It’s been close to 4 years for the current government in centre and the trust bestowed by public on the ruling government which was at its peak in mid-May,14 is at the scathing low currently. Year on year promises kept on piling up and execution has always been questioned which kept the public guessing about the process of output. It all started with Demonetization, a massive blow to the middle and lower strata of the society in India, though it kept people engaged (more than MNREGA can keep people busy in a year) to remonetize of their savings. When the public was coming back to its senses post DeMo. the massive GST execution vacuum gulped the business class in it.
Even after these two domestic headwinds the expectation around Budget rose some hope in the so called salaried middle class (major contributor of Direct Tax for GOI) and even that slightest of hope or expectation was shattered. An additional percentage of Cess coupled with Long Term Capital Gain (LTCG) for domestic investors who just calibrated confidence to enter the equity market created an unprecedented abyss. The so called Medicare policy for 10 crore families of INR 5LPA/family, the announcement was done prior the contours of the program being discussed by the state governments, an equal shareholder in this massive scheme. I do not doubt the intention of the ruling government but when execution/planning failure deflates the confident planning of the government, it shatters Hope and widens the chasm.
The majority bestowed by the public of the country expected a lot more for this government but unfortunately all planning with correct intention did not prove to be an execution perfect setup. On one hand when the government tried to plug the so called opposition triggered Non Performing Assets by recapitalizing the Public Banks, they again forgot that due diligence is vital and it’s a significant step in plugging any Asset to turn non performer. And hence, we have now another Mallya as Modi-Chowksy issue to handle. When on one hand the entire country is reeling under pressure to get their Aadhaar linked to PAN and PAN linked to TAN and Aadhaar linked to Mobile and Mobile to Bank and Bank account to Aadhaar and aadhaar to Insurance and Insurance to … and it goes all over again and again, our government forgets to secure public money by securing our Banks and the processes around it. Is Aadhaar safe and secure? (That’s another topic for discussion)
With all these incidents that has impacted the lives of many (Let the ruling Government blame the opposition and vice-versa) it is not the middle, lower strata which has suffered but the elite class has also started losing that trust which was bestowed upon the majority powered ruling Seva Sangathan. With Lok sabha elections in an year or may be before I just want to wish our parties all the best and hope the #TrustDeficit starts reducing in a consistent manner so that we again get a government with Majority and not crippled with Policy paralysis or execution failures.