Business & Finance

From no Achhe Din 2014, to Achhe Din 2019

PM Narendra Modi

The most expensive and acrimonious elections in Indian history, have been peacefully concluded, showcasing the strength and might of India’s vibrant democracy. An unpredicted Modi wave has swept India and he is back to power, much stronger and certainly more powerful. This victory was achieved without any more achhe din promises, like he made in the 2014 elections. This victory is not just bigger than that of 2014, but is much more impressive too, since Modi had no benefit of any anti incumbency factor this time. Even more impressive is the clinical manner in which this victory was achieved, systematically decimating all Opposition, despite the fact that here were many chinks in Modi’s armour, which a weak and listless Opposition, (with numerous PM candidates leading it), failed to exploit.

 

You will recall that economic reforms was one of the main poll promises of Mr. Modi in 2014, such as a get achhe din for the common man. It was not just the promise that the voter wanted, but it was also a catchy slogan on which he rode to power. As a part of this achhe din package, he also promised 1.2 mn jobs per year, much needed by a troubled middle class. Those promised achhe din meant economic reforms and performance that would improve the lives of the common man. The promised achhe din never did materialise and what came were poorly executed reforms with no clear strategy, such as Make in India, Skill India, Smart City India etc., which failed to deliver the promised goods. The economic well being of the common man only deteriorated.

 

But it was till October 2016, that it still looked that those promised good days will be delivered by the Modi government, through a slew of policies and reforms, but after the twin disasters of demonetisation and GST, wherein the economic well being of the small and medium enterprises and the common man deteriorated, the hopes of such good days faded. Moreover the overall economy had then started slipping out of hand, in terms of receding GDP growth, falling household and rural incomes, rising unemployment, stalled fresh investments, falling consumer spending etc. And then sensing the impending elections, instead of initiating suitable reforms to resolve these burning issues, populist freebies, whether by way of MSP increase, loans to MSME, grants to farmers etc. were thrown in, to lure the voters, by building the perception that the government is seized of the problem and is giving a solution, which it was not. Thus instead of the promised achhe din, what the common man got was the reverse of it.

 

The economic woes of the common man, unemployment, struggling MSME sector, the rural crisis etc. should have been the main election issues, but a fractious Opposition, with each of its leaders an aspiring PM failed to. They neither had a message for us on this front, nor a credible messenger to convey it to us. The promises like NYAY as the flagship economic promise of the Congress, failed to cut any ice with the electorate and proved to be a non starter. The real state of the economy which highlighted failures of the Modi government thus never came up to become the centre stage of these bitter elections. The Opposition never did seize the initiative and it had no credibility either that it can deliver what Mr. Modi promised but did not, viz. achhe din. The BJP on the other hand was clearly aware of this shortcoming and very astutely kept changing the narrative and prevented its failure on the economic front from becoming the focus of these elections. Thus the deteriorating state of the common man’s life, never thus troubled the BJP in these fiercely fought elections. The voters therefore pinned their hope on Mr. Modi, rather than on a hopeless coalition and the achhe din are thus back for Mr. Modi.

 

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