New Delhi:

In a surprising turn of events, the BJP-led NDA faces an unexpected challenge from the INDIA bloc in the Lok Sabha elections, as it falls short of a majority. Despite aiming for a historic “400-paar” mandate, the NDA secures 292 seats, while the INDIA bloc clinches 234. The opposition’s resurgence in key states like Uttar Pradesh, Maharashtra, West Bengal, Rajasthan, and Karnataka significantly impacts BJP’s overall seat tally, altering the expected one-sided contest into a fiercely contested battle.

Return to Coalition Politics: With the BJP winning 240 seats, falling below the majority mark of 272, coalition politics is back on the table. The party will now depend on NDA partners like JD(U) chief Nitish Kumar and TDP supremo Chandrababu Naidu to form the government. This marks a departure from the BJP’s dominance in the 2014 and 2019 elections.

Rise of Regional Leaders: The election results highlight the significance of regional leaders in shaping the political landscape. Leaders like Nitish Kumar, Chandrababu Naidu, Mamata Banerjee, Akhilesh Yadav, MK Stalin, Uddhav Thackeray, and Sharad Pawar play pivotal roles in their respective alliances, influencing the outcome in key states.

Success of “UP ke ladke”: The alliance between SP’s Akhilesh Yadav and Congress’s Rahul Gandhi, known as “UP ke ladke,” registers a significant victory in Uttar Pradesh, securing 43 seats compared to BJP’s 34. This marks a considerable decline for the saffron party in a state known for its intricate caste politics.

Minor Change in Vote Share: Despite BJP losing seats and Congress gaining, there’s minimal difference in their vote share compared to 2019. BJP’s vote share stands at 36.5%, while Congress sees a slight increase to 21.2%.

Maha Vikas Aghadi’s Victory in Maharashtra: The Maha Vikas Aghadi, comprising Shiv Sena, Congress, and NCP, upstages the BJP-led Mahayuti alliance in Maharashtra, winning 30 out of 48 seats. This victory reflects the preference of the state’s core voters towards Uddhav Thackeray and Sharad Pawar’s leadership.

Congress’s Revival: Congress witnesses a significant revival, winning 99 seats, just one short of a century. This resurgence dispels talks of a “Congress-mukt Bharat” and boosts morale within the party, especially under the leadership of Rahul Gandhi.

Muslim-Significant Seats Favor INDIA Bloc: Out of 103 seats with a significant Muslim electorate, the INDIA bloc secures 54, while BJP-led NDA wins 44, with BJP securing only 37 seats.

Setbacks for Naidu and Naveen: In Andhra Pradesh, TDP returns to power with 132 seats, while YSR Congress faces a setback with just 15 seats. In Odisha, BJP leads with 80 seats, signaling an end to Naveen Patnaik’s 24-year rule with the BJD.

Market Turbulence: With BJP failing to secure a clear majority, the markets witness a sharp decline, with benchmark indices losing over 5%. Experts anticipate continued volatility in the near term.