Happenings in Indian Politics of the year
2016 has been a politically significant year for the country. Many events took place that shook the nation to the core. Events that could make or break the coming year for many politically involved individuals and parties. Here are few highlights from the Indian Politics.
The year has been equally interesting. So, let us end the year by taking note of the significant political events of the year:
· GST Bill
The Goods and Services Tax Bill is popularly acknowledged as a transformational indirect tax reform. It will unite the country as a single market with a common tax structure under the narrative of ‘one country, one tax’. Skepticism regarding the certain revenue by implementation of the bill among top government officials has led to the delay in the Budget presentation date.
Finance ministry officials had expressed hope in GST Council for reaching a consensus on the tax rate structure before the Budget making process to enable them to make projections for next year.
· Punjab and UP elections
The Election Commission will probably announce the Uttar Pradesh, Uttarakhand, Goa and Punjab assembly election dates in January 2017.
The polling will likely start from February and may go on until March. After massive defeats in New Delhi and Bihar,BJP retrieved some momentum back in its favor in 2016 with a single assembly election win in Assam.
The decision of demonetization could again prove to be a turning point for Punjab and UP elections. The two are the country’s major economical providers which have been effected most by the decision.
· Jayalalithaa demise
Chief Minister of Tamil Nadu and one of the most influential politician, J Jayalalithaa and passed away on December 5th in a Chennai hospital at the age of 68. She was admitted in the hospital for nearly three months. Jayalalithaa witnessed a severe cardiac arrest a day before the fatal day.
Post the arrest, she was rushed to Intensive Care Unit. Even after utmost efforts by the doctors, she couldn’t make it.
Not just her political admirers but her film fans grieved for the deceased departure.
Demonetization of higher value currency notes have affected India in ways more than one, and it will affect the Indian economy in 2017, but whether it will be a specter of default or there will be wider implementation remains to be seen.
PM Modi had announced a ban on higher value currency notes on November 8, and that had led to a lot of adulation as well as criticism from citizens and economists all the same.
While the economic fallout of the such a radical move will take some time to be evaluated, but the evaluation of its political implications will continue its course throughout the year.