In the last five years, the largest loss in history was recorded in the stock market in October 2024 to the tune of 37 lakh crore as per media reports. Before this, in March 2020, small investors lost around 33 lakh crore during the Corona period.
Punjab's Panthic political space is now more fragmented than at any point in recent memory. The Shiromani Akali Dal is trying to stage a comeback, “Waris Punjab De” is energising sections of Sikh youth, Punar Surjit continues to hold its ideological ground, and multiple rebel Akali factions are fighting for relevance. But this growing division raises a brutal political question if every Panthic group claims to be the true voice of Punjab, why does the Panthic vote keep getting weaker with every election ? Has the battle to replace the Akali Dal become so intense that it is helping AAP, Congress and BJP more than any Panthic force itself ? And as 2027 approaches, will Punjab witness the revival of Panthic politics, or the election where its endless fragmentation finally turns it into a permanent minority in its own political space ?
पंजाब की पंथक राजनीति शायद अपने सबसे बिखरे हुए दौर से गुजर रही है। शिरोमणि अकाली दल वापसी की कोशिश में है, "वारिस पंजाब दे" सिख युवाओं के एक वर्ग को आकर्षित कर रहा है, पुनर सुरजीत अपनी वैचारिक पहचान बनाए रखने की कोशिश कर रहा है, और कई अन्य अकाली गुट राजनीतिक प्रासंगिकता के लिए संघर्ष कर रहे हैं। लेकिन इस बढ़ती बिखराव की राजनीति ने एक बड़ा और असहज सवाल खड़ा कर दिया है अगर हर पंथक दल खुद को पंजाब की असली आवाज़ बताता है, तो फिर हर चुनाव के साथ पंथक वोट और कमजोर क्यों होता जा रहा है ? क्या अकाली दल की जगह लेने की लड़ाई इतनी तीखी हो चुकी है कि उसका फायदा 'आप', कांग्रेस और भाजपा को ज्यादा मिल रहा है ? और 2027 में क्या पंजाब पंथक राजनीति की वापसी देखेगा, या फिर यह वह चुनाव साबित होगा जहां लगातार बंटवारा उसे अपनी ही राजनीतिक जमीन पर स्थायी रूप से कमजोर बना देगा ?
Sukhbir Singh Badal has declared that "no force can defeat the Akali Dal" and has begun strengthening the party's organisation by appointing women leaders across dozens of Assembly constituencies ahead of 2027. The confidence is unmistakable. But it also raises a pointed question if the Akali Dal is truly unbeatable, why is it still rebuilding booth by booth, wing by wing and constituency by constituency after suffering some of the worst electoral setbacks in its history ? Is this the confidence of a party preparing for a comeback, or the determination of a party that knows it still has a long road back to power ? And after years of claiming that external forces weakened the party, will 2027 finally answer a tougher question, was the Akali Dal defeated by its opponents, or by its own mistakes ?
