India: Political setback for the ruling BJP - TDS

Analysts at TD Securities point out that in India’s state elections, opposition Congress Party took control of Rajasthan, Chhattisgarh and Madhya Pradesh from Modi's ruling BJP.

Key Quotes

“Telangana Rashtra Samiti party (TRS) won in Telangana, while the Mizo National Front (MNF) is set to form a government in Mizoram, taking the state from Congress. The results suggest that PM Modi’s BJP has much to do ahead of national elections in May next year. We think at the least, the BJP may raise spending in rural areas where support is weakest.”