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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
INDIA
Indian Prime Minister Narendra Modi has pledged an additional USD15bn for infrastructure spending ahead of the general election expected to take place this spring. Reuters reports that "Modi's spending projects come days before the election announcement, after which he will not be not be allowed to try to pull in voters with big schemes."
- Jauran Ramesh, a lawmaker from the opposition big tent Indian National Congress posted on social media that, "Almost all the projects that he is inaugurating are either completions or expansions of projects that were in place before he became the prime minister," going on to call the PM a "conjurer of lies".
- Opinion polling and seat projections show that despite the INC joining together with other opposition parties in the 'Indian National Development Inclusia Alliance' or I.N.D.I.A, Modi's Hindu nationalist Bharatiya Janata Party (BJP) and its allies in the National Democratic Alliance (NDA) are on course to secure a third successive majority in the Lok Sabha by a comfortable margin.
- Should the NDA outperform expectations and win 400+ out of the 543 seats it would secure a 'supermajority'. This would be the first step towards the Modi gov't having the power to amend the constitution without relying on opposition support. In order to do so, though, supermajorities are needed in both houses of parliament, and the backing of over half the nation's regional assemblies.
Chart 1. Opinion Polling Seat Projections
Source: India Today-CVoter, Zee News-Matrize, Times Now-ETG, ABP-CVoter, India TV-CNX, MNI. N.b. May 19 = 2019 general election results.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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