India Strategy : Maha Yuti in Maharashtra; Picture is less clear in Jharkhand by JM Financial Services Ltd
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Exit polls suggest a majority for the Maha Yuti alliance in Maharashtra with 150 seats. The picture is less clear in Jharkhand with the NDA at 39 seats and short of the majority by 2 seats. Results are expected on Nov’23, 2024.
* Exit polls suggest Maha Yuti has the majority in Maharashtra - Exit polls (based on the average of 9 polling agencies) after the single phase election in Maharashtra suggest a majority for the incumbent Maha Yuti with a majority of 150 seats. Maha Vikas Aghadi (MVA) is expected to trail at 125 seats. After a poor show in the General Elections, the Maha Yuti led by the BJP has been on the front foot with its women centric cash transfer (Ladki Bahin scheme of INR 1500/month). Concerns raised on the fiscal impact of this cash transfer (INR 460 bn), were allayed by the BJP. Although Maharashtra’s fiscal deficit is expected to improve to 2.6% of GSDP in FY25 (2.8% prior), Maha Yuti’s and MVA’s promises of increased cash transfers in the run up to elections could deteriorate the State’s fiscal situation.
* The picture is less clear in Jharkhand - In the case of Jharkhand, the picture is less clear as the elections will go down to the wire. The contest in the state is between the ruling JMM-led INDIA Alliance and the BJP-led National Democratic Alliance (NDA). Based on the average of 8 polling agencies NDA is ahead on 39 seats (while 41 seats are required to gain a clear majority). Jharkhand Mukti Morcha (JMM) is contesting on 43 seats (unchanged from 2019) while BJP is contesting on 79 seats v/s 68 in 2019.
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