The 4th phase of voting is over and 70% of the people have voted. Government of the people, by the people, for the people, is in the process of being formed. Three more phases to go. The eagerness and fortitude of the citizens deserve kudos. They are bearing the heat, dust and the stringent election norms and casting their votes and expressing their wills. All in the interest of democracy and the hard earned freedom.
The drama is playing to full houses and is outdoing any matinee show. There are two topics of interest in India which are doing the doing the rounds. One is who will form the government and the second one is who will win the IPL. Both seem to arouse passions and unbridled creativity, in getting to the people's minds.
Actually India is in a state of flux and will continue to be so until the next Government is formed. However it is also tribute to the systems built up over the years and a strong constitution bound bureaucracy, India continues to function in this interim period. The system takes over.
Coming to the brass tacks. The spectre of high crude prices continues to loom. For a country that imports the lion's share of its oil requirements, high prices are a problem and can have a bearing on corporate performance. Low job creation, slowdown in domestic consumption. The rise in oil comes against the backdrop of unimpressive corporate results, low job creation, a slowdown in domestic consumption, uncertainty in inflation and fears of a subpar monsoon. There are many domestic headwinds that the economy is battling. Add to that fears of a below par monsoon and election nervousness is not helping.
In the next one month, India will have new Government and that is the trigger to watch out for.
The fact that we can sustain such a big election process is an indication of our efficiency and that surely is reason for optimism.
Indian Paint Association