Streamlining elections could propel India toward greater governance efficiency, curbing policy stagnation and shifting the focus from short-term electoral survival to long-term development. This ambitious initiative has the potential to enhance governance while unlocking substantial economic benefits.
However, achieving the full potential of a unified electoral system requires harmonising national unity with regional self-governance, equally a fine balance between national cohesion and regional diversity.
The Election Fatigue: India's political machinery, constantly rotating between national, state, and local elections, imposes heavy governance, financial and operational costs. The logistical burden of repeatedly mobilising resources-securing polling stations, educating voters, and deploying law enforcement - consumes billions of rupees each cycle. More concerning is the policy paralysis that ensues. As governments hunker down in fear of electoral repercussions, crucial reforms are delayed or shelved. Voter appeasement takes precedence over policy innovation, stalling growth and governance. The spectre of re-election looms so large that long-term planning often takes a back seat.
This cycle of inaction stunts India's growth potential. A Crux insight reveals that election-induced stagnation has slashed the country's growth rate by up to 15 per cent. This isn't just a temporary economic setback, it's a serious developmental roadblock. In a competitive global landscape, where countries vie for investment, such inefficiency hinders India's ability to build robust infrastructure, improve public services, and reduce poverty.
This story is from the November 16, 2024 edition of BW Businessworld.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the November 16, 2024 edition of BW Businessworld.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Reflections on Consciousness and Creation
Indian-American DEEPAK CHOPRA on the nature of the universe, the digital fabric of existence, and the power of a conscious mind
MORE TAKE TO DRIVING IN STYLE
High-end luxury vehicles are no longer part of a niche market, but a rapidly expanding segment of automobile sales, driven by changing consumer preferences, rising disposable incomes and better infrastructure
India's Growing Affinity for Swiss Watches: A Luxury on the Rise
NDIA'S ROBUST ECONOMIC growth, projected to exceed 6 per cent in 2024 and 2025, is fostering a rising demand for aspirational products. As disposable incomes increase, particularly among the expanding middle class, luxury goods such as Swiss-made watches are gaining popularity.
An ENRiching Outlook
KPMG's latest report shows energy CEOs being optimistic about the sector's outlook. ANISH DE, Global Head, ENRC, KPMG speaks to BW Businessworld's Arjun Yadav on what's driving this confidence
Paving the Path to a Sustainable Future
Salesforce's ESG journey has made an impact beyond the company. SUNYA NORMAN, SVP of ESG Strategy and Engagement at Salesforce, shares more on how the tech giant integrates sustainability into its core operations, supporting global goals while empowering employees
LEADERSHIP TRANSITION AT XIAOMI INDIA
Xiaomi India is experiencing a leadership evolution, beginning with Muralikrishnan B's departure as President by the end of 2024. This change underscores Xiaomi's shift towards nurturing local talent amidst dynamic global shifts. The story tracks key transitions from Manu Kumar Jain's leadership to Muralikrishnan B's impactful tenure, along with recent strategic hires, highlighting Xiaomi's alignment towards market adaptability and consumer focus
WEAVING SUSTAINABILITY
Once a modest home textile manufacturer, Jindal Worldwide has evolved into a vertically integrated textile powerhouse, spanning critical segments of the yarn and fabric value chain
FORCE FOR GOOD
FY24 saw capacity expansions for Century Enka in nylon and polyester segments, along with investments in modernisation, renewable energy, and safety initiatives
REIMAGINING TOMORROW
For V-Guard, tomorrow signifies progress, driven by today's actions, setting the foundation for future growth and value creation for all stakeholders
STRONG LEGACY
Powered by a strong legacy, Gulf Oil continues to be a story of exciting transformation and outperformance for more than a decade