The panel was explained the financial and administrative implications of simultaneous elections by senior state administration officials, who assured that a detailed study would be conducted, particularly regarding the positive impact such elections could have on the education sector
The political representatives were consulted to explore the constitutional and logical aspects of conducting elections at the same time.Representational pic
The Joint Parliamentary Committee (JPC) on simultaneous polls held extensive consultations on Saturday with senior officials of the Maharashtra government, representatives of political parties, the Reserve Bank of India (RBI), and major banks and insurance companies, reported news agency PTI.
The panel has been formed to review the Constitution Amendment Bill on 'One Nation, One Election', seeking to synchronise the general and state polls with the aim of streamlining the electoral process.
Addressing a press conference, JPC members PP Chaudhary and Dharmendra Yadav (both from Lok Sabha) and Rajya Sabha Member of Parliament (MP) Ghanshyam Tiwari said the discussions with government officials centred on the potential administrative and economic implications of simultaneous polls.
One of the political representatives present for the meeting was former Chief Minister and senior Congress leader Prithviraj Chavan. The political representatives were consulted to explore the constitutional and logical aspects of conducting elections at the same time.
The panel also held discussions with RBI officials to understand how simultaneous elections could potentially affect monetary policy and economic stability, PTI reported. Apart from the central bank officials, representatives from major banks and insurance companies, including the State Bank of India (SBI), Bank of India, and Life Insurance Corporation (LIC) also deliberated how simultaneous elections might influence the banking sector and credit culture.
The committee was also made to understand the financial and administrative implications of simultaneous elections by senior state administration officials, who assured that a detailed study would be conducted, particularly regarding the positive impact such elections could have on the education sector.
'One Nation, One Election': Outcomes of consultations to be compiled into report
During discussions with RBI representatives, the committee was informed that an in-depth study would be carried out to assess how non-synchronous elections might affect economic policies, especially in terms of political and policy uncertainty caused by frequent elections.
The committee also engaged with top officials from key banking and insurance institutions, including Central Bank, Union Bank, LIC, GIC, and NABARD. It was agreed that the Indian Banks' Association would conduct a comprehensive study on the impact of simultaneous elections on banking and credit practices. The findings of these studies will be submitted to the committee.
The JPC members confirmed that the outcomes of these consultations would be compiled into a report, which would be submitted to the government for further consideration.
(With PTI inputs)
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
