The Parliamentary Joint Committee, currently reviewing legislation for the proposed ‘One Nation, One Election’ system, is preparing for a crucial discussion on September 24th. This high-profile meeting will bring together esteemed economists, including Montek Singh Ahluwalia, Arvind Panagariya, and Surjit S. Bhalla, to thoroughly analyze the potential economic effects of holding national and state elections concurrently.
P. P. Chaudhary, the committee’s chairman and a senior leader of the BJP, emphasized the panel’s commitment to a comprehensive review of the economic ramifications associated with simultaneous elections. This initiative aims to streamline the electoral process and potentially reduce the significant costs involved.
Earlier in April this year, Union Finance Minister Nirmala Sitharaman articulated an optimistic outlook, suggesting that India’s Gross Domestic Product (GDP) could see a 1.5% increase if the ‘One Nation, One Election’ framework is successfully put into practice. These projections for positive economic impact were also echoed by former President Ram Nath Kovind, who chaired a high-level committee formed by the Centre in September 2023 specifically to assess the feasibility of simultaneous polls.