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Tuesday, July 23rd, 2024

How did BJP fail to take advantage of GDP growth? Understand each and every thing

New Delhi : The results of the Lok Sabha elections have come. In the general elections, NDA has once again got the mandate to form the government. However, the results of these elections have shocked BJP. The party has got 63 seats less this time compared to the last general election. This time the party has come down to 240 seats compared to 303 seats in 2019. BJP has suffered the biggest setback in the politically important state of UP. The party had won 62 seats in the last general election. Whereas, this time the number of seats of the party has come down to 33. The special thing is that despite the economic growth, BJP did not get the benefit of it. Let’s know what was the reason behind this.

Growth and electoral impact

  • Economic growth of 8.2% in 2023-24, after two years of high growth, will generally be an electoral advantage for the incumbent government by improving living standards of the majority and becoming a key campaign issue.
  • However, this did not happen. Reason: There is a job crisis in India, which is further increasing the impact of inflation.

Reduction in jobs

  • Many indicators suggest that the lack of decent jobs is a significant issue.
  • This should not have been surprising, as official data showed that while GDP or economic output recovered rapidly after Covid, high-quality formal jobs did not grow in the same proportion.

Increase in self-employment

  • The increase in the number of self-employed persons is the most obvious sign of inadequate job opportunities.
  • In India, the high proportion of self-employed workers reflects a weak link between GDP growth and the creation of formal jobs.
  • The number of self-employed people has also increased between 2020 and 2021.

work without pay

  • In 2022-23, 57.3% of workers were self-employed, of which about 18.3% were unpaid workers in household enterprises.
  • This increase in unpaid work since the pandemic shows that many people did not benefit from GDP growth.

Agricultural employment

  • About 46 out of every 100 working Indians were employed in the agriculture sector in 2022-23, a higher proportion than before Covid.
  • Due to lack of job opportunities, many who returned to villages during the lockdown could not access better opportunities. This left them stuck in the agriculture sector, which is the lowest paid and most uncertain sector.

BJP’s account not opened in 7 states, zero in 4 union territories too, see the list

Regional disparities

  • In regions where the BJP lost seats, such as eastern Uttar Pradesh, northern Karnataka and eastern Maharashtra – the poorer areas of its states – GDP growth rates lagged behind many regions.
  • With stagnant incomes, the impact of inflation has made the situation worse, even if it is not high by historical standards.
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