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.com Fax: 0674-2725130/2720985
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