THE 4.7% rise in Sensex Stock index after the public release of the preliminary results of the 16th Lok Sabha election says it all. India has voted for economic development and stability. This historic victory of Bharatiya Janata Party (BJP) marks a new era in the electoral culture of India. For the first time in the last 30 years, BJP is the first party to be able to form a majority government. It is not so much about Indian population's disillusionment with secularism that has brought BJP to power. Rather it is a verdict in favour of open and progressive economic policies. It was not so much the religious appeal of the party, but the remarkable success of its prime ministerial candidate Modi in transforming Gujarat into an economic miracle that has attracted the voters. 66.38% of over 800 million voters in the country exercised their voting rights in the past five weeks, and as Congress spokesperson Shakil Ahmed puts it “have decided to vote against us (Congress).”
Although pretty much everyone could predict the defeat of the Congress-led alliance by NDA this time, the extent of Congress's humiliation requires some in-depth investigation. Modi declared his victory as Indian people's rejection of corruption and dynastic rule, but loyal Congress followers are still holding placards outside Congress headquarter urging the leadership to bring Priyanka Gandhi to politics. Apparently, the fondness the people share for the Gandhi family for their contribution to the independence struggle is not going to wane anytime soon. But critics are concerned about the lack of a second tier of leadership after the Gandhis within the party as a major barrier to the internal reform of Congress.
The embarrassing defeat of the party under the leadership of Rahul Gandhi demonstrates how repelled the general population is by his 'feudal prince' image. Modi, on the other hand, has carefully built an image of a 'self-made man' from a humble background through what some might call a 'media and marketing coup.' But the bottom line is where Rahul Gandhi failed to inspire confidence in people and give clear direction about his party's plan in case it got mandate to rule the country for a consecutive third term, Modi made the voters believe in his motto of 'minimum government and maximum governance.'
But does Modi have the 'genie in the lamp' to transform the country into an economic giant overnight? BJP will certainly enjoy a greater degree of freedom in formulating economic policies than the previous government. One of the reasons Congress lost its credibility was its inability to implement economic policies that were not welcome by its coalition partners. So, unrestrained by coalition politics, BJP is expected to formulate economic policies at the national level with more autonomy and efficiency. But will it be able to replicate Gujarat model nationwide without invoking resistance from the powerful state governments run by regional parties? Modi embraced Ratan Tata's Nano in Gujarat after it was banned from West Bengal. This proves the marked difference in views about economic development between different state governments in India.
Indian constitution gives certain rights and privileges to the state governments regarding their economic life. So securing support from these governments will be one of the biggest challenges for the upcoming BJP government while implementing its election manifesto of making India an economically prosperous country. Modi will also have to work against the rising expectation of a thriving middle class and an enthusiastic business community. People are eager for change. But how soon can Modi deliver it? Will the fruits of development reach every corner of this huge country evenly? Are the people ready to wait for the changes to take place or will they lose hope too soon? These are some of the questions that the new government in India will have to address.
This historic victory has proved that the frustration over economic stagnation and corruption during the last Congress regime has compelled people from different faiths, castes and regions to vote for BJP. Indians have put their faith in Modi. It is his turn to return the favour by fostering national unity and political stability. Any prudent statesman with a keen sense of economic modernisation must know that communal violence and political instability can greatly hamper the economic growth of a country. He should also know that cultivating hostile relations with neighbouring countries like Bangladesh will not help his image at the international level and cause unnecessary regional tension. So whatever the religiosity charged rhetoric during the election campaign meant for Modi and his fellow party members, BJP should understand that there is no alternative to consolidation of national identity when it comes to economic development. The sooner the realisation comes, the better.

The writer is lecturer, Department of International Relations, University of Dhaka.