Nomura expects Modi-led BJP govt at centre after LS election
28 Nov 2013 12:22 AM GMT
'Nomura expects a BJP-led coalition to form the next government at the Centre after the 2014 elections,' political analyst at the Japanese brokerage, Alastair Newton, said in a note dated Tuesday.
However, Newton tempered his political forecast saying 'a stable government, regardless of whether it is led by the BJP or the Congress, should support a gradual business cycle recovery.'
Nomura India chief economist Sonal Verma added, 'Once political stability has been established, we believe past investment projects cleared by the Cabinet committee of investment could be implemented. This revival will be led by a debottlenecking of existing investment projects.'
Nomura is the second multinational brokerage after Wall Street giant Goldman Sachs to come out with an open political statement supporting the candidacy of Modi for the top political job in the country.
However, Newton tempered his political forecast saying 'a stable government, regardless of whether it is led by the BJP or the Congress, should support a gradual business cycle recovery.'
Nomura India chief economist Sonal Verma added, 'Once political stability has been established, we believe past investment projects cleared by the Cabinet committee of investment could be implemented. This revival will be led by a debottlenecking of existing investment projects.'
Nomura is the second multinational brokerage after Wall Street giant Goldman Sachs to come out with an open political statement supporting the candidacy of Modi for the top political job in the country.
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