If you wanted an example of the strength of Indian democracy, then today’s interim budget provides that opportunity, as it demonstrated that despite the incumbent government being on its last legs, and faces the very real prospect of being voted out of office, they’ve resisted the urge to announce concessions that may have increased their chances at the ballot box. The Foreign Minister – Pranab Mukherjee went as far as acknowledging that they “didn’t have a mandate to do more”.
Media reports suggest that over a trillion rupees were wiped off the stock market today as investors were hoping that various sops would be provided for key industry sectors to stimulate growth. Given this loss of confidence, I’m surprised that no concrete proposals have been floated to outline what each party would do to revive the economy.
In Britain, I believe that the economy will be the only story at election time, for this reason, I’m intrigued as to why this isn’t the case in India. With the elections so close, doesn’t it make sense to set your stall out on this issue?
With respects to the strength and maturity of Indian democratic values, I hope our politicans show the same depth when it’s our turn to go to the polls.