New Delhi, March 20: A recent analysis by global brokerage UBS of the manifestos from the past four general elections (2004-24) suggests that the Modi government has been more successful in fulfilling its stated promises compared to the Congress.
UBS notes that the Modi government’s approach of balancing economic reforms with social welfare initiatives targeted at the bottom of the pyramid has resonated well with voters. These initiatives include providing potable water connections to every household, offering housing support and medical insurance, facilitating the opening of bank accounts, distributing free LPG connections, and providing free food rations, among others.
In addition to economic reforms, recent opinion polls indicate that the government’s handling of COVID-19, the construction of the Ram Temple, and the revocation of Article 370 have contributed to bolstering support for the ruling party.
Despite some challenges in rural demand recovery due to weather-related uncertainties and tepid rural wage growth, the Modi government has not introduced significant pro-rural populist schemes ahead of the 2024 elections to attract voters, according to UBS.
Instead, the government has prioritized inclusive growth, particularly in response to the pandemic shock, with a notable focus on rural-focused schemes. However, since 2023, there has been a shift towards women-centric policies, UBS observed.
Political parties are increasingly inclined to offer targeted welfare benefits to women, such as cash support, free bus travel, cooking gas subsidies, and women-centric legislation. This trend is closely linked to the rising percentage of women participating in the electoral process, with female voter turnout surpassing that of males in the 2019 election for the first time, according to UBS.
