Industry Hopes economy will pick steam post elections.
Ending the long wait by the industry, the Election Commission today announced the dates for the 16th Lok Sabha elections. India will go to polls in nine phases starting from April 7th and ending on May 12th. Chief Election Commissioner V S Sampath announced polling will take place on April 7, 9, 10, 12, 17, 24, 30, May 7 and May 12. Counting of votes is slated for May 16th
These were probably the most highly anticipated dates for industry across India — most of all, the auto industry — which is desperate to leave behind the present policy paralysis in the industrial sector. Many of the ills plaguing the Indian economy in the last couple of years are directly attributed to lack of political decision making.
The auto Industry, which has got the short end of the stick, has witnessed the worst performance in 2013, in over a decade. Poor vehicle off-take had an immediate complementary effect on the component industry as well. The industry is hopeful, that this time around, the electorate delivers a clear mandate so that similar issues do not crop up again.
On April 7, Polls will be held in two states covering six constituencies. On Day 2 (April 9), Day 3 (April 10) and Day 4 (April 12) voting will cover 7, 92 and 5 constituencies respectively. Day 5 (April 17) and Day 6 (April 24) is when the biggest chunk of voting happens, in 122 and 117 constituencies.
Voting on the seventh day of polling, April 30th, will take place in 89 constituencies (nine states) and the eighth day on May 7 will cover 64 seats in seven states. Polling will conclude on the ninth day, May 12th, with elections in 41 constituencies in three states.
