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Analysts at Rabobank point out that on May 23rd, the Election Commission of India (ECI) announced that the Bharatiya Janata Party (BJP) led by Prime Minister Narendra Modi won the general elections in India.

Key Quotes

“India’s consistent budget deficits are expected to continue over the coming years under a BJP-led government in the second term.”

“Fiscal consolidation is needed to lower elevated debt levels as India’s weak fiscal positon is a major macroeconomic challenge.”