Early General Election Could Save Indian Economy Bikash Choudhury Now Indian Economy has truly shifted to the ICU; with falling and failing Indian Rupee in the currency market with growing current account deficit, FII withdrawing investments in the country, FDI Pipe running dry along with plummeting Industrial production and growing food & petroleum prices. The good doctor now questioning him; if, half a century long reading, teaching and practicing Economics were any good? The RBI Governor Designate can offer the Govt. one simple advice to save the economy from further turmoil; and that is announcement of General Election in December 2013. That could work as the life saving drug for Indian Economy. There is a simple analogy for this prescription which good doctor failed to learn. Elections in India are very expensive affair both for the State, for the Political Parties and for the candidates fighting elections for Parliamentary and Legislative Assembly seats. If we assume Rs. 1000 is the cost to reach to an electorate by all Political Parties and respective candidates then the total expenses in the Parliamentary election alone would amount to over Rs. 70,000 Crore. And, this huge amount of money would come to the mainstream economy through the market as the Election machinery of Political parties and candidates would consume Automobiles to Aircraft, Loud Speakers for the rallies to Lanterns for the Village Campaigns, Paid news to TV Commercials and food & wine in very huge quantity to impress upon the voters to cast their votes in their favor. The net result could be the demand for goods and services in all most all sectors of the economy rise in a short period of time which could arrest the downward movement of the economy to an extent. Further, apart from the money part; there would be a passionate fight between two National Parties. One would try to retain power at all cost and other would leave no stone unturned to regain power after 10 yrs in the opposition benches as the “Shining India” campaign bombed on their face in 2004. The Regional parties would also give a tough fight in their respective fiefdoms. There will be heightened Competition among candidates as there would be a lot on stake, emotion would run high and enthusiasm would return in place of monotony. At the end, there would be Hope that the next Govt. would be better than previous one and current level of despair would give rise to creativity. But, how can we convince the good doctor that this may be his last best prescription for the Indian Economy? E-mail:streben.market@gmail Fax: 0674-2725130/2720985 Mobile: 9853426657/9238912647 Address: Flat # 105 Kalpataru Nivas(apartment), Patia,Bhubaneswar Odisha,INDIA-751024 Twitter: @ideasofhope Blog: ideasofhopebikash.blogspot
Posted on: Mon, 19 Aug 2013 16:53:23 +0000
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