India stopped buying Crude from Iran from May 2 onwards. This is certainly going to affect prices at the pump and inflation will go up. Whoever comes to power, will have some pressing needs to address. In a week’s time, we will all know who is going to form the government at the Centre. Here is a look at what the two principal parties are facing:
Of the 543 Lok Sabha seats, Congress is only contesting 421. That tells us that they are planning for 2024 or later, hoping that a khichdi sarkar like the 1996 coalition will come to power and they can stay outside and give support (in exchange for immunity), only to create a situation that would look positive for them at which point, they will pull the rug from under the coalition’s feet. Then try and create the impression that only they can lend stability to the country. Unfortunately for them, there are some gaping holes:
- Their pronouncements of the last 5 years do not give the voting public any assurance that Congress can bring more stability than the BJP
- While none of their leaders has gone to jail, the public knows that favours are being called in every branch viz. Executive, Legislature and Judiciary.
- A change in leadership is a must even for them to attempt this. And that would have to be someone with proven administrative experience and a relatively clean image. No one is appearing on the horizon right now so the family will continue to lead the party and drive it into the ground.
- Thanks to Social Media and the bankruptcy of the MSM, the public is much more aware of the day-to-day happenings. The 2014 decisive vote was a mandate to cure the country of its ills, especially corruption. Is the country willing to give Modi another term in order for him to fix this?
- The public is angry that Modi could not even make Ram Setu a National Monument so no one is buying any of his promises on Hindutva.
- The leadership style of Amit Shah as the President of the Party also leaves much to be desired. If the party underperforms, look no further than him. He should have stepped down for losing three significant states last December. But then, that would mean that there is democracy in the party!
- India will need to do some drastic re-tooling of its economic policies which requires someone in the Finance Ministry with gravitas and the smarts to navigate the ship through choppy waters. The two Ministers who have handled Finance have no clue of how Macroeconomics works and how a state of equilibrium has to be maintained.
- A detailed read of the Budget presented in February shows that India has entered the dreaded Debt Trap. Knowing this, no minister will want to sign up for Finance – of course, they may not know what a Debt trap is, in which case the country is doomed. If India wants to do a Quantitative Easing, it must proactively show that it knows what it is doing – and for this, they need someone like Dr Swamy. There are a series of steps that need to be taken in a coordinated manner with fine-tuning along the way to minimize the turbulence.
So what does the wise voter have in his/ her mind? Wait till the 23rd and you will know!
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