Results of the state elections in Delhi could have implications for six other Indian state elections due by next year, says Rakesh Arora, head of research at Macquarie Securities. For one thing, he says that the Aam Aadmi Party, which looks set to win the Delhi election, has promised a lot of freebies to the public. If that wins them votes, there is a risk that "this kind of trend catches up with the other state governments," says Mr. Arora. That would put paid to fiscal discipline that Indian states need to be adhering to, he says. A loss in Delhi could also help strengthen the opposition parties, as the states of Bihar, Assam, West Bengal, Tamil Nadu, Kerala and Puducherry go to polls by 2016. There is the risk of "the whole opposition combining to give a tough fight" to Narendra Modi-led Bharatiya Janata Party, he says. (shefali.anand@wsj.com)
(END) Dow Jones Newswires
February 09, 2015 23:38 ET (04:38 GMT)
Description: A BJP Loss in Delhi Could Play on Other State Elections -- Market Talk
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