Indian General Elections 2014
May 22, 2014 13:04:47 GMT
Post by anshjain97 on May 22, 2014 13:04:47 GMT
The Indian General Elections (called Lok Sabha elections, Lok Sabha is the lower house of parliament) which started on Apr 7 culminated with the counting on May 16. The greatest event for the world's largest democracy indeed interests people- voter turnout was generally high.
This election was unique in several ways. The Indian National Congress, or just Congress, ruling in a coalition for the past 10 years, was defeated in a landslide victory for the key opposition leader of the Indian People's Party, Narendra Modi, who is the new prime minister.
This election is the first in 40 years where a single party alone has won a simple majority.
The markets support Modi, as the victory resulted in a sudden appreciation of the rupee against the USD.
It's a real turning point because Narendra Modi, while relatively non-corrupt, is generally feared by Muslims as there was a huge riot in the state he ruled in 2002 which targeted Muslims. He is said by some to have abetted the riots, and by some to have not done enough to stop it, although the apex court gave him a clean chit (which some claim is because a lot of evidence was destroyed).
There was a lot of anti-incumbency sentiment due to Congress's term ending with stubbornly high inflation, weaker economic growth and job creation, as well as rampant corruption. The prime minister moving out, Manmohan Singh, is a puppet of the chief of the Congress party. However Singh as finance minister initiated economic reforms in 1991 which brought in globalisation and faster, long-lasting growth.
The next 5 years are going to be a wild ride ahead!
timesofindia.indiatimes.com/home/lok-sabha-elections-2014/news/Narendra-Modi-elected-BJP-parliamentary-party-leader/articleshow/35376772.cms
This election was unique in several ways. The Indian National Congress, or just Congress, ruling in a coalition for the past 10 years, was defeated in a landslide victory for the key opposition leader of the Indian People's Party, Narendra Modi, who is the new prime minister.
This election is the first in 40 years where a single party alone has won a simple majority.
The markets support Modi, as the victory resulted in a sudden appreciation of the rupee against the USD.
It's a real turning point because Narendra Modi, while relatively non-corrupt, is generally feared by Muslims as there was a huge riot in the state he ruled in 2002 which targeted Muslims. He is said by some to have abetted the riots, and by some to have not done enough to stop it, although the apex court gave him a clean chit (which some claim is because a lot of evidence was destroyed).
There was a lot of anti-incumbency sentiment due to Congress's term ending with stubbornly high inflation, weaker economic growth and job creation, as well as rampant corruption. The prime minister moving out, Manmohan Singh, is a puppet of the chief of the Congress party. However Singh as finance minister initiated economic reforms in 1991 which brought in globalisation and faster, long-lasting growth.
The next 5 years are going to be a wild ride ahead!
timesofindia.indiatimes.com/home/lok-sabha-elections-2014/news/Narendra-Modi-elected-BJP-parliamentary-party-leader/articleshow/35376772.cms
