Book traces evolution of campaigning in India elections

Agencies
September 22, 2019

New Delhi, Sept 22: A new book traces the evolution of election campaigns in India by focusing on key players, rise and fall of political parties, role of digital and technology platforms, and emergence of fake news impacting poll outcome in the country and across the world.

In “The Game of Votes: Visual Media Politics and Elections in the Digital Era”, author Farhat Basir Khan argues that traditional ways of poll campaigns are no longer effective or enough to gain the attention of voters.

“Political branding, image management, crisis communication, data analytics, microblogging, and most importantly, short crisp videos hold the key for today’s elections,” he says.

In the early general elections, political parties used newspapers, public meetings and door-to-door canvassing to convey their messages, policies, manifesto and information about the party.

With rapid advancement and industrialisation, the traditional methodologies of electoral campaigning also changed dramatically and gave rise to an even higher proliferation of modern media technologies, he says.

The book traces the changing political and media landscape beginning with the tepid elections of the 1950s to the feverish social media-driven elections of the 21st century, from the heady post-Independence Nehruvian era to the frenzied victory of Narendra Modi in 2019.

Former President Pranab Mukherjee has written the foreword to the book, published by SAGE, terms it as a reflection on the mood swings of the "unpredictable but very intelligent" Indian voter.

“The book looks at the role of technology platforms, micro-profiling voters, clash of personalities and the rise of the ‘national champion’ - all of which have been dealt with in detail," he writes.

The book discusses the art of forging political alliances, the overwhelming influence of social media companies in global politics, the menace of fake news and the worldwide rise of right-wing politics.

“The unpredictable rise of brand Modi, his inexplicable persona, style of politics and vote-conversion abilities are contrasted with the losing sheen of the Nehru-Gandhi dynasty, loss of confidence in the Congress and electoral reverses for the party,” it says.

The book also looks back at former US president Barack Obama’s and incumbent Donald Trump’s elections where social media, particularly Facebook, played a major role in the campaigns.

“What the pundits had not reckoned with was the impact the newer kid on the block - WhatsApp will have, considering its mega role in making viral news elements that are volatile, insidious and fake,” Khan, a faculty member at AJK Mass Communication Research Centre, Jamia Millia Islamia, says.

He critically looks at how new media companies and platforms have been used to the hilt by election campaign managers.

The book highlights the fact that social media has not just become a daily battleground for fake news but has spread its tentacles around the core of Indian democracy - its free and fair elections.

According to Khan, social media helps to overcome the barrier of means in communication that in turn enables strengthened relationships between voters or advocates and politicians. And when it comes to election campaigns, social media becomes the digital version of the election rallies held on the ground.

There are, however, repercussions - trolls, shaming, morphing and social bullying are the other side of the story. Yet, it allows the politician to focus on the target voter group more earnestly than on-field where they are an inseparable part of the crowd, he says.

He argues that the BJP’s way of using social media is different.

“It pushed as much information as possible to saturate and overwhelm the mind of an average Indian with information, not really allowing too much space for further consideration, and driving him to opt for a hurried, if not impetuous, decision on who he chooses to govern the nation for next five years.”

In one of the chapters, Khan tries to decipher the visual imagery in the newspapers during the 2014 Indian elections.

“The patterns that emerged from the analysis are a clear indication of a robust and well-thought photographic communication strategy in place; it does not seem to be just happenstance or coincidence.

“The BJP was the only party with visible and consistent patterns in their use of photographs. They maintained a constant flow of photographic communication in both the newspapers depicting their focus on the use of newspapers for the dissemination of messages,” he writes.

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News Network
May 4,2020

Munbai/New Delhi, May 4: India expects bad debts at its banks could double after the coronavirus crisis brought the economy to a sudden halt, a senior government official and four top bankers said.

Indian banks are already grappling with 9.35 trillion rupees ($123 billion) of soured loans, which was equivalent to about 9.1% of their total assets at the end of September 2019.

"There is a considered view in the government that bank non-performing assets (NPAs) could double to 18-20% by the end of the fiscal year, as 20-25% of outstanding loans face a risk of default," the official with direct knowledge of the matter said.

A fresh surge in bad debt could hit credit growth and delay India's recovery from the coronavirus pandemic.

