The well-known reality of cash stashed in political camps for use in election season has set off a buzz whether rotting Rs 500 and Rs 1,000 currency notes will lead to a "rural stimulus" of sorts ¡ª dumping of money on rural voters.
BCCL
After the demonetisation , there is animated talk in political quarters about which party runs the risk of losing the most cash "reserves" in the countdown to the February elections in Uttar Pradesh, Punjab, Uttarakhand and Goa, states where money power is seen to have a time honoured role before and after polls.
An assumption is that in poll-bound states, political parties and their retailers must have had money hoarded in safehouses and the government decision to ban notes of high denomination has caught them unawares. So if the money cannot be redeemed, parties may have no choice but to distribute it to voters now itself ¡ª allowing them to change small amounts for new notes.
The worst kept secret of the political world is that money is given to voters in the election week or on election eve. The currency notes are distributed by parties through vote contractors in villages and blocks ¡ª like sarpanch or organisational heads at block levels.
Tamil Nadu, Andhra Pradesh and Karnataka are particularly known for this practice but, observers say, northern states are not too far behind with close contests in Punjab and UP heightening the prospects of such scenarios.
BCCL
Now, the issue is how to put the hoarded cash to good use before December 31, the deadline after which they would turn into waste paper slips. Political operatives and observers are talking about tricks like hoarders seeking to turn the money white by giving small amounts to flunkies and aides, to be exchanged in banks.
However, in election season, the use of the money is to lock in potential votes. According to a keen observer, political satraps are likely to summon their vote merchants and entrust them with the task of simply distributing money to local residents before the year-end. The recipients, with small money not crossing a couple of thousand, will be free to get them changed at the bank.
BCCL
But for a catch. Such 'bribing', forced by the December deadline to use the money, would come much in advance of the timeline that parties generally agree upon during elections ¡ª the last week or day so that voters remember their benefactor.
With voters turning smarter every election, political circles are replete with tales that recipients do not always keep their side of the bargain by voting for the payer. "Now, with the payment coming two months in advance, what is the guarantee their vote will follow the money," asked an observer.
But, for the parties faced with rotting cash piles, advance bribes may be the only way out, post-demonetisation.