'Tis the season of economic populism, and financial security has become the political currency of choice. In Bihar, the direct transfer of Rs 10,000 to more than 1.5 crore women worked squarely in Prime Minister Narendra Modi’s favour, helping the NDA return with a stronger mandate than in the previous Assembly elections.

Across the Atlantic, with midterms nearing and Republicans’ control of Congress at stake, President Donald Trump appears to be drawing from his "friend’s" playbook of economic welfarism.

TRUMP LOOKS TO MODI-STYLE DIRECT TRANSFERS

Trump has pitched a one-time $1,000 (Rs 88,500) deposit into a tax-deferred account that will track stock market indices. The accounts - controlled by a child’s parents or guardians - would be created for American babies born between late 2024

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