DATE=10/11/1999 TYPE=CORRESPONDENT REPORT TITLE=INDIA / PRIME MINISTER (L) NUMBER=2-254870 BYLINE=JIM TEEPLE DATELINE=NEW DELHI CONTENT= VOICED AT: INTRO: India's Prime Minister, Atal Behari Vajpayee, was named Prime Minister on Monday following his coalition's victory in parliamentary elections. Mr. Vajpayee will be formally sworn in on Wednesday and he says he is confident that he will be able to fill out a full five-year term in office. VOA's Jim Teeple has the latest details from our New Delhi bureau. TEXT: Atal Behari Vajpayee made the short trip from his official residence to the massive sandstone presidential palace, where he was appointed prime minister by K-R Narayanan, India's president and ceremonial head of state. Mr. Vajpayee presented a letter to the President indicating he has the support of support of both his Bharatiya Janata Party and the National Democratic Alliance - the coalition of more than 20 parties he leads which now controls more than 300 seats in India's 545-seat lower house. Atal Behari Vajpayee has been prime minister three times, but he has never had the majority he now enjoys. As he accepted his appointment, Mr. Vajpayee said he was confident his third term in office will be his longest. // VAJPAYEE ACTUALITY // We have the majority, a clear majority -- a decisive majority. // END ACTUALITY // // OPT // Mr. Vajpayee has not indicated what his cabinet preferences will be. There is reported to be intense lobbying by party leaders within the governing coalition for cabinet positions. // END OPT // Mr. Vajpayee's previous government lasted just 13- months and was toppled by one vote in a parliamentary confidence motion led by the opposition Congress Party. After Congress Party leader Sonia Gandhi was unable to form a government on her own, India's third election in three years was called. Following their election rout, four senior Congress Party leaders have resigned, but party officials say Sonia Gandhi, the Italian-born widow of former Prime Minister Rajiv Gandhi will stay on as Congress Party president. For his part Atal Behari Vajpayee says voters want stability now. // VAJPAYEE ACTUALITY // All political parties have learnt a lesson, and the people have expressed their clear opinion that they want a stable government. // END ACTUALITY // Mr. Vajpayee says his top priority is to push ahead with what he describes a second generation of economic reforms. Economic liberalization was begun nearly ten years ago, but the reforms have been slowed down in recent years by a lack of political consensus over how much privatization and foreign investment should be allowed in India. Since Mr. Vajpayee's re-election, India's main stock market, the Bombay Sensex Index, has risen to new heights, passing the five thousand- point barrier twice. (Signed) NEB/JLT/KL 11-Oct-1999 07:10 AM EDT (11-Oct-1999 1110 UTC) NNNN Source: Voice of America .