Florida gubernatorial race:
The much awaited Florida gubernatorial race has just concluded. The Republican candidate Mr. Ron DeSantis had won the election. He was a former Congressman and a lawyer for the U.S armed forces. His opponent Democrat Mr. Andrew Gillum has missed the opportunity to become the first Afro-American Governor of Florida. He was the Mayor of Tallahassee, the capital city.
Elections in Florida:
Florida is a swing state that can poll in favour of either parties. Electoral issues are a major concern in the state. Even the senatorial poll recount had witnessed some issues in some of the counties viz. Palm Beach, Broward and Hillsborough. Gillum has conceded the defeat once the recount of polls had provided a clear picture regarding the margin.
Elections in India:
Democratic exercises are also heating up in the world’s largest democracy. With five states in India up for assembly elections, the stakes are high for the party in power. A string of economic reforms including demonetisation and the implementation of GST has created a dent on the impressive growth rate.
The economic reforms have also affected the Micro, Small and Medium Enterprises (MSMEs) and small businesses. Boosting this sector is crucial for reviving the growth numbers to the pre-reform level. To avail the capital, the government had recently embroiled in a contention with the RBI in regard to divestment of reserves held by the apex Bank.
Need for stability:
With the general elections knocking the door for both the nations, a lack of stability in governance could pose a great concern in regard to economic growth. A coalition government in India would end the relatively positive outlook enjoyed by the country from global rating agencies. It is important to note that stability in governance is a key rating indicator.
The right leaning trend in Florida has also provided indications about the imminent polling behaviour. A state wide recount shows that it would be a close call for the incumbent governments at the centre. This is indeed a bad omen as an election result with no clear majority would put economic stability in peril.
Image Courtesy: Steve Cannon, Phelan M. Ebenhack; The Hindu, Wikipedia