Third Front can be Disastrous for India

Yesterday an assortment of leftist and regional parties officially formed a "Third Front" to contest India's upcoming general election. The new alliance includes the Communist Party of India (Marxist), the Communist Party of India, the Revolutionary Socialist Party, the All India Anna Dravida Munnetra Kazagham, the Forward Bloc, the Janata Dal (Secular), the Telangana Rashtra Samithi, and the Telugu Desam Party.

Representatives of the Bahujan Samaj Party (BSP), which rules Uttar Prades did attended the rally that launched the Third Front, however it is unclear whether or not the party will join the alliance. This is because the present UP chief minister , Mayawati is reportedly demanding to be the Third Front's candidate for prime minister if the BSP does join.

I strongly believe that if the Third Front accepts Mayawati's demand and also wins the elections, this will be catastrophic for the Indian politics & economy too. How can someone as corrupt as Mayawati be India's prime minister...?

Moreover in the past on two occasions when a similar Third Front type alliance has come to the power, they were unable to come even close to completing its full term. This means if in this case the Third Front is unable to do so, will lead to fresh elections and disastrous on India's economic health as the quantum of money spent on one general elections is too high. This can severe the already worse deficit situation and surely a negative on India's rating. The left front is also known for all its conservative economic decisions, tax hikes for high income people, etc.. and in the time of turmoil could further add to India's woes.

Currently India's political risk rating by Economist is BBB and in case the Mayawati government comes to the power there is a certainty of rating downgrade since it has already expressed its concerns regarding the same. This will further lead to further reduction of FDI and FII investment in India since when comparing across economies as investment destination political risk is a major selection criteria.

Thus I hope that Mayawati's Third Front do not win the elections and as an eligible voter I would play my role that this happens and urge you to do the same as well.