Belying all exit poll analysis that had predicted a close call between the Congress-led United Progressive Alliance and the BJP-led National Democratic Alliance, the ruling UPA is all set to return to power at the centre, possibly with support from independents or some of the regional outfits.

With a near lead of in around 261 constituencies and assurance of support from leaders like Biju Patnaik, support from the Third Front or the Fourth Front in forming a government has now become immaterial.

The Congress-led UPA has put up an impressive performance in states like Andhra Pradesh, Tamil Nadu, West Bengal and Uttar Pradesh.

The Congress also swept Delhi, did exceedingly well in Rajasthan, Haryana, Punjab and Uttarakhand.

The UPA also put up a stunning performance in Kerala and West Bengal, where the respective ruling Left Fronts have been dealt a body blow.

The Left Front has been virtually wiped out of its bastions with the alliance leading in only 12 seats out of the total 42 in West Bengal, while the Congress-TMC combine leading in 18 seats.

In Kerala, the Left Front could only win 5 of the 20 seats while the Congress-led United Democratic Front (UDF) has won 15 seats.

Contrary to expectations, the UPA has done exceedingly well in states like Andhra Pradesh and Tamil Nadu, with the Congress leading in 26 seats as against just 12 seats for the TDP.

In Tamil Nadu, however, the DMK-Congress alliance is emerging triumphant, which analysts say is due to the DMK scoring on the LTTE factor.

The UPA is ahead in 261 constituencies, having won 204 seats and leading in 57 constituencies. The Congress alone is reported to be leading in 197 seats. The ruling alliance is just short of around 16 seats for the magic figure of 272 in the 545-member Lok Sabha.

The NDA was leading in 158 seats with BJP having secured 113  seats and ahead of rivals in 45 other constituencies. The Third Front was leading in 58 seats, Fourth Front ahead in 28 seats and others in 18 seats.

Of the declared results, the UPA has won 159 seats while the NDA has won 96 seats, the Third Front has been reduced to 32, while others have won in six seats. The BSP has won 9 seats and is leading in 9.

With a dejected right of centre BJP, the main political party in India, having conceded defeat, the Congress-led UPA has said that it would form the next government. The party's supporters went on a celebration overdrive outside the residence of party president Sonia Gandhi.

BJP leader Arun Jaitley admitted that the Congress had won the biggest mandate, even as BJP leader Balbir Punj admitted the party was disappointed at its performance.

Prime minister Manmohan Singh, who was projected as the party's choice for prime minister, will head the government for a second term, at least for now. Manmohan Singh will also be the first prime minister to return to power after a full five-year term after Jawaharlal Nehru.

Various TV channels, which had spent the post-poll week hosting debates by analysts on the likely outcome of the 15th general elections since India's Independence, have now started assigning the most likely seats that the parties were expected to bag. Their projections are based on the over 70 per cent of votes counted.

The Congress exulted over its victory saying it was a vindication of its policies even as the Bharatiya Janata Party (BJP) president Rajnath Singh conceded that he had not anticipated his party's poor electoral showing.

"The BJP's performance in the results is very unexpected. The success for the NDA that we had hoped for has not materialised. The reasons for this will be discussed later," Rajnath Singh told reporters.

However, murmurs have begun in the party against the idea of projecting Narendra Modi as the next in line for being PM after Advani has backfired.