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SIMULTANEOUS elections are expected to aid growth besides reducing uncertainty in the minds of investors and other societal stakeholders, according to a paper co-authored by NK Singh, former Chairperson, Fifteenth Finance Commission, and Prachi Mishra, Chief of Systemic Division Issues, International Monetary Fund.
Singh and Mishra presented the findings of the draft paper titled ‘Macroeconomic Impact of Harmonizing Electoral Cycles’ to the High-Level Committee on ‘One Nation One Election’ chaired by Ram Nath Kovind, former President of India.
According to a press note issued by the High-Level Committee, the paper brought out that, apart from the expenses, there are wider economic ramifications in addition to repetitive expenses. These entailed issues of GDP growth, inflation, investment, expanded public expenditure, fiscal deficit, education, health outcomes, and law and order. The HLC decided to have a wider discussion on the paper.
Some of the economists who participated in the session include Chetan Ghate, Director, Institute of Economic Growth, Indira Rajaraman from Indira Gandhi Institute of Development Research, Poonam Gupta, NCAER, Rakesh Mohan, Centre for Social and Economic Progress.
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