On Campus

‘There is more accountability in the political discourse now’

| Updated on March 27, 2014

Soumen Biswas

Neha Ashok

Gitanjali Venkatesh

Polls are good for the economy — a new government may benefit students entering the job market.

Do you see the coming polls to be good for the economy and jobs? If not, why? Students of Loyola Institute of Business Administration, Chennai, share their views.

I feel there is a leadership crisis in our country! I don’t see how the upcoming elections can contribute much in terms of steering our nation out of issues such as the widening current account deficit, low growth rate, unemployment and a generally sluggish economy. Our present leaders leave much to be desired and it is time they moved away from politicking and put the interests of the nation before their own. Strong leadership is a prerequisite for the country’s high economic growth and development. We need the right kind of people to guide and rule, else it would be highly challenging to achieve all that we want to as a nation.

Neha Ashok

Poll politics in the world’s largest democracy is definitely the most talked about subject at present, apart from the mysterious and tragic end of flight MH370. The recent frenzy in the markets before the elections, that too in the absence of any major RBI and Finance Ministry policy changes, is an indication that the 2014 general elections will bring some good news for the economy.

Though it is still not clear who will receive the baton from Prime Minister Manmohan Singh, most think-tanks and many D-street analysts are strongly convinced we will soon transition to an era of Modi governance at the Centre. The expected ₹30,000-crore expenditure by political parties during the poll season on SUVs, chartered flights, and so on, will have a sizeable impact on the economy, giving it a much-needed boost. The BJP’s ascent as the frontrunner in this election so far indicates it may get a majority in the Lok Sabha. Such an outcome may go a long way in helping form a stable coalition regime, and that is the need of the hour.

Soumen Biswas

The great Indian poll drama! This year, over ₹30,000 crore will be spent on the elections, with at least half this amount going into the hands of the voters. Talk about direct cash transfer to incentivise the economy and improve consumption! On a serious note, I do believe the coming polls will be good for the economy and jobs, simply because, unlike the previous election, which was fought on the plank of freebies (ok, the grand old party is still doing the same but, hey, it comes under the ambit of societal improvement, so no questions), the present political debate is more on the country’s growth and development. And with the anti-corruption party making its presence felt, we are seeing more accountability creep into the political discourse. This was sorely lacking in the last five years and is partly responsible for the mess we are in now. Finally, although it will take a long time to remove all the long-term growth hurdles, just like the Sensex, I am also optimistic that some good will happen in the short term and we can move further towards occupying a place of importance among the nations of the world.

S.Alphonse Raj David

Whether the coming polls will see the rise of the UPA, the BJP, or a third front, the job market will see a lot of action. On the one side, there will be a growing demand for quality employment from the public, with their high expectations, and, on the other, mounting pressure on the political parties, with each trying harder to live up to these expectations. In a way, the polls are good for the economy — a welcome change in the political structure that may benefit the over 4.5 million determined students entering the job market every year. Students pursuing engineering or MBA programmes have, for the past few years, heard the same old lines ‘jobs are down in the market’ or ‘the job market is dull’. So, we are tired; tired to see past governments constantly fighting to fix problems rather than working on developing and promoting manpower. Therefore, there is a glimmer of hope that the coming polls will bring some solutions for the people and the economy.

Gitanjali Venkatesh

Published on March 26, 2014

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