AAP will have to find a balance between populist measures & growth: V Balakrishnan

A day after becoming a member of the Aam Aadmi Party, former Infosys board member V Balakrishnan said it was too early to talk about his role but that he would to help the party. In an interview to ET NOW, he also said AAP would eventually find a balance between populist measures and growth, in response to a question on whether the party’s schemes have been lacking in fiscal prudence.

When asked about when he would sport the AAP cap, Balakrishnan said, “It is too early. I just became a member online. Too much hype has been created.”

He also brushed aside rumours of him contesting elections, stating that, “People are talking about contesting elections. Those things have been greatly exaggerated.” He further said that he currently wasn’t in conversation with any of the leaders of AAP. He added that the reaction from family and former colleagues of Infosys was overwhelming and surprising.

AAP’s giveaways in terms of water and power subsidies have come in for sharp criticism, with experts stating that it would drain fiscal resources. When asked about this, Balakrishnan said, “Finally, all political parties have to find a balance between populist measures and economic growth that will support those populist measures. So, I think somewhere the balance will happen.”

He refused to however comment on what role he would play in the party or on whether it would more of an advisory role. Balakrishnan further said that his AAP membership would not hamper his venture capital plans in any way.

Last month, Balakrishnan had said that he would focus on mentoring young entrepreneurs as a venture capitalist, after stepping down from Infosys. He, along with software industry veterans such as Mohandas Pai, Girish Paranjpe and Deepak Ghaisas, recently floated a fund called 'Exfinity' to invest in technology startups in India.

“Venture capital is my first love. That will continue. I will also be helping the Aam Aadmi Party being a member. I don’t know what role I will play, it’s too early to say.” He also brushed aside a question on whether he will donate money to the party going forward.

The decision by Balakrishnan, 48, to join AAP is the latest example of the allure the upstart political party with its anti-corruption platform has among professionals who are vexed with the state of governance in India. Just a few days ago, Adarsh Shastri, the grandson of former PM Lal Bahadur Shastri, quit his job at Apple to join AAP.

India's newest party has its origins in the India Against Corruption movement led by activists Anna Hazare and Arvind Kejriwal. The movement's main demand was a strong Lokpal Bill creating an anti-corruption ombudsman. AAP was officially launched as a party a year ago and it swept to power in Delhi in its debut election last month.