Do it yourself

After the conclusion of the recent Haryana Assembly elections, a lot of people, including some of the senior most political analysts & observers, wondered why the Congress party lost the election, contrary to the popular perception. The ruling party was witnessing serious anti-incumbency issues. The Congress party, being the principal opposition party, had raised all the pertinent issues concerning the common people. Congress leader Rahul Gandhi carried an effective campaign. Almost every poll projected a clear lead for the Congress Party. At a gathering last evening someone asked me “how do you explain the repeated poor performance of the Congress Party, despite the rising popularity of its main leader?” My answer was simple, “Congress leaders are telling people what problems (inflation, unemployment, nepotism etc.) they are facing, as if people are not aware of their problems. Congress leaders, however, do not offer a solution for any of the peoples’ problems. That is why they lo...

Verdict 2024: Market Implications An analysis of the past 30 years of market trends provides no evidence to suggest that elections, the form of government, or the strength of a particular party in the parliament impacts the market performance significantly. However, it is common to see higher volatility during or around elections. Insofar as the fear of a multi-party coalition or a fractured mandate is concerned, I believe, the investors should be relieved by the prospects of a true coalition coming to power. Because, in the post-independence era, the best periods for the Indian economy have been those when a “coalition” government was in power. It is however important to note that by “coalition” I do not mean just a multi-party government. In my view, coalition government means where people with diverging socio-economic policies jointly participate in a government. Empirical evidence suggests that such coalition governments in India have agreed on a common minimum agenda and foc...

  Exploring India – Part 2 In the past three weeks our team travelled through eight out of ten administrative divisions of Madhya Pradesh (MP), covering thirty six out of fifty two districts in the state. I may share some key points from the socio-economic and political assessment made by the team. Socio-economic assessment From socio-economic perspective, MP comprises of easily distinguishable three states – 1.    Tribal areas that are extremely poor; lack basic amenities (especially health and education); not properly connected; agrarian; highly contended; and mostly integrated with nature. Though the non-tribal elements and cultures have started to make inroads in these areas from the fringes, the impact so far is limited. Mobile phones, packaged snacks, pan masala (chewing tobacco sachets), motorcycles (scooty), small solar panels, shirt-pants, denim, plastic crockery, are main signs of what is commonly known as “modern civilization” in the tribal areas o...

  योगस्थ : कुरु कर्माणि सङ्गं त्यक्त्वा धनञ्जय | सिद्ध्यसिद्ध्यो : समो भूत्वा समत्वं योग उच्यते ||2:48|| Be steadfast in the performance of your duty, O Arjun, abandoning attachment to success and failure. Such equanimity is called Yog. (Srimad Bhagavad Gita, Chapter 2 Verse 48) बुद्धियुक्तो जहातीह उभे सुकृतदुष्कृते | तस्माद्योगाय युज्यस्व योग : कर्मसु कौशलम् ||2:50|| One who prudently practices the science of work without attachment can get rid of both good and bad reactions in this life itself. Therefore, strive for Yog, which is the art of working skillfully (in proper consciousness). (Srimad Bhagavad Gita, Chapter 2 Verse 50) In the present times, ‘politics’ is a struggle to find balance between economics and popularity. Good economics (fiscal prudence; balanced monetary policy; equitable taxation; etc.) usually does not get popular votes. Whereas poor economics (subsidies; helicopter money; unsustainable incentives like tax concessions, lower rates...

In the year 2015, the global leaders committed to an ambitious agenda of attaining the Sustainable Development Goals (SDGs) by the year 2030. SDGs aim to improve economic, environmental and social aspects of the wellbeing of various societies. SDGs include 17 goals, 169 targets and 306 national indicators. Being the host to the second largest pool of population, India played a prominent role in the formulation of SDGs. Having committed to the SDGs, it is incumbent upon the government, both national and state, that the national development agenda is congruent with these Goals. While a majority of goals focus on making perceptible impact on the quality of life of underprivileged, sustainable economic development is the key underlying theme. It is incumbent upon the signatories to the charter of SGDs to ensure "decent employment and economic growth", development of "industry, innovation and infrastructure", development of "sustainable cities...