Starting with Chhattisgarh and Mizoram, five Indian states hold assembly elections, setting the stage for the 2024 Lok Sabha polls. A weak coalition government is a concern for the national economy. However, excessive promises and giveaways, or the revdi culture, may impact long-term growth and fiscal deficits, potentially affecting economic fundamentals and investment.
The benchmark NSE Nifty 50 Index has climbed in the six months leading to the vote in each of the past five elections, posting an average 16% return during the period, data compiled by Bloomberg show. Gains in the three months after the polls have averaged more than 3%.
India Business News: Morgan Stanley warns that if oil prices remain at $110 a barrel, it could destabilize India's economy and force the central bank to raise interest rat