• Home
  • About Us
  • Contact US !
Incitasecurity
  • Home
  • Finance
  • Gadgets
  • Education
  • Latest Internet News
  • Technology
  • Social Media
  • Blogging
  • CrossFit
  • UpComing Car
No Result
View All Result
  • Home
  • Finance
  • Gadgets
  • Education
  • Latest Internet News
  • Technology
  • Social Media
  • Blogging
  • CrossFit
  • UpComing Car
No Result
View All Result
Incitasecurity
No Result
View All Result
Home Finance

BJP Bihar defeat unlikely to have economic implications, says Fitch Ratings

anik by anik
January 4, 2016
in Finance
0
VIEWS
Share on FacebookShare on Twitter

While the ruling NDA managed to get 58 seats (BJP 53) in the 243-member Bihar assembly, 'Mahagathbandhan' got 178 seats..

Fitch Ratings today said BJP’s defeat in the Bihar assembly elections is unlikely to have any major implications on the economic front, but could complicate politics for the government.

The rating agency said the defeat does not change its view on the medium-term economic outlook for India.

“The loss may complicate politics for the central government, but we don’t expect major implications on the economic front,”Fitch Ratings Asia-Pacific Sovereigns Director Thomas Rookmaaker said in a statement.

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.

Fitch said the election results are not likely to impact decisions by foreign investors in other states and a big win for the BJP in Bihar would not have led to sufficient support in the Rajya Sabha anytime soon anyway.

The ruling NDA does not have a majority in the Rajya Sabha where crucial reforms bills like the Goods and Services Tax (GST) and land acquisition are pending.

Rookmaaker said: “With continued opposition the government will likely continue to try and pass legislation via ad hoc political deals, and if that does not work it may continue to resort to implementation of reforms at the state level.”

It said while the opposition to some big ticket reforms, most prominently the land acquisition bill and the GST , has been substantial, the government has gradually rolled out a large number of initiatives and there is no indication it would now change course.

Fitch has a ‘BBB-‘ rating on India with a stable outlook. Earlier in the day, Finance Minister Arun Jaitley said that the defeat in Bihar elections 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,” Jaitley said.
[“source-businesstoday”]

Tags: BJP Bihar defeat unlikely to have economic implicationssays Fitch Ratings
Previous Post

Coal imports drop for fourth straight month, says coal secretary Anil Swarup

Next Post

Railways raises ticket cancellation fee by 100%: All you need to know

Next Post
Railways raises ticket cancellation fee by 100%: All you need to know

Railways raises ticket cancellation fee by 100%: All you need to know

Recent Post

  • Positive Quotes about the Future
  • The Power of DB Snatch in CrossFit: Unleash Your Strength and Agility
  • CrossFit Gym Christmas Party Ideas
  • Diane: Unleashing Strength and Stamina with CrossFit’s Intense WOD
  • 1776 CrossFit Workout: A Challenging and Patriotic Fitness Regimen
  • Curtis P CrossFit: Revolutionizing Fitness Training
  • CrossFit Granada Hills: Achieve Your Fitness Goals with High-Intensity Workouts
  • 3 Bridges CrossFit: The Ultimate Fitness Experience
  • Why Do People Hate CrossFit?
  • NEPA CrossFit Client: Transforming Lives through Fitness and Community
Incitasecurity

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.

Navigate Site

  • Home
  • About Us
  • Contact US !

Follow Us

No Result
View All Result
  • Home
  • Finance
  • Gadgets
  • Education
  • Latest Internet News
  • Technology
  • Social Media
  • Blogging
  • CrossFit
  • UpComing Car

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.