That was a pretty meaningful vote share decline on the back of bad economic performance.The big investment implication of this dynamic is that successive electorally represented governments will have to pay attention to improving the rural and the urban voters’ economic prosperity.So think about it! There are two extreme state level examples. The piece that will disappoint most meaningfully will be high- end urban consumptions like passenger vehicles or high-end residential real estate.The piece that stays neutral at best is going to be rural consumption. All ships will not rise with the tide and hence do your bottom up work when it comes to the private sector capex piece. Be very aware that there is an acute economic slowdown coming, the good news is there are some pockets that you can invest in.

Source: Economic Times May 17, 2019 07:00 UTC