New Delhi, March 20 (IANS) An analysis by global brokerage UBS of the past four general election manifestos (2004-24) suggests that the Modi government was better in fulfilling their stated manifesto compared to Congress. The Modi government’s focus on balancing economic reforms with social welfare schemes for the bottom of the pyramid seems to have worked in their favour, according to UBS.
UBS mentioned that besides economic reforms, recent opinion polls suggest the government’s handling of COVID-19, building the Ram Temple, and the revocation of Article 370 have helped bolster support. The recovery in rural demand over the past year has been mixed, with the government not announcing substantial pro-rural populist schemes in the run-up to the 2024 elections, as per UBS.
Instead, the government has focused on inclusive growth with expenditure on rural-focused schemes recording a 16 per cent CAGR over FY19-24. Women-centric policies have taken center stage, especially since 2023, as political parties offer targeted welfare benefits to women closely linked to the rising percentage of women participating in the electoral process, UBS highlighted.
The growing inclination towards offering targeted welfare benefits to women such as cash support, free bus travel, cooking gas subsidies, and women-centric legislation is notable, as female voter turnout surpassed male turnout for the first time in the 2019 election, as reported by UBS. Overall, the Modi government’s successful implementation of manifesto promises and focus on inclusive growth seem to be working in their favor in the upcoming 2024 elections.
–IANS
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