Which political party suffers most in Punjab polls | Rs 500 and Rs 1,000 notes scrapped
This certainly won’t be BJP as it gets a major plank in electoral campaign that will undercut AAP votes. However in Punjab, BJP is just a junior partner of Shiromani Akali Dal (SAD), which has the maximum money power after ruling the state for the last 10 years.
However, AAP has given tickets to many rich landowners who made money through real estate deals. AAP will probably be the most affected as it’s probably the party with least funds in the bank and is dependent on largesse of its rich supporters.
The government’s move to scrap Rs 500 and Rs 1,000 notes+ is expected to deal a major blow to political parties fattening their coffers with cash contributions in anticipation of high stakes electoral battles in Uttar Pradesh, Punjab, Uttarakhand, Goa and Manipur.
With political parties – and individual candidates – counting on cash to fuel campaigns, Rs 500 and Rs 1,000 notes becoming illegal tender in one stroke is bound to leave big players hamstrung and suddenly resource-poor.They will also have to deal with the prospects of cash hoards turning useless as the money was never declared and cannot be exchanged for legal denominations.
Lead players Congress, SAD and AAP in Punjab, where money is a big part of “election management”, may need to completely rejig strategies and prepare to seriously scale down spending. Though the decision was taken by the BJP led government, the party itself will be affected.
Another former CEC, H S Brahma, put it rather succinctly, “Tonight’s announcement by Narendra Modi has by default ensured a level-playing field in the coming round of assembly polls as far as money power is concerned.” Yet, parties particularly dependent on collecting money from supporters and candidates will be hit the hardest.