Indian Electorate Puts Thumbs Down on the Economic Globalizers

May 11 (EIRNS)--When the results of the state assembly elections of India's largest state, Uttar Pradesh (UP) with a population close to 135 millions, came out on May 11, it became evident that New Delhi's United Progressive Alliance (UPA)-led economic liberalizers and globalizers have suffered a massive defeat. Of the 403 seats in the state assembly, the leading party of the UPA, the Congress Party, has garnered a paltry 26 seats.

The UP state assembly election will not have any immediate effect in the power structure that holds the UPA together. However, the UPA, who was engaged in implementing a variety of the "China Model" -- which is to emphasis on a higher GDP growth rate and utilization of a small percentage of workforce to bring about that higher growth rate, without making eradication of poverty of hundreds of millions of Indians as its main platform, has been told in no uncertain terms the rejection of its economic policies. Higher prices, caused by increase in money supply without providing for an adequate increase in production, has further endangered the poor people's lives.

One other aspect of the UP polls is the rejection of the people of UP in general of parties who tried to garner support by projecting itself as a pro-Muslim (UP has almost 35 million Muslims), or as a pro-Hindu party. The ramifications of this UP poll would reverberate throughout India in the coming days. And, if the ruling UPA succeeds in reading the poll outcome correctly, it would have no choice but to re-direct its economic policies to develop plans and programs that benefit the entire country -- and not just a creamy layer.