The Aryavarth Express
Agency (New Delhi): Economist Parakala Prabhakar has recently coined the terms “Modi Fatigue” and “Modi Gate,” two phenomena that he believes could drastically shape the outcome of the upcoming elections in India. Prabhakar describes “Modi Fatigue” as a growing sense of disillusionment among the public, stemming from the overexposure of Prime Minister Narendra Modi over the past decade. He argues that when the government’s performance fails to match the level of hype, branding, and promises, fatigue sets in among the people.
In an online interview given to The News Minute, Prabhakar points out that the Prime Minister’s constant presence in the limelight, coupled with unfulfilled promises and the glaring mismatch between the government’s narrative and ground realities, has led to a growing sense of disenchantment among the populace. He cites the government’s much-touted schemes, such as Make in India, Stand Up India, and Skill India, which have failed to deliver the promised results, and the government’s inability to effectively address pressing issues like unemployment, rural distress, and inequality.
The economist also shed light on the “Modi Gate” scam, referring to the controversial electoral bond scheme, which he allegedly labels as the biggest scam globally. Prabhakar asserts that this alleged scam has the potential to erode the moral high ground of the government, which rose to power in 2014 on the promise of combating corruption. He highlights the lack of transparency in the scheme, the potential for quid pro quo arrangements, and the alleged compromise of institutions like the Reserve Bank of India. The Aryavarth Express has not verified the accuracy or veracity of these allegations, these views have been expressed by Parakala Prabhakar in the online interview.
In the online interview, Prabhakar also underscores the government’s efforts to suppress information related to the electoral bond scheme, referencing instances where the State Bank of India sought more time to submit data and the government’s brazen claim that the people of India have no right to know how political parties are funded. He contends that the government’s reluctance to allow scrutiny only adds to the growing suspicions surrounding the scheme.
The economist also touches upon the role of Hindutva in the current political landscape, acknowledging that while it has been a part of Indian politics for a long time, its impact might be overshadowed by the economic crises and the growing disillusionment with the government’s performance. He notes that the current government has faced criticism for its stance on secularism and liberal values, which are enshrined in the Indian Constitution, and that its actions have raised concerns about the erosion of these values.
The electoral bond scheme, introduced in 2018, has been mired in controversy since its inception. The scheme allows individuals and corporations to purchase bonds from the State Bank of India and donate them to political parties anonymously. Critics argue that this opacity enables money laundering and the influx of black money into politics, while the government maintains that it promotes transparency in political funding. The scheme has faced legal challenges, with the Supreme Court of India directing political parties to submit details of donations received through electoral bonds to the Election Commission of India.
As the election season approaches, it remains to be seen how the Indian electorate will respond to the issues raised by Prabhakar. Will the disillusionment with the government’s performance and the controversy surrounding the electoral bond scheme translate into a shift in political allegiances? Or will the government’s efforts to counter these narratives and appeal to its core support base prove effective?
