May 24, 2024 10:37 AM IST
Christopher Wood said that PM Modi has made a huge difference to India. The change can be seen in construction of 11.10 crore household toilets, he said.
Jefferies’ Christopher Wood said that PM Modi has made more positive differences to people’s lives in the ten years he has been in power “than any other leader of a government in the world today.” In his latest GREED & fear note, Christopher Wood noted that foreign media has been trying to report that the BJP is not doing well in the elections so much so that PM Modi’s speeches are being scrutinised for language viewed as populist.
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He said, “The election is now mid-way through with two-thirds of seats already voted for. Overall voter turnout is 2ppts below the 2019 level so far with Phases 1 and 2 seeing much lower turnout of 5ppts and 3.6ppts below 2019 levels respectively. This is raising concerns that the BJP will not do as well as previously assumed.”
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But PM Modi has made a huge difference to India, he said, adding that the most basic change can be seen in the construction of 11.10 crore household toilets in rural India.
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He said, “This is why a repeat of the shock BJP defeat in 2004 remains unlikely in the extreme. At that time the Sensex corrected by 17% in the two days after the election results on May 13, 2004. In GREED & fear’s view there would be an even worse outcome in the event of a repeat of such a shock result.”
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“Still even if the BJP wins by “only” the number of seats in the last general election held in 2019 that is quite enough to run the government as the past five years have demonstrated. In the last general election in 2019 the BJP won 303 seats in the Lok Sabha, up from 282 in 2014. Remember that Modi originally set a target of 370 seats for the BJP and 400+ for the BJP-led alliance (NDA) in the current general election,” he said.
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