The Party’s progress while at the helm of power India by Shantonu Sen.
These days its common to hear small groups holding forth , often at length, on the Party’s progress while at the helm of power India. During one such discussion in a park on a crisp winter morning an ardent supporter of the party, a successful entrepreneur and a smart one , at that, stopped all participants in their tracks . The issue at hand was elections of May 2014, how it was won by their Party and how the support will hold.
The Party had campaigned promising goodies and governance , which , in hindsight, were definitely not all on. For instance, no matter what was said on Black Money no bank a account holder will ever receive 15 lac rupees out of this black money stashed abroad into his account. But so captivating was their mascot’s appeal and so welcome was the manner of promises that the electorate was simply a putty in his hands. He had them eating out of it all the time. It was at this point the ardent supporter said “ winning elections and then continuing to hold on to the votes is determined by micro and macro factors.”
When the listeners looked askance he elaborated. Micro measures is applying measures to winning elections. These are adroit play of words, offering reams of dreams. etc etc. . As to macro measures these are measures taken after having won the elections. One can continue to hold on to the vote by good governance or show of it and by showing fulfillment of the assurances made. The micro measures having succeeded the Party makes progress on the macro measures by hook or by crook and thus holds on to the vote , he concluded!
The cool and calculated method to win elections trotted out by the Party supporter has definitely worked in May 2014. The other Parties were on weak wickets. There was anti-incumbency, poor governance , corruption, plain wrath , all factors that made it easy for the eventual winners. The micro measures that worked in this election may not again unless the macro measures take off.
Look at the GDP. Its down to 5.3% against 5.7% in the previous quarter. Manufacture is worse . Its crawling at 0.1%. There is industrial deceleration accompanied with a crawling manufacturing sector in the first six month of the Party ‘s governance. Labour reforms are still on the anvil. More to the point is availability of land for industry . Not yet in sight on terms that this sector would like. Then there are a cool 15 million wanting jobs they were promised.
True, inflation is down . Petrol prices , budgeted at 110 dollars per barrel is down to 78 dollars per barrel. That inflation is down but no credit to any so called” macro measure”. Again, consumer durables are down and government revenue js no where near the 19% it had , fondly, projected. True, stock market is booming but that is a rainbow only. God knows ,that fortune has favoured the present regime. Together with this phenomenal luck , continued fast movement of files, rapid decision by its babus and continued foreign inflows already looking at 30 billion dollars ache din could still be achieved. But its “iffy” .