Amid the economic meltdown in the west and Indian markets showing concern, main opposition BJP is banking on a new class of voters -- the 'EMI class'
NEW DELHI: Amid the economic meltdown in the west and Indian markets showing concern, main opposition BJP is banking on a new class of voters -- the 'EMI class' -- for their support to regain power.
Political parties have depended on various sections of the society based on their caste and religion, but the new group eyed by the saffron party, for a change, has no religious or sectarian element attached to it.
The saffron party will bank on 'EMI Class' -- the middle class section which purchases consumer durables and movable and immovable property through bank loans and repay in instalments.
With the stock market in doldrums affecting the overall economy, the EMI payers are feeling the pinch and this is what the main opposition BJP feels will be the proverbial albatross around the Congress' neck.
Senior BJP leader and former Finance Minister Yashwant Sinha feels that a bulk of voters belonging to this section are fed up with the UPA and will throw their lot behind the NDA during the polls.
"People who took loans at around seven per cent are today forced to pay an interest around thirteen per cent. Their debt burden has increased by 60 to 80 per cent and are looking ahead for a change in policy and the government," Sinha said
The opposition party is confident that the monthly installment payers are looking for a "relief" and are convinced that "only the BJP can provide them succor at" this time of crisis.
Ahead of the forthcoming elections to half-a-dozen state assemblies and Lok Sabha polls, the senior BJP leader says that the "EMI class" would "ensure" UPA's defeat since it has a taste of both UPA and NDA rule and "they know who can help
them sail through."
"The credit for the creation of this class also goes to the Vajpayee-led NDA regime. We successfully managed to infuse the confidence in the Indian consumer to go out and purchase their needs but the UPA rule failed to keep afloat the same confidence in the market," he added.
"The UPA government failed in all fronts. They failed to control inflation. They miserably failed to ensure liquidity in the market and their remedies were also interesting, they raised the petroleum prices to control losses which further aggravated inflation," the former finance minister said.
Sinha claimed that his party has the "much needed prescription" to bail out the market from this crisis and the message would be further amplified as the election campaign sets in motion.
"We have the right prescription for relief which the UPA has failed to provide. People know this and it would also be told to everyone as we campaign further. The sad part of the story is that the UPA failed to even call us for a ceremonial discussion to discuss the crisis," he said.
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