It is well-established that every election season, political parties across the board make ambitious expenditure commitments in a bid to woo voters. Freebies are costly which leads to budget deficits, increasing the government's debt. It also increases consumption, inflation, high-interest rates, and reduced investments. The recent Congress president Mallikarjun Kharge’s advice to his party about making only deliverable promises has triggered yet another slugfest on what is popularly termed freebies. While the ruling Mahayuti government's 'Ladki Bahin' scheme is gaining popularity in certain regions of Maharashtra, the Congress-led MVA is all set to promise a host of welfare schemes ahead of the Assembly elections, possibly even exceeding the promises made by the Mahayuti alliance. As a matter of fact, most parties have failed to fulfil promises which demand huge investment by the exchequer. The government must generate revenue and spend it on measures that can create a level playing field. A clear bipartisanship in existing welfare spending in return for imbibing financial prudence as per the rules is the only way forward to avoid this race to the bottom.
