The Finance Minister also attributed NDA's defeat in Bihar to 'huge index of opposition unity'
Attributing the NDA's defeat in Bihar assembly elections to 'huge index of opposition unity', Finance Minister Arun Jaitley today said it will not impact the economic reforms process.
"I don't see it as a setback to the economy... Structural reforms will continue. They should continue at a rapid pace," he said.
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Bihar Admitting that some irresponsible statements by certain BJP functionaries during the course of elections did change the narrative, Jaitley said the "index of opposition unity" was one of the biggest factors that led to the victory of the Mahagathbandhan in the Bihar assembly elections.
While the ruling NDA managed to get 58 seats (BJP 53) in the 243-member Bihar assembly, Mahagathbandhan got 178 seats.
The alliance comprises JD(U), RJD and Congress.
On whether Bihar election was a referendum on the policies of the Centre, Jaitley, in an interview to ET Now, said, "The word referendum is loosely used... Every election is not a referendum. A state election is not a referendum. You are not contesting on one issue."
He further said that the vote share of BJP has not come down and the victory of the Mahaghatbandhan was on account of different opposition forces coming together.
About reforms, Jaitley said government would continue them by taking executive actions and also in the Budget, which would be announced in February next year.
On the specific question of the pending Goods and Services Tax (GST) bill, he hoped that Bihar, which is a consuming state, would support the legislation.
"I don't see (Bihar election outcome) as a setback to the economy at all. If under Nitish Kumar, Bihar grows and grows well, we have already announced economic package for the state, certainly we are going to help.
"Our commitment is the states which need to develop more we have to help them more," Jaitley said. Article Source: Business standard
Bihar has voted and the results are awaited. Between the last phase of polling completed on Thursday and the declaration of election results on Sunday, 8th November, is the time for exit polls to be discussed threadbare across drawing rooms, in meetings and also on social media.Most exit polls have predicted a close fight between the two formations contesting these polls but two exit polls have attracted more attention than the others and both point to contrasting results in this keenly watched contest. These are by Today’s Chanakya and by Axis.Today’s Chanakya has predicted that the NDA will win 155 seats in the 243 seat assmebly. It has predicted 83 seats for the Mahagathbandhan (Grand Alliance) of the JD(U), RJD and the Congress with Nitish Kumar as its chief ministerial candidate.
Bihar Election Result :-The agency said in its report, Bihar election is not about only Bihar as it’s a state election whose results will bring a national impact on the political environment in our country. After a decisive and huge loss in Delhi, Prime Minister Narendra Modi and Amit Shah have put their best in order to regain the winning momentum.
Along with their NDA alliance partners, BJP is leaving no stone unturned to get victory in this crucial state election which is witnessing a united opposition for the first time. On the other hand Congress have aligned up with RJD and JD(U). The grand alliance is hopeful of winning the elections. The alliance is strongly backing on the good image & hard work done by CM Nitish Kumar, it added.
The other exit poll being talked about is by Axis Poll. Social media was abuzz last evening when a much publicised poll was not broadcast by CNN-IBN. There was speculation that the poll showed a landslide victory for one of the party formations. Today, Axis Poll released the poll on its website. The poll is almost the exact opposite of what Today’s Chanakya has predicted. It has given 58-70 seats to NDA with a 36 per cent vote share while the Grand Alliance gets 169-183 seats with a 48 per cent vote share and 3-7 seats for others.
The two polls present an interesting contrast. 8 November will tell us whether one of these will hit the mark or whether both will be proven wrong.Article Source :- Business standard
