IF Elections Preferred were a bond floated on the stockmarket today, it would sink without a trace. Yet, as the events of the past fortnight clearly dictate, an inexorable march towards political meltdown, ie elections, seems imminent. So the brave-words-brigade in each party is in the fore. But there is also an accompanying sotto voce campaign to the effect that it would be 'near-criminal' to spend Rs 500 crore of taxpayers' money within two years of the last poll. The common refrain among MPs—regardless of party affiliation—is: "We haven't had the time to do anything for our constituencies, we were elected for five years." But the basic reason for Indian legislators displaying a previously hidden coyness about placing their fate in the hands of the "sagacity of the Indian voter" has everything to do with party affiliations and the uncertain political firmament.