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economy | IST

Election verdict is vote for continuity, death of crony capitalism, says Rakesh Jhunjhunwala

Rakesh Jhunjhunwala, Partner, Rare Enterprises shared his views and outlook on the market as well as on Lok Sabha election results 2019.

Billionaire investor Rakesh Jhunjhunwala sees the Lok Sabha election results as a vote for continuity and end to crony capitalism and bogus secularism.
"I think people have voted for the death of crony capitalism, bogus secularism and vote bank politics. We must acknowledge it as a way of change of thought of the Indian people, that casteism is dying, that aspirations are coming to the fore, that nationalism is coming to the fore, vote bank politics is coming to an end. So I think it is a very significant election, not only from the point of view that the National Democratic Alliance has won, but it is a sea change in the way the country looks at it,” he pointed out.
“The BJP and its allies will be far more bold in doing what is necessary rather than necessarily looking at the next election. I think it is a landmark election, not only for what it is going to do immediately, but what it is pointing to where Indian politics is going to go in the next few years. I am happy that people want a government that works, a government that is not corrupt, a government that is not fearful to take action against anybody, however rich they maybe,” he added.
“I am not looking at what is going to happen in the next three months, I am thinking of what is more important to India in the next five-ten years. The market is going to find a lot of confidence, a lot of money is going to come for investment in the country. I cannot predict what is going to happen in the next one month or three months or six months but I think whatever has happened is very positive for the country,” said Jhunjhunwala.
“I absolutely want democracy in this country but we also have to recognise that it slows things down. So be it. I am not suggesting that we should not have democracy, but let us also recognise that democracy slows things down,” he further mentioned.