The second most populous country in the world, India, went for polls last month. The exit polls indicated that the country is heading for a hung parliament and was all set for a uncertain period. The various exit polls were unanimous on this, and they differed only on the variance margin.
But the results announced few days back were totally shocking even for the winner I.e, the Congress party and its allies. The Congress party ended up gobbling up 200 seats on its own, and including its electoral allies it was way ahead of the 272 seats.
This has come as a big relief for millions of Indians and also for the scores of Foreign investors who have put their money into Indian stock market. The previous government could not take up the reforms in a big way only because it was a minority government. It depended on the left parties for passing every bill in parliament. The left parties are no where in the scene post results. This is expected to help the ruling party to push all the reforms in the next five years.
The stock markets were instantly reacting to the unexpected results, by surging up by over 20% in the first three trading sessions post the results.
India votes for a stable government for next 5 years
May - 26 - 2009 - Tuesday
