Very true Hiteshji. But there are many caveats in your observation. The biggest is the temptation of Parties to switch to Freebies after such poor results. We are sure that alliance politics will prevent Modi 3.0 to go for big ticket reforms. That is the biggest casualty which will not be liked by FIIs.
Second factor will be more socialistic trends, which in India is linked to subsidies. With strident opposition views, the Govt will be under pressure to spend more on subsidies, which will affect other expenditures and it may affect infrastructure spending.
Biggest factor will be instability factor which is not liked by Mr Market. And both CB Naidu and Nitish Kumar are famous (or notorious) for extracting their pound of flesh.
And last but not the least, Modiji may not like to lead a lame duck Govt and may opt out very soon.
These are my thoughts and only time will tell how things pan out.
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