The elections are on in full swing across the country. The Congress led UPA government is staring down the barrel it would seem. After all, no one believes that this government can come back to power. The reasons for this belief are easy to identify. Corruption, policy paralysis, lack of political leadership and inflation are amongst the key reasons. However, as per an article in Mint, there seems to be an academic debate going on among economists, regarding the economic performance of the UPA.
On all parameters except inflation, the ten-year rule of the UPA (2004-2014) appears to be superior to the six–year (1998-2004) rule of the previous NDA government. This may be true from a purely statistical point of view. However, most of the poor performance has occurred in the past three years. It must be kept in mind that the BJP had launched an 'India Shining' campaign in 2004, believing that it had done well over a six-year period. The party lost the election, in part, due to the poor economic conditions of 2002 and 2003. Thus voters give more importance to the years just preceding an election than the entire tenure of the government. This thinking could spell doom for the UPA as it did for the NDA in 2004.