— This is the script of CNBC's news report for China's CCTV on April 9, Wednesday.
Welcome to the CNBC Business Daily.
Indonesia kicks off its parliamentary elections today... and it looks like a pretty crowded race.
12 parties... 560 seats.
The man to watch? Joko Widodo.
Early polls suggest his party, the PDI-P, could come out on top.
This is how one analyst sees a Jokowi win impacting the economy.
[STEVE WILFORD, Asia Pacific Director for Global Risk Analysis, Control Risks Group in Singapore] "What he brings to the table is a much more domestically focused, more micro focused agenda. And that's kind of going to shift the electoral game away from the broad brush resource nationalism that we've seen from some of the other candidates to having to compete on a more granular level with Jokowi's good governance."
From Indonesia to India, where Inflation is likely to be a key issue in general elections there.
Sri Jegarajah explains.
Inflation's down but not out.
Good news for the embattled Congress Party-led government ahead of elections.
But little relief for these consumers at South Mumbai's largest fresh produce market. They fear prices could spike just as quickly if a prolonged drought or heavy monsoon rain cuts agricultural output.
The price of the humble onion, a staple of indian cooking, has stabilized at 20 rupees a kilo from about four times as much in January. But managing volatile food costs will be a challenge for whoever's elected.
"It is definitely an election issue. But the way that prices have increased earlier, now they have stabilized, but still they are above comfort levels for a normal man. I do hope whoever comes to power, will bring down prices in such a manner that one should give a sigh of relief to that."
Economists say central bank governor Raguram Rajan's strategy to control inflation by tightening monetary policy has paid off. But major structural work still needs to be done.
Parts of india's sprawling rail network dates back to its colonial era and those infrastructure bottlenecks have kept inflation high.
An ambitious infrastructure renewal program is a center-piece of the opposition BJP's manifesto. And if implemented decisively, could reduce inflation materially over the longer term.
[Siddhartha Sanyal, Chief India Economist, Barclays] "The whole process of inflation, there is an element of infrastructure upliftment, but at the same time, if there is very and able admininstrative measures, that can also help a lot."
India's central bank has done its part to bring inflation down. Now it's over to the next government.
Sri Jegarajah, CNBC in Mumbai.
And that wraps up this edition of the Business Daily.
I'm Julia Wood, reporting from CNBC's Asian headquarters.
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