Global Journal of Management and Business Research, B: Economics and Commerce, Volume 22 Issue 4

Figure 8: India mean chart of R2-LokSabha Relative Concentration of Power in Rajya Sabha: Similarly, for Rajya Sabha, the ruling party had 159 seats out of total of 244 seats and there was no alliance. Hence, the Major Ruling Party’s Relative Concentration of Power (R1) is given as 100 percent (159/159*100=1*100=100 percent). Figure 9: India mean chart of R1-RajyaSabha The major opposition party (BJP) won only 12 seats. Whereas, the opposition coalition parties won 14 seats. Hence, a coalition of opposition parties was formed (12+14=26 seats). The Ruling Alliance’s Relative Concentration of Power (R2)) is given as 6.12 times (159/26=6.12 times). The Ruling Alliance is 6.12 times stronger than total opposition alliance in terms of seats won. Higher the value of R2, better is the political stability as government formed will be stronger. Figure 10: India mean chart of R2-RajyaSabha 2.67 2.67 2.67 5.25 5.25 5.25 5.25 5.25 1.43 1.43 1.06 1.06 1.06 1.06 1.06 1.72 1.72 1.09 1.71 1.71 1.71 1.71 1.71 1.50 1.50 1.50 1.50 1.50 2.14 2.14 2.14 2.14 2.14 3.05 3.05 3.05 3.05 2.32 0 1 2 3 4 5 6 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Relative Concentration of Power – Ruling Alliance vs. Opposition Alliance (LR2)-Lok Sabha LR2 MEAN 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 29.03 29.03 77.24 77.24 78.70 78.70 8.80 8.80 62.67 62.67 60.49 60.49 60.81 60.81 73.00 73.00 60.50 60.50 62.28 62.28 60.17 60.17 60.50 60.50 76.67 76.67 80.30 80.30 70.33 0 20 40 60 80 100 120 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015 2017 Relative Concentration of Power – Major Ruling Party (RR1)-Rajya Sabha RR1 MEAN 6.53 5.85 5.85 6.12 6.12 5.42 5.42 2.92 2.92 0.94 0.94 1.66 1.66 1.30 1.30 2.50 2.50 0.77 0.77 0.88 0.88 0.76 0.76 1.33 1.33 1.68 1.68 1.78 1.78 2.00 2.00 2.13 2.13 0.43 0.43 0.49 0.49 2.28 0 1 2 3 4 5 6 7 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015 2017 Relative Concentration of Power – Ruling Alliance vs. Opposition Alliance (RR2)-Rajya Sabha RR2 MEAN How Political Stability Affects Economic Growth in India 27 Global Journal of Management and Business Research Volume XXII Issue IV Version I Year 2022 ( ) B © 2022 Global Journals