In a significant political development, Prime Minister Narendra Modi and his Council of Ministers submitted their resignations to President Droupadi Murmu on Wednesday. The President subsequently accepted the resignations and requested the government to continue its functions until a new government is formed.
This move follows the conclusion of the recently held Lok Sabha elections, where the Bharatiya Janata Party (BJP) emerged as the largest party but with a reduced majority. The BJP secured 240 seats, down from 303 in the previous elections. However, the BJP-led National Democratic Alliance (NDA) crossed the halfway mark with 293 seats, ensuring a third term for the coalition.
Notably, the opposition alliance led by the Indian National Congress made substantial gains, winning 233 seats and nearly doubling its presence in Parliament. The Congress-led United Progressive Alliance (UPA) had secured only 91 seats in the 2019 elections.
Prior to submitting his resignation, Prime Minister Modi chaired a meeting of the Union Cabinet, where the dissolution of the 17th Lok Sabha was recommended. The Cabinet also reviewed the election results and discussed potential government formation.
Meanwhile, a leading rating agency has commented on the NDA’s victory, highlighting the potential for policy continuity. However, it also noted the reduced majority in Parliament and suggested that further economic and fiscal reforms may be delayed, potentially impacting fiscal consolidation efforts.
This political transition marks a significant chapter in Indian politics and will be closely watched both domestically and internationally.
