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LATEST NEWS UPDATES | Real power is with Centre, which holds the purse-strings in these fiscally-challenging times -Harish Damodaran

Real power is with Centre, which holds the purse-strings in these fiscally-challenging times -Harish Damodaran

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published Published on Dec 5, 2020   modified Modified on Dec 6, 2020

-The Indian Express

Post 2014, two centralisations — of political and economic power — continue to reinforce each other, with profound consequences for the country and potential to define popular narrative in days ahead.

The return of single-party dominance and its implications for politics after nearly 25 years of minority/coalition governments at the Centre (December 1989-April 2014) has been widely commented upon. As have concerns over rising corporate market power and their expression, whether in the ongoing protests against the three central farm laws or the grant of bank licences to industrial houses.

The recent Bihar election results — Nitish Kumar is back as chief minister, but of what is, for all practical purposes, a Bharatiya Janata Party (BJP) government — have reaffirmed a larger political trend. There are states that are still opposition-ruled — Punjab, Rajasthan, Maharashtra, Kerala, Tamil Nadu, Andhra Pradesh, Telangana, Chhattisgarh, Jharkhand and West Bengal. However, as many have noted, chief ministers today have been reduced to satraps. The real power is with the Centre, which has the all-important “agencies” and holds the purse-strings in these fiscally-challenging times.

For all their fulminations at not being compensated for shortfalls in GST revenues, states have had to accept whatever little the Centre offered through a special Option-1 borrowing window. The Maharashtra government couldn’t stop the Elgar Parishad case being handed over to the National Investigation Agency, while the Pinarayi Vijayan administration in Kerala has been a mute spectator to the Enforcement Directorate grilling its officials and a minister in connection with alleged money-laundering and gold smuggling probes.

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The Indian Express, 5 December, 2020, https://indianexpress.com/article/opinion/columns/narendra-modi-politics-economy-farmers-protest-7092116/


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