The Meaning of the Verdict in the Recent Indian Parliament Elections
India is on a growth path, and a very stable Government at the centre will mean a great deal to the continuance to the policies of economic reforms in the past two decades. However, the verdit in the recent elections to the Lok Sabha, the forum that decides every single major decision affecting the lives of millions of people, is significant for several reasons. This article is an attempt to discuss some of these reasons.
Likewise, Mr Lallu Prasad Yadav, and Mr. Ram Vilas Paswan, who sought to enter into a very unholy alliance and ditch the Congress in Bihar, have been rejected by the electorate. Instead, its Chief Minister, whose party is an allay of the BJP, has very successfully infused hope in Bihar, a very backward State in North India, by improving its law and order position.
The Major Alliances Will Prevail
The Indian Communists tried to allay with Mayawathi, and a few regional parties and sought to cobble up a third front of parties that were against both the National Parties — the Congress and the BJP. However, this front is made up of useless politicians like Mayawathi, whose only ambition is to become the Prime Minister of India. This front has never really been able to present a coherent and viable agenda that could have caught the imagination and hopes of the average Indian.
The vote that the electorate has now given, is very clear. There will be just two alliances — one lead by the Congress and another by the BJP. Since the latter does not have leaders who can capture the collective consciousness of the Indian people, the Congress stands a greater chance of leading the country, though it cannot do so on its own. Its alliance partners like the DMK will stand by it, through thick and thin.
Economic Reforms Do Matter
India is now open to Foreign Direct Investment like never before. This has changed the lives of millions of people. For example, in the cellphone market, there has been huge foreign investments, and the market has simply zoomed. Hundreds of thousands of small retail traders sell cell phones, the recharge cards of the various players, and the sim cards that allow one access to the cell phone facility. The retail traders make a decent amount on the sales and the turnover, on very conservative estimates gets them atleast 500 US dollars every month, and this is pretty good money, in India, even today. This is the sort of growth that has already happened in the service sector, and thousands of small hotels, the courier services, the grocery shops, the electricians, drivers, plumbers and construction workers have all seen their incomes climbing.
This growth has happened only because of economic reforms. For example, in the insurance sector, where there is still a huge scope for growth, there are a number of private players, who have employed hundreds of thousands of educated Indians. Their income leads to economic growth, and this growth is not restricted to the service sector alone. Since these people who are gainfully employed pay their taxes very well, the Government is able to encourage manufacturing growth, and this leads to further development as well.
The message of the recent verdict in India is very clear — development is all that matters. Other issues can wait. This is indeed a good message that will do the country a great deal of good in the years to come.
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