General elections won't affect India's welfare measures: DBS economist
(Sourced from PTI)
Some of the new welfare measures in India will continue to take shape, regardless of the outcome of the general election, a top Singapore bank said today. Despite a change in the government in 2014, impetus for GST, financial inclusion, and fuel subsidy reduction didn't waver, said Indian-origin economist with DBS Research Group Radhika Rao. General elections may take place in April and May.
"We expect some of the new welfare measures to take shape independent of the election outcome," Rao said. India's political economy is attaining modern welfare dimensions with direct cash transfer, universal basic income and jobs provisions, Rao added. With a mixed result in the recent parliamentary by-polls and state legislature elections, risks of a hung Parliament cannot be discounted, she said.
Four recent opinion polls point to an average of 220-230 seats for the BJP-led coalition, falling short of a majority, Rao said, adding, Congress and its alliance members under UPA is expected to fare better than 2014, but 'others' will tellingly enjoy stronger bargaining power.
