Our poor memory.

"Prime Minister Narendra Modi...slammed opposition parties 'for adopting a culture of distributing revadi (freebies) to gather votes' and asked people to be wary of it, saying it is detrimental to the country's development as it will keep the nation deprived of facilities that require hard work to be put in." ET. "They think that by distributing freebies, the public can be bought. We have to together defeat this belief and remove this culture from the country's politics." He may be sore because the Aam Aadmi Party (AAP) promised 300 units of electricity free and Rs 1,000 every month to every woman above the age of 18 years in the lead up to the assembly elections in Punjab in March 2022, The Print. The AAP swept the election with 92 seats out of a total of 117 seats, relegating Modi's party, the BJP to just 2 seats, NDTV. People have short memories. About a month before general elections in 2019, held 11 April to 19 May, wikipedia, "Modi will inaugurate on February 24 the government scheme of giving Rs 6,000 annual financial assistance to farmers which was announced in the interim budget," NDTV. In the middle of elections , "He announced that the BJP government was planning to provide loan waivers to farmers of all categories after returning to power in the Lok Sabha polls." DC. In 2017, the Election Commission delayed announcing dates for assembly elections in Gujarat by close to two weeks ostensibly to allow for flood relief work, NDTV. This allowed Modi to announce projects worth billions of rupees, BT, before the so-called 'Model Code of Conduct' kicked in. "It is one of India's tragedies that a hypercompetitive, first-past-the-post populist democracy has helped gain faster traction than good ones. You need only one state to start offering something 'free', and soon it becomes a national obsession," wrote R Jagannathan. "For his part the PM has proposed the idea of one-nation-one-poll in order to reduce the pressure on governments to be perpetually in election mode. But so far he has found no takers." With good reason. It will allow Modi to travel the country announcing handouts in the guise of 'projects' in various states and win total control of the nation. "When industry defaults and a non-performing asset (NPA) is created, the payout indirectly comes from bank funds, which includes deposits. With no NPAs, depositors could get better returns and borrowers could be charged lower rates, as NPA provisions and write-offs raise the cost of intermediation. Farm loan waivers involve payments made to lenders from state budgets," wrote Madan Sabnavis. If it is alright for rich industrialists it should be alright for poor farmers. "Most so-called freebies are given by the Center rather than the states." The government has set a fiscal deficit, which is the amount the government borrows to meet its expenditure, target of 6.4% of GDP for 2022-23, NDTV, and the current account deficit, which is the excess spent on imports over what is earned by exports, "is likely to touch USD 105 billion or 3 percent of GDP this fiscal, mainly due to continuously widening trade deficit", ET. This is the dreaded 'twin deficit' problem which could seriously undermine the rupee, BS. That's why Modi wants us to forget his freebies. However, Google never forgets.