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Last updated: 10 Nov, 2015  

Bihar Map THMB Bihar elections: Now focus on economy

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Bikky Khosla | 10 Nov, 2015
The battle for Bihar is over. The Grand Alliance decimated the BJP-led NDA, scoring a landslide two-thirds majority in the assembly polls. It secured 178 seats in the 243-member House -- RJD: 80 seats, JD(U): 71 seats and Congress: 27 seats. The NDA secured 58 seats, with the BJP on its own securing 53 seats. Political analysts are now dissecting the reasons for the NDA's electoral defeat, and along with them economy watchers have come out with views on possible economic impact of the verdict. I think the NDA's defeat in the Bihar elections is unlikely to have any major negative implication on the economy.

Prior to the election results, some concerns surfaced that a NDA defeat may hit the government's reform agenda. It was pointed out that a victory would help the Centre to strength its presence in the Upper House where its legislative agenda has been repeatedly blocked. But the fact is that Bihar has 16 Rajya Sabha seats out of which four seats are currently held by the BJP, the other 12 being occupied by Janata Dal (United) MPs. Out of the total seats, five (all JD-U members) will fall vacant in 2016 and six in 2018 (four JD-U and two BJP members). So, a BJP win would have hardly helped clear the current RS logjam, though it is now clear that the NDA will get only one out of five Bihar Rajya Sabha seats in 2016 and one out of six seats in 2018.

In the backdrop of the Bihar defeat, industry experts have urged the Centre to give undivided focus on its economic agenda. According to a global financial house, the importance of the Bihar election is overstated and the incremental economic reforms are likely to continue irrespective of the verdict. According to some others, the elections verdict may even result in a better outcome for the future of economic reforms if the Centre takes this as a lesson that only sticking to the development agenda could help them win. I support these views, but at the same time I think the verdict should not be taken by the opposition as a mandate to obstruct Parliament.

The PM recently said that the Indian economy is better placed today, with some major economic indicators, including GDP growth, foreign investment, current account deficit, fiscal deficit and revenue collection giving a better picture. There is no denial of this fact. In addition, control in corruption and sign of improvement in Doing Business raking are also positive developments. But there is still much to be done. Exports are down, quarterly corporate results are not showing uptick in sales, manufacturing is struggling, banks' NPA problem is still looming, and so on. Also, issues like power sector woes, bankruptcy norms and rail-road project development need to be adequately addressed.

I invite your opinions. I'd also like to take this opportunity to wish you all a happy and prosperous Diwali.
 
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Democracy and the democratic way of operating the Nation
SKBhattacharya | Fri Nov 20 04:39:15 2015
I do not know whether I need to speak like this . But then I dare to say that Democracy (the word ,the concept,the are and for that matter the functioning) needs to be re invented and then re defined.But then how I think at the grass root level of the country the worst affected people to be identified and their thought to be understood with prolonged patience and then to convert the same into digital mode . who will do that .Do we have courage to go for finding the right person in each village/kasba level.It may take years together because corrupt hands are very powerful to nullify any thing which gets against their interest. Other side of the story is that this way or that way we all are involved in corruption . It is immaterial whether one agrees or dis agrees. Heart of heart there is still a chunk who are still dedicated and they are millions of mothers . Why they can not come out . They have the will Power and they have the conviction. Can we get them united on our own personal interest.


Bihar elections: Now focus on economy
Bhavin | Mon Nov 16 06:09:00 2015
Sir, I am not a big analyst. Am an engineer middle class person. So far I have seen all daily essentials are becoming costly. Law and orders getting worsen day by day. Taxation killing people. Now swatchta kar also levied. God knows kab ache din aaynege


Over hyped
Amod Malik | Fri Nov 13 05:35:26 2015
Bihar elections were over hyped. The defeat of NDA will not have an immediate effect because next two parliament sessions are anyway with the existing RS team. What really will matter is the morale of defiant and confrontational partner parties like Shiv Sena, TDP and possibly Akali Dal. They will get further boosted to continue their mud slinging and nefarious agenda. Opposition like Congress will get shot in the arm to stall Parliament Proceedings and hinder reforms. Perhaps PM Modi needs to be naive enough to take media to his side or at least nullify some anti-government media houses and use their brute RS-LS combine majority to bulldoze the Opposition designs in coming session. This will not only build Industry confidence in Government but also demoralize the opposition and do image re building for NDA.


