Election crosses halfway stage

India’s mammoth general election that began earlier this month is now past the halfway stage. Votes have been cast in 302 out of the country’s 543 constituencies, with four days earmarked for further voting to take place before results are announced on 23rd May. Opinion polls are banned while the election is taking place, but the most recent ones prior to the start of voting were indicating that the Prime Minister Modi’s BJP was on course to remain in power. However, which party wins probably matters less for the economy than whether the election delivers a stable government. A durable coalition or, less likely, another single-party majority would set the stage for continued gradual reforms that would sustain rapid economic growth over the next few years.