INSTANT VIEW: Indian govt wins confidence vote

NEW DELHI (Reuters) - Indian Prime Minister Manmohan Singh's government won a vote of confidence in parliament on Tuesday, ensuring the immediate survival of the ruling coalition and a civilian nuclear deal with the United States.

Earlier, the opposition demanded the resignation of Singh after three of its lawmakers said they had been bribed to abstain from the vote.

The government won 275 votes against 256 for the opposition, parliamentary speaker Somnath Chatterjee said.

-------------------------------------------------------------

COMMENTARY:

DEEPAK ACHARYA, FUND MANAGER, BoB ASSET MANAGER:

"It's good news for the overall economy and the financial market because the concern about political instability has gone now. Economic reforms should get a boost before the general election. The stock markets will see a rally tomorrow."

NEERAJ DEWAN, DIRECTOR, QUANTUM SECURITIES, NEW DELHI:

"It's good in the sense that there will be no political uncertainty for the next 7-8 months at least. They will try to do whatever little they can do in terms of reforms. They might take some steps for banking reforms. Of course, they cannot do much. I think the market has already discounted some part of it. Still we may see a 2-3 percent kind of rally tomorrow."

EARLIER:

ANDREW HOLLAND, HEAD,STRATEGIC RISK GROUP, DSP MERRILL

LYNCH, MUMBAI:

"The markets will be relieved, and now that there is no uncertainty, investors will turn to the fundamentals, like inflation and oil and the global markets. Foreign investors will look at how further reforms take place."

"The stock market is likely to go up by 1-2 percent in the morning, then we will go back to the fundamentals, locally and globally."

D.K.JOSHI, PRINCIPAL ECONOMIST, CRISIL, MUMBAI:

"I think it will be positive. The ability of the market to sustain depends on the variety of factors, including oil. The U.S. economy is getting into deeper weakness.