"These are unprecedented times and the way it's going we can expect banks to report double the amount of NPAs from what we've seen in earlier quarters," the finance head of a top public sector bank told Reuters.

The official and bankers declined to be named as they were not officially authorized to discuss the matter with media.

India's finance ministry declined to comment, while the Reserve Bank of India and Indian Banks' Association, the main industry body, did not immediately respond to emails seeking comment.

The Indian economy has ground to a standstill amid a 40-day nationwide lockdown to rein in the spread of coronavirus cases.

The lockdown has now been extended by a further two weeks, but the government has begun to ease some restrictions in districts that are relatively unscathed by the virus.

India has so far recorded nearly 40,000 cases of the coronavirus and more than 1,300 deaths from COVID-19, the respiratory disease caused by the coronavirus.

'RIDING THE TIGER'

Bankers fear it is unlikely that the economy will fully open up before June or July, and loans, especially those to small- and medium-sized businesses which constitute nearly 20% of overall credit, may be among the worst affected.

This is because all 10 of India's largest cities fall in high-risk red zones, where restrictions will remain stringent.

A report by Axis Bank said that these red zones, which contribute significantly to India's economy, account for roughly 83% of the overall loans made by its banks as of December.

One of the sources, an executive director of a public sector bank, said that economic growth had been sluggish and risks had been heightened, even ahead of the coronavirus crisis.

"Now we have this Black Swan event which means without any meaningful government stimulus, the economy will be in tatters for several more quarters," he said.

McKinsey & Co last month forecast India's economy could contract by around 20% in the three months through June, if the lockdown was extended to mid-May, and growth in the fiscal year was likely to fall 2% to 3%.

Bankers say the only way to stem the steep rise in bad loans is if the RBI significantly relaxes bad asset recognition rules.

Banks have asked the central bank to allow all loans to be categorized as NPAs only after 180 days, which is double the current 90-day window.

"The lockdown is like riding the tiger, once we get off it we'll be in a difficult position," a senior private sector banker said.

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Agencies
March 9,2020

Mumbai, Mar 9: The mayhem in domestic stock markets deepened with the BSE Sensex falling over 2,400 points and the Nifty50 trading below 10,400 points.

The plunge in the domestic indices was in line with the global markets on persistent fears of economic impact of the coronavirus epidemic.

Stocks of Reliance Industries registered the biggest fall in over 10 years as it fell to Rs 1,094.95 per share. At 1.34 p.m., it was trading at Rs 1,100, lower by Rs 170.05 or 13.39 per cent from its previous close. The stock fell most since October 2008.

The benchmark index of BSE Sensex was trading at 35,232.67 points, lower by 2,343.95 points or 6.24% from the previous close of 37,576.62 points. 

It had opened at the intra-day high of 36,950.20 and has so far touched a low of 35,109.18.

The Nifty50 on the National Stock Exchange was trading at 10,314.25 points, lower by 675.20 points or 6.14% from the previous close. 

It was a sell-off across sectors, led by financial, metal, energy and IT stocks - which weighed on the markets.

Further, crude oil prices also slumped around 30% on Monday as Organization of Petroleum Exporting Countries (OEPC) failed to agree on an output cut deal, eventually causing Saudi Arabia to cut its prices as it is likely to increase its production. Saudi Arabia's stance has already raised concerns of an all-out price war.

Brent crude futures are currently trading around $34 per barrel.

On Saturday, Saudi Arabia announced massive discounts to its official selling prices for April, and the nation is reportedly preparing to increase its production above the 10 million barrel per day mark, according to reports.

As per analysts, the oil market witnessed the worst price fall on Monday since the 1991 Gulf War.

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News Network
May 28,2020

New Delhi, May 28: With 6,566 more coronavirus cases and 194 deaths reported in the past 24 hours, India's COVID-19 tally reached 1,58,333 on Thursday, according to the Union Ministry of Health and Family Affairs.

The number of active coronavirus cases stands at 86,110, while 67,692 people have recovered and one patient has migrated, it said. The death toll due to the infection has reached 4,531 in the country.

Maharashtra is the worst affected state with 56,948 cases. Tamil Nadu has recorded as many as 18,545 cases while Gujarat and Delhi have recorded 15,195 and 15,257 coronavirus cases respectively.

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