EVERYBODY LOVES A GIFT. That’s the basic principle for businesses looking to build a customer base or entice existing customers into spending more. And it also holds true for elections in India, where political parties go all out to bring in votes by promising schemes and incentives that can run into a few thousand crores of rupees, if not more, that eventually come out of the taxpayers’ pockets.
Not surprisingly then, the recent state elections saw promises of doles and new schemes flying thick and fast. From farm loan waivers and government jobs to free education, higher cooking gas subsidy, financial packages for women, laptops for collegegoing students and reverting to the Old Pension Scheme (OPS), political parties left no stone unturned in trying to win voters during the recent assembly elections in the states of Mizoram, Chhattisgarh, Madhya Pradesh, Rajasthan and Telangana (see chart ‘On Offer: A Reading of Poll Promises’). Prior to that, assembly elections in Uttar Pradesh and Karnataka also saw such promises.
That’s not all. Bowing to popular demand, the government had as part of the Union Budget 2023-24 set up a four-member committee led by Finance Secretary T.S. Somanathan to review the New Pension Scheme (NPS) for government employees. More recently, the central government has extended the free food grain subsidy scheme by another five years at an estimated cost of ₹11.8 lakh crore.
The stage is now set for the General Elections in 2024 and the state polls are expected to help political parties assess how far the promises of freebies helped them in getting votes. For instance, the freebies offered by the Congress in Karnataka are seen to have contributed to its win, while the BJP’s Ladli Behna Yojana is seen to have given it the edge in Madhya Pradesh.
Bu hikaye Business Today India dergisinin January 07, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Business Today India dergisinin January 07, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
The EV Craze
The country’s growing luxury car market is seeing a shift with environmentally-conscious consumers betting on electric vehicles as a sustainable travel option. Though just 6%, the share of EVs in the luxury segment is rising rapidly
The Storage Boom
Data centres are being built at a frenetic pace in india as companies scramble to meet the ballooning demand from mobile phone users and firms adopting al. Can the country’s energy infrastructure keep up?
India Beckons
Owing to rising incomes in India and overall wealth expansion, luxury brands are wooing the country like never before
The Pearls of The Sea
Caviar, that rare food, is considered the epitome of fine dining. Here is everything that you need to know about it
66.Brand persona should define the core"
I’d say this was a strategic pivot. We had an iconic brand, but had, over time, evolved into diversified lines of businesses that could no longer be represented within the confines of our ‘name’.
Unwind in Style
Here is acomprehensive list of top tech picks that help you unwind by blending perfection in performance with luxury
A Lifelong Affair with Inspiration
In my art journey, the diversity of my acquisitions mirrored the expanding horizons of my understanding of art
Make it Bubbly
Champagne is much more than just a symbol of celebration and success. Know about its nuances beyond the bubbles
Palatial Splendour
Buoyed by renewed demand, sales of the glitzy mansions of the ultra-rich are surging like never before. Real estate majors are looking to capitalise on this by launching luxury offerings in record numbers
Of Beaches and Cream
GianChand Single Malt Whisky
