Economic concerns of the middle class, old-school Hindutva laced with talk of increasing threats of Islamism, and farmers’ distress — all these will be the key components of the BJP’s campaign as the party gears up for the next general elections.

Addressing the party’s national council on Monday, president Rajnath Singh demanded reduction in interest rates on home loans, raising the income tax exemption limit to Rs 1.5 lakh, and regulation of the real estate market and stock market — all serious concerns of India’s expanding middle class. Second part of Singh’s speech to the 4,000-strong audience was on the dangers of minority appeasement and the UPA Government’s alleged “failure to keep jihadis under check.” He also raised the issues pertaining to agriculture. The party evidently expects to whip up and consolidate the Hindu voters — on a subtle anti-Muslim campaign, made easier by an atmosphere of middle-class economic grievances.

The Congress too, had considered housing loans and real estate issues as a political plank. In fact, some Congress leaders had even suggested that Sonia Gandhi raise the issue of home loan interest — like the way she raised land acquisition — along with inflation and FTAs with the Government. While the Congress could not get its act together, the BJP has already made it an issue and is likely to find resonance with the middle class.

Singh demanded that the interest rate on home and education loans be brought down to the 2004 levels, when the NDA was in power, and that on agricultural loans be reduced to 4 per cent. “Housing is a basic human need. This sector cannot be left unregulated or uncontrolled. To bring about healthy competition in this sector and to ensure that the common man is assured the availability of a house, the BJP is demanding the setting up of a Real Estate Regulatory Authority,” he said.

... contd.