India's Modi facing defeat according to polls, RBI governor resigns

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  • Asian Market
  • 6 months ago
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India’s PM Narendra Modi is staring at a possible defeat in the upcoming elections, according to latest polls the three key states of Chhattisgarh, Madhya Pradesh and Rajasthan may fall into the hands of the opposition.

Regardless of his popularity many see Modi as being unable to keep his promises, especially on the issues such as jobs for the younger generation and improving its farmers conditions who have aired their disappointment, “We’ve all voted for Congress this time and our candidate is winning here.”

“BJP ignored us farmers, they ignored those of us at the bottom of the pyramid.”

Also making the situation difficult for Modi is the recent resignation of the Central Bank’s Governor, Urjit Patel which has caused the country’s currency to slump by 1.2%.

Citing personal reasons may have been the case however it has been well detailed of his unhappy relationship with the government.

All this of course can very well turn investor sentiment negative and result in the Indian economy suffering as next year's elections loom.




Source: Smart Trend Team