Election results dawns an uncertain era of coalition govt, as NDA secures modest triumph

insurance, fintech and banks\/NBFCs,” said Sanjam Arora, Partner, Trilegal. There are also industry expectations that the GST applicable on building supplies may be moderated with upcoming regulations. This would prove to be a big shot in the arm for both developers and their customers, as it will help keep property price rises in check. The ruling party is also looking into policy changes that focus on building smart cities, renewable energy infrastructure through a revamped PPP model with focus on risk-sharing & effective dispute resolution mechanism. “We expect long standing bills like the Data Protection Bill, the labor codes, etc. shall finally be brought into effect during this new term. The implementation of these acts would be a significant step towards creating a conducive business environment stimulating investment and fostering economic development. The formulation of robust policies and a stable and focused government would support the growth of MSMEs and increase FDI flows into the Indian economy,” said Payal Parikh, Managing Partner, ANB Legal Overall, it's evident that Indian businesses hold numerous expectations from the central government regarding the implementation of positive measures aimed at bolstering market sentiment. “The continuity of the NDA in power will help in implementation of the legal reforms initiated in the banking, energy, environment, defense and other sectors. However, the lack of absolute majority of a single party unlike last time is likely to impact the pace of reforms and policies. It may even lead to certain contentious reforms or policies being put on the back burner. In my opinion, the long-term growth projection continues to remain positive,” said Anand Shrivastava, Partner, Sagus Legal. <\/p><\/body>","next_sibling":[{"msid":103863151,"title":"Women now have 1\/3rd seats reserved in the world's largest democracy","entity_type":"ARTICLE","link":"\/news\/editors-desk\/women-now-have-1\/3rd-seats-reserved-in-the-worlds-largest-democracy\/103863151","link_next_mobile":"\/news\/editors-desk\/women-now-have-1\/3rd-seats-reserved-in-the-worlds-largest-democracy\/103863151?next=1","category_name":null,"category_name_seo":"editors-desk"}],"related_content":[],"seoschemas":false,"social_share":{"fb":"\/news\/editors-desk\/election-results-dawns-an-uncertain-era-of-coalition-govt-as-nda-secures-modest-triumph\/110712251?utm_source=facebook&utm_medium={{DEVICE_TYPE}}","x":"\/news\/editors-desk\/election-results-dawns-an-uncertain-era-of-coalition-govt-as-nda-secures-modest-triumph\/110712251?utm_source=twitter&utm_medium={{DEVICE_TYPE}}","whatsapp":"\/news\/editors-desk\/election-results-dawns-an-uncertain-era-of-coalition-govt-as-nda-secures-modest-triumph\/110712251?utm_source=wapp&utm_medium={{DEVICE_TYPE}}","linkdin":"\/news\/editors-desk\/election-results-dawns-an-uncertain-era-of-coalition-govt-as-nda-secures-modest-triumph\/110712251?utm_source=linkedin&utm_medium={{DEVICE_TYPE}}","telegram":"\/news\/editors-desk\/election-results-dawns-an-uncertain-era-of-coalition-govt-as-nda-secures-modest-triumph\/110712251?utm_source=telegram&utm_medium={{DEVICE_TYPE}}","copy":"\/news\/editors-desk\/election-results-dawns-an-uncertain-era-of-coalition-govt-as-nda-secures-modest-triumph\/110712251?utm_source=copy&utm_medium={{DEVICE_TYPE}}"},"msid":110712251,"entity_type":"ARTICLE","title":"Election results dawns an uncertain era of coalition govt, as NDA secures modest triumph","synopsis":"India\u2019s 2024 poll outcome today was a vote for change as the election result signals a shift towards democratic ideals, ending Modi led BJP party\u2019s majority wins in the last two consecutive elections, the third stint of NDA will not be a smooth transition as they have to rely on their alliances unflinching support. Congress led alliance INDIA is back in force with a desperate win this time, which only shows people expect basic needs to be catered to by the NDA like jobs, infrastructure- a shift of focus to people\u2019s basic needs more than foreign policy.","titleseo":"editors-desk\/election-results-dawns-an-uncertain-era-of-coalition-govt-as-nda-secures-modest-triumph","status":"ACTIVE","authors":[{"author_name":"Monica Behura","author_link":"\/author\/479259588\/monica-behura","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479259588.cms?width=250&height=250","author_additional":{"thumbsize":false,"msid":479259588,"author_name":"Monica Behura","author_seo_name":"monica-behura","designation":"Consultant","agency":false}}],"analytics":{"comments":0,"views":260,"shares":0,"engagementtimems":1176000},"Alttitle":{"minfo":""},"artag":"ETLegalWorld","artdate":"2024-06-04 23:14:32","lastupd":"2024-06-04 23:14:33","breadcrumbTags":["NDA coalition government","election results","coalition government","NDA","modest triumph","editors desk","BJP coalition government","coalition government 2024","Lok Sabha Election 2024 Result","coalition era"],"secinfo":{"seolocation":"editors-desk\/election-results-dawns-an-uncertain-era-of-coalition-govt-as-nda-secures-modest-triumph"}}" monica="" page-title="Election results dawns an uncertain era of coalition govt, as NDA secures modest triumph">