Effect of Bihar Election on Economic Refoerm
V K Pathak | Thu Nov 12 07:11:52 2015
I fully agree with above,however there must be some regulatory body for media that what to speak & what not to speak. Negative message to be regularized. Its authenticity must be checked before any debate of flashing on media


Bihar election
Raj Bhatia | Thu Nov 12 06:48:11 2015
I am an outsider as far as Bihar Election is concerned. In my view PM Modi as well as BJP has become arrogant. Their election campaign was nothing but attacking persons/opponents. They had taken for granted that they would win by great majority. They totally ignored happenings in other parts of the country, PM did not comment on returning of awards by intelligensia. Comments by his own senior partymen like Shourie were ignored. I am glad that BJP was defeated. Perhaps they will wake up and improve.


Common Consensus is the need of hour
Rakesh Choudhary | Thu Nov 12 04:34:52 2015
I hope that ruling Govt should understand the importance of opposition and should mend its ways to move on. There would be always instances of imperfections, but the ball should be rolling and should not get stuck. In my opinion, Govt should prove its mettle which I hope they will, if they take small steps rather than moving and announcing great things. The visibility of small success will definitely improve the image of the govt. Bihar election does not symbolizes any thing other than alignment of united opposition, which is bound to happen. Launch of various programs are encouraging but the re-start of the old and stagnant projects should be given first preference with small and little effort, the signs of success will show up. The previous Govt may have announced the projects but have not affected it, but its an opportunity as a ruling govt not as opposing party, to put efforts to revitalize or start as lot of effort would have been already done like project reports, sanctions etc which are time consuming too. As present leadership is seen as CEO of country not a leader of ruling party, hence would be good if CEO controls its team members spilling the milk around by sparking comments. We have great expectation by our motivator and new CEO of our country who should take the advantage and prove. I hope every one is interested today in improvement in economy, as there is huge potential. Jai Hind.


PM: Know why your party got majority in 2014 elections?
Wiswanathan | Thu Nov 12 02:36:12 2015
The BJP-led-NDA, should realize that the people of this Country gave them a mandate to run the Country, & not win elections in Assemblies. By doing so, the government has lost its focus on both the fronts.The BJP-led NDA should not forget that it is the Youngsters who gave them this absolute majority in national elections. And if they do not delver, 2019 elections they will be written off. PM we expect you to give us a status on the promises which your party made in the election, at least once in FOUR months. PM please show RESULTS. Enough of your talk. Your frequent foreign trips gives me an impression that you are RUNNING away from the problem the Country is facing, & you are clueless about solutions.PM In 2019 elections I do not want you to be branded as "Talks big, but Action is a big ZERO.


Economic recovery
Sundar | Wed Nov 11 13:11:13 2015
With loss of Bihar elections by NDA, the so called secular and corrupt parties have gained strength. They will not allow reforms to take place.


Impact of bihar elections on Indian economy
S K NAG | Wed Nov 11 08:02:12 2015
you seem to say that it will have no effect on our economy. I believe it will have. Our Parliamentarians do have least regard to the ECONOMY when they discuss all the issues/bills during parliament session. They are more concerned with their individual or group agendas rather than the economy OR the well being of the common people of our Country. Last 6/7 years' style of parliamentary debate prove the point. PM and his team must concentrate on domestic issues rather showcasing India with all its negativity to foreign countries during PM's foreign visits now and then.PM must throw out the NDA MPS who time and again cause serious fissures in its functioning. Few stalwarts should give up their egos and arrogant style of talking/behaving as if they are the best & their works or performances are flawless. They should introspect more and talk less. Latest FDI opening for few sectors is a 'knee jerk' reaction of PM, to say the least. PM must not look like that he is vulnerable to shocks like election defeat! I wish him all the luck. But I have no hope if our country will or can ever shape up at all.


Bihar development
Shahzad Ashraf | Wed Nov 11 07:30:36 2015
Before election media was not accepting Bihar is developing now u accepting and raising the question regarding this, but I hope it will continue.


Bihar Election
S.RANGASWAMY. | Wed Nov 11 06:04:01 2015
Your Editorial is really wonderful and an eye opener for the BJP and a lessor they should learn. Hope the economy would really bloom, because of this defeat. Nicely written editorial.


Bihar Election
Surajit Patnaik | Wed Nov 11 01:27:31 2015
The discussion and the conclusion drawn is apt. At the same time, liberisation alone be not taken as a synonym for growth and development. Distribution of the fruits of growth, achieved so far must percolate to smaller pockets and spur the nonparticipants to pick up their idea and make a beginning. Equity in social justice and nonthreatening environment make people a bit more positive about future. Eradication of dogma and blind belief is a major constraint at the grass root level. Government must invest a sizeable sum there and fight it tooth and neck and ensure victory, like the country did over polio.


 
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