Assessing 'One Nation One Election': Financial Implications Unveiled

The ICAI will evaluate the financial aspects of 'One Nation One Election' reforms to aid a Parliamentary panel in understanding its financial effects. A high-level committee suggested synchronizing polls to enhance governance and resource use. The report claims economic growth post-synchronization.

The Institute of Chartered Accountants of India (ICAI) is set to analyze the financial implications of the 'One Nation One Election' reform, assisting a Parliamentary panel currently reviewing pertinent bills. The ICAI's assessment aims to elucidate potential financial impacts of the initiative.

Chaired by former President Ram Nath Kovind, a high-level committee recommended in March 2024 synchronizing Lok Sabha, Assembly, and local body elections. Following this, the government introduced two bills in the Lok Sabha to establish a legal framework for the reform.

The 39-member Joint Parliamentary Committee, led by BJP's P P Chaudhary, is scrutinizing these bills. The Kovind panel argues that synchronized elections could revolutionize the electoral process, optimize resources, and boost voter participation. It also cites research indicating potential economic benefits like enhanced growth and improved expenditure quality.

(With inputs from agencies.)