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By:

Abhijit Mulye

21 August 2024 at 11:29:11 am

BJP closer to RS majority as strategic gains reshape math

Mumbai: The Bharatiya Janata Party has moved decisively closer to an outright majority in the Rajya Sabha after the latest biennial polls, a shift that political strategists say is the product of careful arithmetic, opportunistic cross voting and a sustained focus on state level strength. With the ruling party now holding 106 of the 245 seats in the Upper House, it stands 17 short of the 123 seat majority mark; yet the pattern of recent results and the calendar of forthcoming vacancies make a...

BJP closer to RS majority as strategic gains reshape math

Mumbai: The Bharatiya Janata Party has moved decisively closer to an outright majority in the Rajya Sabha after the latest biennial polls, a shift that political strategists say is the product of careful arithmetic, opportunistic cross voting and a sustained focus on state level strength. With the ruling party now holding 106 of the 245 seats in the Upper House, it stands 17 short of the 123 seat majority mark; yet the pattern of recent results and the calendar of forthcoming vacancies make a clear path to an absolute majority by 2028 increasingly plausible. The immediate momentum came from the most recent contest for 37 Rajya Sabha seats, where the ruling combine secured 22 seats against the opposition’s 15. That outcome not only added two seats beyond the BJP’s assured tally but also exposed fault lines within the opposition, where discipline lapses and strategic miscalculations allowed the ruling side to convert narrow advantages into concrete gains. Analysts point to instances of cross voting and the inability of opposition parties to present united slates as decisive factors that amplified the BJP’s returns beyond what raw assembly numbers might have predicted. In the months ahead, 35 more Rajya Sabha seats are scheduled for election, with vacancies arising in states such as Andhra Pradesh, Gujarat, Karnataka, Madhya Pradesh and Uttar Pradesh. Based on current assembly compositions, projections suggest the BJP could add roughly six seats in the near term, nudging its tally to about 112. That incremental growth, while not decisive on its own, tightens the margin and increases the leverage the party enjoys in parliamentary negotiations. Next Calendar The calendar beyond the immediate cycle further favors the ruling party. In 2027 only a handful of seats — largely from Kerala — are due to fall vacant, offering little opportunity for a major shift. The pivotal year appears to be 2028, when multiple vacancies are expected in politically consequential states. Maharashtra, where the BJP’s legislative strength allows it to elect more candidates than the number of retiring members, and Uttar Pradesh, which will see a significant tranche of 11 seats vacated, are likely to be the main battlegrounds. Given the BJP’s current foothold in both states, party strategists and observers alike regard the 2028 cycle as the most probable moment when the 17 seat deficit could be erased. Political operatives describe the BJP’s approach as a blend of long term state level investment and short term tactical manoeuvres. At the state level, the party has focused on winning assembly elections and building alliances that translate into Rajya Sabha strength. Tactically, the recent polls demonstrated an ability to exploit divisions within the opposition, whether through direct negotiations with regional leaders, leveraging dissident legislators, or capitalising on the fragmented nature of multi party contests. The result is a steady accumulation of seats that, over successive biennial cycles, compounds into a structural advantage in the Upper House. For the opposition, the challenge is two-fold: to defend regional strongholds in the upcoming state elections and to maintain internal cohesion. The Rajya Sabha’s indirect electoral mechanism means that every state assembly contest carries national significance; a swing in a single assembly can alter the Upper House calculus months later. Opposition leaders face the immediate task of shoring up their legislative numbers and preventing defections or tactical cross voting that could further erode their position.

Market Ka Kya Lagta Hai?

“Market ka kya lagta hai?” - this single question echoes everywhere - from office discussions to family WhatsApp groups. Whether the market is rising or falling or consolidating, people never stop asking: what will happen next?

But the honest truth is simple - no one really knows. There are two timeless principles that every investor must remember. 


Truth No. 1 – In the long run, markets go up

If you study the history of the stock market you will notice one consistent trend: over time, markets rise.Yes, there will be temporary corrections, global crises, or uncertainty, but these are only pauses in a long-term growth journey.


Over a period of 5, 7, 10 years, markets have always rewarded patience. The reason is simple - as businesses grow, profits expand, and the economy progresses, stock prices eventually follow.


Hence, those who stay invested for the long term always benefit. The principle is clear - time in the market is more important than timing the market. Trying to jump in and out frequently rarely works. Staying invested and disciplined does.


Truth No. 2 – In the short run, no one knows what will happen

The second truth is harder to digest. In the short term - over the next day, week, month, or year - no one can predict the market’s movement. There will be ups and downs, sudden rallies, unexpected corrections, and confusing phases. Even the best experts and algorithms cannot forecast them accurately.


Short-term volatility is not a bug - it is a feature of the stock market. In fact, this volatility is what allows Systematic Investment Plans (SIPs) to average out costs and help long-term wealth creation. Markets move on emotions - fear, greed, speculation, optimism, and panic. That is why short-term forecasts almost always fail.


So, what should investors do?

The solution is simple: keep investing regularly and stay invested. This applies across equity and hybrid mutual funds, as well as direct stocks. Do sufficient SIPs in all market conditions - rising, falling, or flat. Over time, these steady investments average out and allow compounding magic to work silently and powerfully. Along with SIPs, add periodic lumpsum investments when possible. Align everything with your long-term financial goals.


Do not waste energy predicting the next market move. Focus instead on long-term participation and discipline. Remember, time is your best fund manager.


In summary

There are only two fundamental truths about the market:-> In the long run, markets go up.-> In the short run, markets remain volatile.


Once you understand these two realities, you will stop asking “Market ka kya lagta hai?” and start asking the more important question - “Am I investing enough for my financial goals?”


That is when the market stops being a mystery and starts becoming your most powerful wealth-creating partner.

(The author is a Chartered Accountant and CFA (USA). Financial Advisor.  Views personal. He could be reached on 9833133605.)

 

 

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