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DATE=10/7/1999 TYPE=CORRESPONDENT REPORT TITLE=INDIA VOTE COUNT THURSDAY (L-UPDATE) NUMBER=2-254758 BYLINE=JIM TEEPLE DATELINE=NEW DELHI CONTENT= VOICED AT: INTRO: Indian Prime Minister Atal Behari Vajpayee and his 22-party coalition have won India's parliament elections. Results show Mr. Vajpayee's National Democratic Alliance -- led by his Bharatiya Janata Party -- has passed the majority mark of 272 seats in India's lower house. It will add more seats as the count continues. V-O-A's Jim Teeple reports the results also show the opposition Congress Party, led by Italian-born Sonia Gandhi, has suffered a major electoral defeat. Text: Six-months after his government was defeated by one-vote in a parliament confidence motion led by Sonia Gandhi and the Congress Party, Atal Behari Vajpayee emerged a winner. His coalition has won a clear majority to form the next government. In the process Mr. Vajpayee dealt a decisive defeat to the opposition Congress Party which suffered one of its worst electoral losses in years The chief spokesman for the Bharatiya Janata Party, Venkah Naidu, says his party won this year for a variety of reasons. // NAIDU ACT // The 15-months of good governance by Sri (Mr.) Vajpayee. Secondly is his personality. Thirdly the alliances we have made in various parts of the country, and fourth is the negative campaign of the Congress Party. // END ACT // He says Mr. Vajpayee has won a decisive mandate to serve a full five-year term. Projections show Congress Party leader Sonia Gandhi has won both races where she is seeking a parliament seat. But her Congress Party is trailing and is unlikely to hold onto all its 140-seats in parliament. A grim-faced Congress Party spokesman, Kapil Sibal, told reporters in New Delhi his party is evaluating the impact of the losses. // SIBAL ACT // The result calls for introspection, frank assessment, and determined action. We attend to this in the coming days. In the meantime, we accept unhesitatingly the verdict of the people. // END ACT // There have been calls for a change in leadership by senior party members. This is the second national election in which the Congress Party has suffered major losses since Sonia Gandhi took control of the party last year. But even as they begin the process of evaluating their losses, Congress Party leaders are saying they will be able to mount an effective opposition to B-J-P led alliance. Projections indicate that although Mr. Vajapayee will return to power -- he will do so with a majority of only about 20-seats and he will sit at the head of an alliance of 22-parties -- many of whom have different agenda's than his own. Analysts say this does not bode well for the new government to serve a full five- year term in office. Meanwhile, India's main stock exchange rose five- percent on the election news -- closing at an all-time high of 49-hundred 63-point-four. The market rise was also attributed to news that Moody's Investor Service has upgraded India's rating from stable to positive, citing promises made by the Vajpayee government that it intends to aggressively pursue economic restructuring. (SIGNED) NEB/JLT/RAE 07-Oct-1999 08:46 AM EDT (07-Oct-1999 1246 UTC) NNNN Source: Voice of America .