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Editors Desk
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India’s 2024 poll outcome today was a vote for change as the election result signals a shift towards democratic ideals, ending Modi led BJP party’s majority wins in the last two consecutive elections, the third stint of NDA will not be a smooth transition as they have to rely on their alliances unflinching support. Congress led alliance INDIA is back in force with a desperate win this time, which only shows people expect basic needs to be catered to by the NDA like jobs, infrastructure- a shift of focus to people’s basic needs more than foreign policy.

Monica Behura ,
ETLegalWorld

Updated On Jun 4, 2024 at 11:14 PM IST

Read by: 100 Industry Professionals

Read by 100 Industry Professionals

As the NDA led party will form the government at the center, people of the country have struck a right balance between the government and opposition in the Parliament that is best for democracy and better governance. The election results have been completely opposite from the exit poll predictions. A shocking election result for the BJP led NDA alliance, an uncertain era of coalition government has begun yet again for the BJP government that forced the country for re-elections midterm during the Vajpayee government. The general election results might have humbled Modi and the BJP, but the truth of the matter is that a nightmare might have just begun for the BJP Modi led alliance.

Advt

“Because of the high expectations, despite a decent show by the NDA, there is a negative perception which will settle down. Markets may find it difficult to bounce back now in a hurry. It seems that the economic environment shall stay muted for some time, and the capital markets and M&A activities (which have been in full bloom) may experience temporary slowdown for a while,” said Rohit Jain, Managing Partner, Singhania & Co.

Corporate’s Expectations:

The mandate of the people firmly indicates that economic reforms and stability take precedence over other issues. A stable government at the center would ensure continuity in reforms and robust policy framing. This mandate would be instrumental in bringing about swift reforms in sectors such as real estate, manufacturing, IT and infrastructure.

“Infrastructure will remain a major growth-driver, including roads, airports, real estate, renewables and green energy/decarbonization. Another key policy priority for the new government ought to be creating a conducive regulatory framework for investments in new technologies including AI and machine-learning. There are also crucial reforms in the offing for the financial services sector across insurance, fintech and banks/NBFCs,” said Sanjam Arora, Partner, Trilegal.

There are also industry expectations that the GST applicable on building supplies may be moderated with upcoming regulations. This would prove to be a big shot in the arm for both developers and their customers, as it will help keep property price rises in check. The ruling party is also looking into policy changes that focus on building smart cities, renewable energy infrastructure through a revamped PPP model with focus on risk-sharing & effective dispute resolution mechanism.

Advt

“We expect long standing bills like the Data Protection Bill, the labor codes, etc. shall finally be brought into effect during this new term. The implementation of these acts would be a significant step towards creating a conducive business environment stimulating investment and fostering economic development. The formulation of robust policies and a stable and focused government would support the growth of MSMEs and increase FDI flows into the Indian economy,” said Payal Parikh, Managing Partner, ANB Legal

Overall, it's evident that Indian businesses hold numerous expectations from the central government regarding the implementation of positive measures aimed at bolstering market sentiment.

“The continuity of the NDA in power will help in implementation of the legal reforms initiated in the banking, energy, environment, defense and other sectors. However, the lack of absolute majority of a single party unlike last time is likely to impact the pace of reforms and policies. It may even lead to certain contentious reforms or policies being put on the back burner. In my opinion, the long-term growth projection continues to remain positive,” said Anand Shrivastava, Partner, Sagus Legal.