- Politicians and political parties of every hue and color are known to possess several facets that come to the fore in a chameleonic manner which may not be easy to scrutinize or comprehend or for that matter predict the way these entities disposition themselves. There are hardly a few occasions that might be termed as predictable and one such event is elections. Anything originating from political stability is more or less predictable during election times irrespective of party affiliations. Any guesses? Not a rocket science you see as galore of promises, assurances, reassurances, incentives, inducements, and attractive propositions are liberally thrown around to impress upon the electorate in the lead up to the elections.
PC: Sambit Pal
- We have seen enough of it by now. Never worry about fiscal prudence, prevailing economic situations, growth factors, and practical/pragmatic policies to usher in overall developments. The standard doublespeak and contrasting policy viewpoints can be easily observed while comparing the recently announced Union Budget and the populist sops being thrown around for the ensuing assembly elections to five states. As you are aware, the Union Finance Minister’s Budget last week drew praise for eschewing usual populism amid election season. Its high approval rating was largely influenced by the combined impact its spending pattern and that of states will have on economic growth
- Befuddlingly, following the release of election manifestos by political parties for the ensuing assembly elections, many would wonder if there is a complete disconnect in the economic approach of the Union Government and the next governments in the five states. Compare this, if the Government of India is marked by restraint, wild populism is the name of the game in states. The BJP is the incumbent in four of the five states. Disappointingly, its manifestos have all the characteristics of an opposition party trying to woo the electorate on populist promises. In the crucial state of UP, it has promised free electricity, two free LPG cylinders, and 20 million smartphones and tablets for students.
PC: Onmanorama Staff
- Surprisingly, a party that attempted to push difficult agricultural reforms at the centre has doubled down on impracticable schemes in states. Thus, in Punjab, there’s a BJP promise of MSP for fruits and vegetables as also added everyone’s favourite and default freebie option – loan waivers and free electricity for good measure. Other parties like AAP, Congress, and SP have manifestos that are equally bad. Note that the problem with these promises is of course that regardless of who wins elections, state budgets will have to accommodate such unyielding populist promises. To fulfil election promises, budgets will have to cut back on something.
- Any guesses, again? It has to be public investment or capital expenditure because there is no voluble interest group for this spending. We know that public investment is the most effective form of government spending to create an enabling environment for economic growth leading to jobs, an important form of inclusion. Indisputably, that is the basic premise of the well thought out Union Budget. As such, BJP, priding itself as a party with a difference, too is in effect undermining the growth Budget alongside opposition parties. We need a different narration, please!
