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ONE NATION, ONE ELECTION: BREAKING THE CHAINS OF ELECTORAL GRIDLOCK FOR ECONOMIC PROSPERITY

BW Businessworld

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November 16, 2024

INDIA'S ELECTORAL LANDSCAPE is at a pivotal moment. The government's endorsement of 'One Nation, One Election' (ONOE) promises to bring about a transformative change.

- Vikas Singh

ONE NATION, ONE ELECTION: BREAKING THE CHAINS OF ELECTORAL GRIDLOCK FOR ECONOMIC PROSPERITY

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.

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