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By:

Akhilesh Sinha

25 June 2025 at 2:53:54 pm

Ideology, Illusion, and the Politics of Power

Leader of Opposition in the Lok Sabha Rahul Gandhi greets supporters during a roadshow ahead of the Kerala assembly polls, in Kozhikode district on Tuesday. | Pic: PTI New Delhi:  At a critical electoral juncture in Kerala, the political contest being waged in the name of ideology appears less about public welfare and more like a renewed struggle for the division of power. Kerala's electoral battle exposes contradictions between ideology and alliances, as BJP, Congress, and Left trade...

Ideology, Illusion, and the Politics of Power

Leader of Opposition in the Lok Sabha Rahul Gandhi greets supporters during a roadshow ahead of the Kerala assembly polls, in Kozhikode district on Tuesday. | Pic: PTI New Delhi:  At a critical electoral juncture in Kerala, the political contest being waged in the name of ideology appears less about public welfare and more like a renewed struggle for the division of power. Kerala's electoral battle exposes contradictions between ideology and alliances, as BJP, Congress, and Left trade accusations while prioritizing power, leaving voters questioning credibility, governance plans, and commitment to justice.   At the national level, the Congress and the Left position themselves as opponents of the Bharatiya Janata Party and Prime Minister Narendra Modi. Yet before the public, they often appear equally eager to undercut one another. In Parliament, they join hands to bring no-confidence motions and accuse the government of misusing investigative agencies. However, at the state level, this coordination is conspicuously absent. In Kerala, Congress leader Rahul Gandhi has alleged a nexus between the CPI(M) and the SDPI, even hinting at tacit understandings between the BJP and the Left. Meanwhile, LDF Chief Minister Pinarayi Vijayan has dismissed these claims as "entirely baseless."   This persistent friction reinforces the impression that ideology has become largely symbolic, while the real contest revolves around consolidating vote banks and securing seats. The Left, invoking the language of "pragmatic alliances," signals readiness to align with the Congress at the national level. Yet in Kerala, it faces accusations of straying from its foundational principles, even as it projects itself as the principal alternative to the BJP.   Conspiracy factor Congress leader Rahul Gandhi has repeatedly asserted in his campaign rallies that this election is a contest between two ideologies-the Left and the UDF. Yet, he claims, for the first time there is an "unprecedented partnership" emerging between the Left and the BJP. He alleges that the CPI(M) can be easily controlled by the BJP, whereas the Congress-led UDF would not play into its hands. Such assertions risk creating the impression that ideological confrontation has now given way to a politics of expedient compromises.   On the other hand, CM Pinarayi Vijayan firmly maintains that his party neither seeks support from the SDPI nor engages in any covert understanding with communal forces. He portrays the Left Democratic Front as a formation grounded in "clear ideological principles" and resolutely opposed to communal politics. The contradiction here is striking that just as the BJP accuses the Congress and the Left of collusion, the Congress and the Left, in turn, level similar charges of "compromise" against each other.   Confused Electorate In Kerala's electoral theatre, PM Modi has branded both the UDF and the LDF as "each other's B team," while projecting the BJP as the only genuine "A team." His argument rests on the claim that the state has, for decades, been trapped between two traditional power blocs, one corrupt and the other allegedly even more so. He contends that both alliances have deceived the public through vote-bank politics, whereas the BJP now promises to "expose" their corruption and deliver "justice."   The larger question remains, when the Left and the Congress join hands in Parliament to oppose the BJP, is their unity rooted in a principled stand against the ruling party BJP/NDA, or is it merely political theatre calibrated for electoral convenience? If both claim to be ideologically committed formations, what justifies their readiness to confront each other in the states and often aggressively over vote banks?   Real Issues At the national level, the Left often raises its voice on substantive constitutional and economic questions; corruption, public debt, privatization, and decentralization. Yet, in the heat of elections, these very debates are reduced to the arithmetic of vote banks and seat shares. The BJP, as the ruling party, seeks to anchor its campaign in development metrics, flagship projects like the Vizhinjam Port, and symbolic initiatives such as the Nari Shakti Vandan Act, presenting them as tangible achievements before the electorate. The opposition, in turn, attempts to recast these same initiatives as narratives of "debt" and "plunder."

Price Check

Maharashtra’s decision to keep ready reckoner (RR) rates unchanged for 2026–27 is a rare moment of restraint in a property market accustomed to incremental inflation. The move, justified by the government on grounds of the ongoing US–Iran conflict and a visible cooling in parts of the real estate sector, offers immediate, if modest, relief. In cities like Mumbai, where even marginal policy shifts can swell transaction costs, the freeze is sensible. But it is not sufficient. If affordability is the goal, prices themselves must fall by at least 10–15 percent in order to offer relief to customers.


RR rates, which determine stamp duty and registration values, effectively set a floor for property transactions. In a high-cost market, even a 3–4 percent annual increase as seen in recent years can translate into a meaningful rise in upfront costs for buyers. Last year’s hikes - 3.39 percent in Mumbai and 4.39 percent across the state - came after a two-year hiatus, itself preceded by modest increases during the pandemic years. By holding rates steady now, the state is acknowledging both the resilience and the limits of housing demand.


The post-pandemic surge in real estate fuelled by low interest rates, pent-up demand and a rush for larger homes, has begun to taper. Luxury housing has remained buoyant, but the mid-income segment, particularly in Mumbai, is showing signs of strain. Developers, through their industry bodies such as CREDAI, have flagged a market that is increasingly sensitive to price.


Freezing RR rates removes one source of upward pressure. It ensures no additional burden via stamp duty-linked costs, introduces a degree of predictability in pricing, and offers a marginal improvement in affordability. For homebuyers, that is no small comfort. For developers, it provides clarity in an uncertain environment.


But a freeze is not a correction. It is, at best, a holding operation. The deeper problem lies in the widening gap between property prices and household incomes. In many urban pockets, particularly in Mumbai and its extended metropolitan region, valuations remain elevated relative to what most buyers can realistically afford.


Developers fear that overt price cuts could erode margins and unsettle investor sentiment. But a stagnant market carries its own risks.  


Housing markets function best when they are credible. That credibility depends on a shared understanding between buyers, sellers and the state of what constitutes fair value.


The state’s parallel efforts of refining valuation tables, updating land records, and incorporating new survey data are steps in the right direction. They promise greater accuracy without altering headline pricing. But better data cannot substitute for better alignment between prices and purchasing power.


By freezing RR rates, the Maharashtra government has avoided adding friction to an already delicate market. But prudence must now extend beyond policy into pricing. For now, the government has pressed pause. The market must press reset. 


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