Indian voters have handed Narendra Modi their most decisive mandate in 30 years. The opposition politician's landslide win ends a tortuous era of coalition politics that has stymied policymaking. It also offers India a way out of its current limbo.
Though all the votes have not been counted, Modi's Bharatiya Janata Party (BJP) is on track to capture a few more seats than the 272 it needs for a simple majority in the lower house of parliament. No single party has managed to do that since 1984, when Rajiv Gandhi won a landslide victory following his mother Indira's assassination. The BJP-led coalition's tally will likely cross 325.
Investors, who pushed up Indian stocks more than one per cent on the news, have reason to cheer. The scale of the pro-business politician's victory, predicted by only one exit poll of seven, removes any doubts about the stability of the government. It is highly likely to last its full five-year term. Knowing this, it is extremely improbable that Modi will let pesky coalition partners undermine major policy decisions.
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Legislative change remains a challenge, though. Modi's party won't control the upper house. Crucial bills, such as one that could pave the way for a much-needed nationwide goods and services tax, will require the new prime minister to work with opposition parties. But it's far from clear that Sonia Gandhi's Congress Party, nursing its worst-ever electoral defeat, will be keen to let Modi score too many parliamentary successes.
A big mandate also means great expectations, and the risk of early disillusionment. Three decades ago, Rajiv Gandhi's popular support vanished very quickly once he got embroiled in a defence-purchase kickback scam. Five years later, he was out of power.
To avoid a similar fate, Modi will need to pay as much attention to what he doesn't do as what he does.
