Next, to say that LJP is politically dead would be very wrong as it still enjoys 6%-7% of loyal vote bank. In a close contest 6%-7% additional vote always matter. At present BJP has increased his vote share approximately to some 25%-26% mainly taking from JDU's vote share. Combined Congress-RJD vote share still stand a vote share of 27%.
RJD's Muslim-Yadav (MY) combination is still existing with around 18% vote share. Thus combined with Congress, it stands to gain much. Had it aligned with LJP, its vote share would have increased to 32% - 33% where it would have swept Bihar. Last time it was BJP-JDU combined vote share of around 39% that failed RJD which contested along with LJP and Congress contested separately.
Now BJP can't gain by substantially getting back some vote share from JDU. Thus the addition of LJP vote share makes BJP stronger with around 32% - 33%. With triangular contest this would be winning vote share and NDA can achieve around 30 seats in Bihar.
There must be a question why Ram Bilas Paswan made an U-turn and agreed to accept Narendra Modi? Well no doubt, his son Chirag did a proper assessment on which direction the wind is blowing. Paswan as a community was against Nitish Kumar who didn't include them in Maha Dalit category. RJD too uses this community as vote bank but never return back any favour.
RJD's all favor is reserved for MY community. With dissents inside JDU itself, LJP clearly saw that it's a sinking ship. It would be comfortable with RJD-Congress alliance had it be given some 7-8 seats. But Lalu had the dictate and the treatment meted out to LJP was unacceptable. Thus there were two options, either go alone or float in the direction of wind! Thus Ram Bilas had to fall in line with his son's logic.
In any case all parties have the right to use opportunities for resurrecting the party. In electoral politics there are never permanent friends and enemies. This was proved many times and proved once again with BJP-LJP alliance.
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