Don't mistake good psephology for good policy

Outcomes of elections cannot be a barometer of the wisdom of economic policy

An election result is upon us.  India’s most populous state and her neighbour have emphatically voted the party in power at the Centre into government. Two tiny states have returned fractured verdicts and coalition governments led by the party in power at the Centre have been installed.  The single-largest winner in these two states is having to sit in the Opposition.  Another state elected the principal Opposition party to power.
 
The polls were seen as a referendum on whether demonetisation, announced in November, met with approval by the people of India. Shortcoming in psephology skills is now equated with