern West Bengal or Jayalalitha in the southern Tamil Nadu. Analysts however dissected the exit polls on several television channels and predicted a stable, decisive government led by Modi.

The elections have pitted the fire-breathing Modi against the ruling Congress Party’s Rahul Gandhi, scion of India’s foremost Nehru-Gandhi family which gave India three prime ministers. Through the campaign, the Congress Party attacked Modi over his controversial role in the 2002 Hindu-Muslim violence in Gujarat, a western state of which he is the chief minister currently, which led to the killing of hundreds of people, mainly Muslims (Modi has vehemently denied any involvement).

His rival Gandhi has been vapid through the weeks of electioneering, seemingly unable to rouse India’s voters to back him. The exit polls show Gandhi and his party, tainted by numerous corruption scandals and non-performance, headed to its worst showing ever and consigned to the opposition benches in parliament.

India’s stock market investors and foreign brokerages such as Goldman Sachs have backed Modi as he has sought to ignite India’s sputtering economy with promises such as “toilets not temples” and “more governance, less government”, vowing to boost employment prospects and rev up economic development.

The actual results will be known on May 16 when votes will be tallied. Should Modi cross the half-way mark, experts see him go to work to deliver on his promises to bring the economy back. In anticipation of such a move, India’s stock markets spiked to record heights even ahead of the exit polls. Investors hope that a decisive victory for Modi would revitalize the economy. On Monday, the Nifty index breached the 7,000-point mark for the first time in history. The Sensex too touched an all-time high and the rupee recorded its highest gains of the past 10 months against the U.S. Dollar.

 
 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

Bhopal fugitive Warren Anderson is dead (Roundup, Changing dateline)
Washington, Oct 31 (IANS) Warren Anderson, the former CEO of Union Carbide Corp, has died at 92 after living for 30 years under the shadow of the 1984 Bhopal gas tragedy that killed thousands.
 
 
Sit-ins delayed building powerhouses: Nawaz Sharif
Islamabad, Oct 31 (IANS) Prime Minister Nawaz Sharif Friday blamed sit-ins for delaying the construction of powerhouses in the country, as cricketer-turned-politician Imran Khan continued protesting with supporters in the capital city for over two months.
 
 
Britain to repay part of First World War debt
London, Oct 31 (IANS) British Chancellor of the Exchequer George Osborne Friday announced that the British government will pay off part of the country's First World War debt as part of the redemption of bonds stretching as far back as the 18th century.
 
 
UN-Habitat presents the first World Cities Day
Shanghai, Oct 31 (IANS/EFE) The UN Human Settlements Programme (UN-Habitat), headed by former Barcelona mayor Joan Clos, Friday launched its first World Cities Day in China, to be held every Oct 31 to promote sustainable development.
 
 
 

Latest from the Network

Arnold Schwarzenegger 'knew' he'd star in another Terminator movie
Arnold Schwarzenegger ''always knew'' he'd star in another 'Terminator' movie. The 67-year-old actor - the former governor of California - insists he wasn't surprised when he got a call from producers to appear in the...
Read more on Movie Balla
 
Anne Hathaway would 'love' a sequel to The Devil Wears Prada
Anne Hathaway would ''love'' to appear in a sequel to 'The Devil Wears Prada'. The Oscar-winning actress starred in the popular 2006 comedy-drama, which also featured Meryl Streep and Emily Blunt, and has revealed she...
Read more on Movie Balla
 
Lily Aldridge wearing mother's Playboy costume for Halloween
Lily Aldridge will wear her mother's old Playboy costume for Halloween. The 28-year-old model - who is married to Kings of Leon singer Caleb Followill - found her mum Laura Lyons' raunchy Playboy Bunny flight attendant...
Read more on Celebrity Balla
 
Rochelle Humes' daughter loves Marvin doll
Rochelle Humes is embarrassed by her daughter's obsession with a doll of her husband, Marvin Humes. The 25-year-old singer has admitted she found it ''cringey'' when she was recently photographed holding a doll of her...
Read more on Celebrity Balla
 
Keira Knightley annoyed Chloe Moretz didn't ask her advice
Keira Knightley was annoyed Chloe Grace Moretz didn't want her advice. The 29-year-old actress - who appears alongside the 17-year-old star in her latest movie 'Say When' - was disappointed that the young actress didn'...
Read more on Celebrity Balla
 
Daniel Radcliffe loses everything
Daniel Radcliffe loses everything. The 'Horns' star admits he constantly has to replace his mobile phone and often puts things away and can't ever find them again. The 25-year-old actor said: ''I lose things a lot. At...
Read more on Celebrity Balla
 
Apple Outsmarts Samsung in Terms of Revenue Generation
Samsung can sell more products, but it doesn’t mean that it will earn more profit, as Apple overtakes the Korean giant with respect to the earnings.According to the Cult of Mac, Samsung earned a profit of $3.8 billion...
Read more on Apple Balla
 
Apple Declares Not to Remove PCalc iOS Calculator Widget
The PCalc iOs calculator widget is free from the risk of being removed, as Apple decides not to drop it from the App Store.According to Tech Crunch, the officials of Apple have confirmed about the move, stating that it...
Read more on Apple Balla
 
Seth Rogen to Act as Steve Wozniak in the Steve Jobs’ Movie
Seth Rogen has got an important role in the biopic of the late Apple co-founder Steve Jobs, as he has been selected to play as Steve Wozniak.According to the Variety, Rogen will be advised directly by Steve Wozniak, the...
Read more on Apple Balla
 
Ponzy schemer cheats residents of $22 mn, gets 15-year jail
Washington, Oct 31 (IANS) If you have been one of those approached by some 'known' person for investing in something with an assurance of 'easy money', you may benefit reading about this Ponzi schemer jailed in the US...
Read more on Politics Balla