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regular-article-logo Monday, 01 July 2024

Letters to the Editor: Death knell for YOLO economy

Readers write in from Mumbai, Chennai, Calcutta, Barnala, Visakhapatnam, Hooghly, Raichur, Nadia and Nainital

The Editorial Board Published 06.06.24, 07:44 AM
Representational image.

Representational image. Sourced by the Telegraph

Life lived king size

Sir — Time is relative. To the world emerging from Covid-19, life had seemed too short to waste on saving for an old age that may never come. This had given rise to the ‘YOLO economy’ — short for ‘you only live once’ — and revenge spending, where consumers spent their savings on everyday luxuries. But as the scare caused by Covid-19 recedes from memory and life and economic inflation stretch out indefinitely before the people, the death knell has been rung for the YOLO economy, according to economists in the United States of America. India, where consumer spending reduced during and after Covid-19, clearly bucked the YOLO trend. But it is not that Indians did not spend because they believe they have more than one life; they just had no savings to splurge.

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Rashmi Pathak, Mumbai

Popular opinion

Sir — The results of the 2024 general elections prove that Narendra Modi is not invincible (“Vox populi”, June 5). The Modi magic is waning and his impudent slogan of ‘chaar sau paar’ has been belied. The Bharatiya Janata Party led by Modi has fallen short of a majority for the first time since 2014. The fact that the BJP performed poorly in Uttar Pradesh, the epicentre of the Ram mandir movement, must be doubly humiliating. A third term in governance has proved to be rocky for many a veteran leader. Only time will tell if Modi and the National Democratic Alliance survive the full term.

Ranganathan Sivakumar, Chennai

Sir — Slogans like “Abki baar chaar sau paar” and “Jo Ram ko laye hain, hum unko laayenge” have failed to work to the BJP’s advantage (“Far from 400-paar, but Modi sees ‘historic feat’”, June 5). Joblessness, rising inflation and local issues have been prioritised by the electorate. With the BJP failing to cross the majority mark on its own, the party will now have to depend on veteran kingmakers like N. Chandrababu Naidu of the Telugu Desam Party and Nitish Kumar of the Janata Dal (United). However, the INDIA bloc will also try to form a government with the support of Naidu and Kumar. It remains to be seen if these veterans switch sides.

Deba Prasad Bhattacharya, Calcutta

Sir — The Indian public must be lauded for showing Narendra Modi his place. An era of coalition politics has returned to India and the brute majority of the Narendra Modi-led NDA has been crushed. The mandate can teach many a lesson. Firstly, hubris, opacity and demagoguery have no room in a democratic government. The verdict is also a message against hatred and divisiveness. These lessons are especially pertinent for N. Chandrababu Naidu and Nitish Kumar. They must keep the best interests of the nation at heart. If they wish to promote and encourage fascism, then the people will not forgive them and they will fall out of favour soon.

P.K. Sharma, Barnala, Punjab

Sir — India’s electorate has shown great maturity in this election. Now that Narendra Modi has been cut to size and his party has not been able to touch the majority mark on its own, he should mend his ways. Nobody should take the voters for granted. Modi should now respect the Opposition and try to learn how a democracy functions.

K. Nehru Patnaik, Visakhapatnam

Sir — The narrow margin of victory of the NDA reveals that the people of India are keen on bread-and-butter issues like unemployment, farmers’s woes and inflation. How the BJP will achieve this in a coalition government when it could not fix the economy even with a brute majority of its own remains to be seen.

Jayanta Datta, Hooghly

Sir — The INDIA bloc has shredded the exit poll predictions and will step into the 18th Lok Sabha as a robust Opposition (“Elected in numbers: An inspired Opposition”, June 5). The Indian voter has shown who the real boss is in a democracy. The Grand Old Party has put up a strong show and changed the perception that the BJP is invincible. Rahul Gandhi has emerged as a rightful and viable alternative to Narendra Modi. The BJP is likely to be kept on its toes not only by its allies but also by the Opposition.

S.S. Paul, Nadia

Sir — Indians have shown that their loyalty, first and foremost, is to democracy and the principles enshrined in the Constitution. Voters will not tolerate an agenda driven by hatred and divisiveness. The BJP’s dream of a ‘Congress-mukt Bharat’ has been crushed with the resurgence of the Opposition. Regional parties, sidelined in recent years, will now play pivotal roles in both the government and the Opposition, ensuring diversity in governance. The election outcome also reinforces faith in the electronic voting machines.

Vijaykumar H.K., Raichur, Karnataka

Sir — When it had a majority in Parliament, the BJP paid little heed to its allies. Now it has to depend on regional allies like the TDP and the JD(U) to form a government. An arrogant king, allegedly of divine origin, thus has to go to lesser mortals with a begging bowl. Ideologically, most of the BJP’s allies are dissimilar. Under Modi 3.0, one hopes that bulldozing will make way for providing employment and improving the lot of farmers and all other citizens regardless of religion and caste.

Amit Brahmo, Calcutta

Sir — The Opposition has put up a stellar fight in the Lok Sabha elections. Citizens have shown that neglecting core issues like unemployment and inflation could imperil a party’s fortunes. Investment in education and employment and containing the burgeoning inflation are problems that the new government must tackle at once. What this election has revealed is that the youth have the ability to turn the tables — the future belongs to them and not ageing politicians.

Vijay Singh Adhikari, Nainital

Sir — As the dust settles on the 2024 Lok Sabha elections, the message from the world’s largest democracy is clear and resounding. The outcome of these elections is a testament to the resilience of democratic values. A coalition government at the Centre will enhance democracy. The verdict underscores the fact that governments must respect democratic institutions.

Dhananjay Sinha, Calcutta

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