Bihar Assembly election results are unlikely to impact the reforms process in the country as "reviving economic growth" will be a politically important factor for both central and state governments, according to a global brokerage firm.
A Citigroup report said that the state election outcome "need not change the course of reforms".
"Irrespective of results, the reforms could continue as reviving economic growth will remain a political imperative for both central and state governments in power," NDTV Profit quoted Citigroup as saying in a research note.
The firm said that the reforms process may remain intact due to the presence of "broad consensus" on key bills like Goods & Service Tax (GST) boosting "ease of doing business" in the country.
"The Bihar election is key to watch given increasing role of state government in implementing structural reforms especially within concurrent list; likely impact on the Upper House, which has 16 seats from Bihar; political momentum & its follow through on other upcoming state elections -- West Bengal, Tamil Nadu, Kerala, Assam in 2016," Citigroup said.
The pre-poll surveys were mixed with two of them showing a win for the BJP-led alliance and other two suggesting a victory for the grand alliance.
Last month, a survey conducted by Zee Media Group had showed that the NDA alliance would win 140 seats, while the grand alliance was expected to claim victory in just 70 seats.
An India TV-C Voter survey last week predicted a tight contest between the BJP-led NDA and the grand alliance in the state elections, with the former winning 119 seats, just three seats away from reaching the majority figure of 122 seats.
On the other, the grand alliance comprising the Rashtriya Janata Dal (RJD), the Janata Dal (United), the Congress and the Janata Dal (Secular) was projected to win 116 seats.
The first phase of elections was held on 12 October for 49 seats out of 243 seats in Bihar assembly. The five-phase elections end on 5 November and counting of votes will take place on 8 November.
