Was it the positive
effect of demonetisation?
The number
of contestants in 2017 Uttar Pradesh assembly election dropped by almost 30
percent compared to 2012.
Against
over 6,800 candidates fighting as party symbols or independents in 2012 UP
election, the corresponding contestants’ figure fell drastically to about 4,800
in 2017.
The contestants’
strength dropped even if we considered and factored in the pre-poll alliances
of Congress-Samajwadi Party (SP) and Bharatiya Janata Party-Apna Dal in the
state.
There was a
jump of over 52 percent in the number of candidates contesting 2012 poll vis-à-vis
2007, when 4,487 contested under party symbols or as independents.
Demonetisation,
announced by Prime Minister Narendra Modi on November 8, 2016, as a major decision
to root out black money, unaccounted cash economy and tax evasion, had sapped
the economy of almost 85 percent of liquidity.
Under
demonetisation, the high value Indian currency notes with 1,000 and 500
denomination were scrapped at one go, although people were given several weeks
to exchange them for new notes or to deposit them in commercial banks.
It was already
expected that demonetisation could put a tab on the number of contestants in
these polls.
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