Bharatiya Janata Party (BJP) is likely to retain power in the 2024 Lok Sabha elections as per Fitch Ratings, an American credit ratings agency. American agency said there is likely of policy continuity to be maintain in India as the incumbent administration is “most likely” to retain power in the general elections due in April-May 2024.
The size of the majority in the next Lok Sabha elections could influence the ambitiousness of the administration’s reform agenda, agency said.
As per Fitch Ratings :
"We believe it most likely that incumbent administrations will retain power in India (BBB-/stable) and Bangladesh (BB-/negative), during their general elections in April-May and January, respectively, pointing to the likelihood of broad policy continuity,".
Narendra Modi-led BJP government had came to power in 2014 and came back with a majority in 2019 general elections as well.
The 2024 general elections are due in April-May 2024 and Fitch Ratings expects the Narendra Modi government to come back to power for the 3rd time.
Fitch Ratings agency said almost half of its rated portfolio in the Asian region will hold legislative or presidential elections in 2024.
Fitch Ratings agency said it expects continuity to be the main theme of the elections among its rated Asian sovereigns due in 2024.
RRD’s Opinion
As the chance of election outcomes influencing credit profiles as being higher in Pakistan and Sri Lanka, which are both dependent on successful IMF programme implementation and official support given potential geopolitical implications.
Rahul Ram Dwivedi (RRD) is a senior journalist in 2YoDoINDIA.
NOTE : Views expressed are personal.
