The Indian Elections and Their Aftermath - Part 1

This is going to be a lengthy post, hence it is in two parts. The elections are over. What is up with the Indian electorate? I have not exactly understood why the UPA govt has been voted back to power and that too with such widespread support. One theory I have heard is that Muslims have voted unitedly for it this time which has caused this swing. But, does no one hold the government responsible for the spate of terrorist attacks that took place over the last 2-3 years? Or is everybody hoping that Manmohan will work his magic on the economy and bring it out of the slowdown? Do people believe the NREG scheme and the nuclear deal are wonderful examples of the UPA government's achievements? I don't know.

One question we have to ponder is that what is happening to us as far as terrorist incidents go. When the Mumbai attacks took place, there was national outrage? I do not see any manifestation of it in the electoral outcome. Have we become resigned to the situation? Do we believe we cannot do anything about this? South Mumbai where the attacks took place saw a voter turnout of 47% I think. What is happening here?

One good thing with the electoral results is that the verdict is not fragmented as it has been in the past couple of years. Regional parties do not seem to have a strangle hold over the govt that is to be shortly formed. So we can hopefully look forward to a decisive govt (consider the irony, the BJP was giving ads about a decisive govt). Now it remains to be seen if Manmohan Singh can stand by two promises he had made. Unless I am mistaken he had said in an interview that he would get India out of its slowdown in 100 days if the UPA came back to power. He had also said the same thing about bringing back Indian black money stashed abroad. Will he stand by his words or has he also learned the art of realpolitik? Will we have more farm loan waivers (God forbid)? Apart from the effect on the fiscal deficit of the country, I hate seeing the money that I as a middle class member pay going into farm loan waivers. I am all for helping farmers. But do it properly. Improve irrigation facilities, consolidate land holdings, improve seed quality. Sharad Pawar seemed to be as (or maybe more) interested in the BCCI as he was in the agricultural ministry. Will there be a repeat of this? Whatever one might say, I am happy that it is Manmohan Singh and not Sharad Pawar, Mulayam Singh Yadav or Mayawati that is becomming the PM.

The stock markets seem to have given a thumbs up to the UPA's victory, so much so that trading had to be halted! Does this portend good times to come?