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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (4195)	5/4/1999 8:08:00 AM
From: Mohan Marette	Respond to of 12475

India to Hold Mid-term Election in September and October Bloomberg News May 4, 1999, 4:04 a.m. PT India to Hold Mid-term Election in September and October New Delhi, May 4 (Bloomberg) -- India will hold a mid-term poll in September and October to elect a new government after its 13-month old Bharatiya Janata Party-led coalition collapsed on April 17. The exact election dates will be announced later, said the chief election commissioner, who heads the election commission, which conducts the poll. Business executives had hoped for the election to be held early as investment decisions and reforms will be delayed until a new government is in place. However, election commission officials said they need more time to prepare the 800,000 polling stations and 4.5 million people to man and protect them for India's 600 million voters. ''The issue is not just one of choosing a (good) weather period or wanting a duly elected government at an early date,'' said Chief Election Commissioner M.S. Gill. ''Elections have to be held efficient, peaceful and transparent manner to the satisfaction of the Indian people.'' President K.R. Narayanan said April 26 that the mid-term election has to be held, after no party could form an alternative government. The political instability has hurt the country's economy.The gross domestic product slowed to a gain of 5.8 percent in the year ending March, 1999, against an average 6.8 percent growth in the previous three years. Profits rose at less than 3 percent for nearly 500 of India's top companies, as a depressed demand hurt sales. news.com