PM Modi Tenders Resignation to President Murmu
NEW DELHI: Prime Minister Narendra Modi, along with his Council of Ministers, submitted his resignation to President Droupadi Murmu on Wednesday, as stated in a communique from Rashtrapati Bhavan.
President Murmu accepted the resignation and requested that Modi continue in his role until the new government is established, according to the communique.
Prior to his resignation, Modi chaired a Union Cabinet meeting, where the dissolution of the 17th Lok Sabha, set to end on June 16, was recommended. Sources familiar with the matter indicated that the meeting also reviewed the Lok Sabha election results and discussed potential government formation.
Election results announced on Tuesday revealed that the Bharatiya Janata Party (BJP) secured 240 seats, a decrease of 63 seats from their previous tally of 303. Although the BJP did not achieve a simple majority of 272 seats in the 543-member Lok Sabha, the BJP-led National Democratic Alliance (NDA) achieved a clear third term with 293 seats.
The opposition INDIA alliance garnered 233 seats, with the Indian National Congress significantly increasing its representation to 99 seats.
In the 2019 elections, the NDA had won 353 seats, while the Congress-led United Progressive Alliance secured 91 seats.
Moody’s rating agency commented on Wednesday that the NDA’s victory in the recent Indian general election would ensure policy continuity. However, Moody’s noted that the reduced margin of victory and the lack of an outright majority in Parliament might delay comprehensive economic and fiscal reforms, potentially hindering progress on fiscal consolidation.
