KUALA LUMPUR: The FBM KLCI is rallying again as it takes its cue from Wall Street, which was buoyed overnight by a weak US labour report that heightened hopes of a rate cut in September.
Prime Minister Narendra Modi with leaders of the National Democratic Alliance and his own party, at his residence in New Delhi on June 5. - Photo: BJP
“We all unanimously choose respected NDA leader Narendra Modi as our leader,” a BJP-issued alliance statement said on June 5. Ahead of the meeting, Modi – as part of the procedural formality for government formation – tendered his resignation, along with those of his Cabinet colleagues, to President Murmu, who asked him to carry on as caretaker in the interim, her office said on June 5.
In the Lok Sabha, 272 is the overall majority for a party to form the government on its own. The BJP had aimed to win 370 seats in this election. Negotiations going forward with the key allies will centre on who gets which Cabinet berths in return for their support, possibly financial perks or benefits for their states, upon which their political power is based.
Modi would have to build a working relationship with the opposition too for the smooth running of parliamentary sessions, the analysts noted.
Modi BJP Form Government Elections Coalition Government
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