The concept of “One Nation One Election” (ONOE) refers to holding simultaneous elections for both the Lok Sabha (the lower house of the Parliament of India) and the state legislative assemblies. The idea has been proposed with the aim of streamlining the electoral process, reducing the frequency of elections, and potentially cutting down on the costs associated with conducting multiple elections. The primary benefits of ‘One Nation, One election’ is the reduction in the cost of conducting elections as each separate elections require huge amount of financial resources. It would also ease the burden on administrative and security forces, who otherwise are engaged multiple times in election duties. Simultaneous elections, according to the Law Commission, will increase voter turnout because it will be more easy for people to cast many ballots at once. Also, the government can focus more on governance rather than being in a election mode, which often hampers policy implementation.
Here are some potential effects of implementing the One Nation One Election concept on the Indian economy:
Cost Savings: Conducting elections is an expensive affair in India, both in terms of monetary resources and manpower. Holding simultaneous elections could result in significant cost savings as the infrastructure, logistics, and security arrangements can be consolidated for both national and state elections.
Former President Ram Nath Kovind: Chairman of One Nation, One Election Committee
Economic Stability: Frequent elections can disrupt governance and policy implementation; as political parties often focus more on campaigning rather than policy formulation. Simultaneous elections could lead to more stable governance and policy continuity, which can be beneficial for economic planning and execution.
Investor Confidence: Political stability is a key factor in attracting foreign investment and fostering economic growth. If simultaneous elections lead to greater political stability and policy continuity, it could enhance investor confidence in India’s economy, leading to increased investment inflows.
Reduced Disruption to Economic Activity: Elections often disrupt economic activity due to heightened security measures, traffic restrictions, and the diversion of resources. Simultaneous elections could reduce the frequency of such disruptions, allowing businesses to operate more smoothly and efficiently.
Focus on Development: With fewer electoral distractions, governments can focus more on developmental agendas and long-term economic planning. This could lead to better infrastructure development, improved governance, and enhanced productivity, ultimately benefiting the economy.
Potential Challenges: However, there are also potential challenges associated with One Nation One Election. Coordinating elections across the country on a single schedule may pose logistical challenges. Additionally, the staggered terms of state assemblies may need to be adjusted to align with the proposed schedule, which could require constitutional amendments. The biggest challenge in the way of the ‘One Nation One election’ is to sync the terms of the various state legislative assemblies with those of Lok Sabha. There is also no clarity on dealing with situations like midterm polls or the President’s rule in case any party fails to get the majority. Regional political parties argue that having the two elections simultaneously would hamper their prospects because they won’t be able to highlight local issues prominently. Furthermore, they fear they can’t compete with national parties in money and election strategies either.
Overall, the impact of One Nation One Election on the Indian economy would depend on how effectively it is implemented and how it influences political stability, governance, and policy continuity. While there are potential benefits in terms of cost savings, stability, and efficiency, addressing logistical and constitutional challenges will be critical to realizing these benefits.
Written by: MOKSHADA CHOUDHARY, GRADE XI STUDENT