In a seismic shift for American urban politics, 33-year-old democratic, so-called socialist Zohran Kwame Mamdani has clinched the Democratic nomination for New York City mayor, defeating former Governor Andrew Cuomo. People are comparing his platform to the controversial welfare model of Delhi’s former Chief Minister Arvind Kejriwal.
The freebie revolution: Mamdani’s unapologetic welfare platform
Mamdani’s platform dubbed “The People’s New Deal” centers on radical affordability measures which are in fact ‘unworkable freebies’. These include:
• Universal Rent Control: Expansion of rent stabilization to cover 1 million apartments, with powers to freeze increases.
• City-Run Grocery Stores: A public network selling staples at cost to combat food inflation.
• $1 Public Transtit: Slashing subway and bus fares to a flat dollar, funded by new taxes on corporations and the ultra-wealthy.
• ”Green New Deal for Housing”: Taxing vacant luxury properties to fund social housing.
Wall Street and business leaders warn these policies could cripple the city’s economy. Philippe Laffont of Coatue Management predicted a “wealthy exodus” to low-tax states, while hedge fund titan Bill Ackman admitted feeling “depressed” by the win. Shares of NYC real estate firms like SL Green and Vornado plummeted 6–7% within hours of his victory.
Mamdani & Kejriwal: Welfare populism across continents
Zohran Mamdani’s platform mirrors Arvind Kejriwal’s policies in key areas: proposing free utilities (broadband vs. electricity/water) for low-income residents and using similar populist branding (“Redistribute billionaire greed” vs. “Common Man’s Party”).
However, their funding differs sharply (Mamdani: taxes on finance/luxury; Kejriwal: subsidies later marred by corruption).
Crucially, both faced intense elite backlash, labelled as economically destructive (“Suicide by Mayor”/”Revdi culture”). This shows welfare populism’s global adaptability and shared critiques over feasibility.
Outsider to nominee: How Mamdani toppled Cuomo
Mamdani’s ascent from a little-known state assembl ymember to mayoral nominee is a masterclass in progressive mobilization:
• Cost of living Fury: He tapped into voter anguish over inflation, framing Cuomo as an out-of-touch relic. “Cost of living is the issue of our time,” noted Democratic strategist Neera Tanden.
• Generational Warfare: At 33, Mamdani contrasted sharply with 67-year-old Cuomo, whose sexual harassment scandals and establishment ties alienated younger voters.
• Digital Savagery: Viral video campaigns mocking Cuomo’s billionaire donors and promoting “tax the rich” memes outflanked traditional advertising.
• Coalition of so called marginalized: Muslim, immigrant, and youth voters rallied behind his unapologetic support for Palestine and immigrant rights.
Cuomo, backed by Bill Clinton and Wall Street heavyweights like Michael Bloomberg, spent over $8 million but failed to counter Mamdani’s narrative of “people vs. plutocrats”.
The Kejriwal connection: Global populism’s new Face
Mamdani’s platform drew immediate comparisons to Arvind Kejriwal, Delhi’s former Chief Minister, who pioneered free utilities and education but faces corruption charges. Kejriwal himself tweeted, “Free ki revri reached the US,” after Donald Trump mimicked his electricity-subsidy rhetoric. Yet critics warn Mamdani risks repeating Kejriwal’s pitfalls:
• Sustainability Fears: Economists question funding sources for universal programs. Delhi’s free electricity strained public coffers, enabling graft allegations.
• Polarizing Baklash: Mamdani faces vitriol from Hindu Indian-Americans who brand him a “jihadi” for participating in a rally organized by anti India and pro Khalistani elements in New York in 2020. Where they abused Hindus called them bastards.
Zohran Mamdani participated in the Anti Hindu rally Organized by Jihadis and Khalistani elements in New York in 2020. Where they abused Hindus called b*stard can say a casual Hindu Genocide call were given in the rally. Mamdani even spoke in this Anti Hindu rally.
— Ganesh (@me_ganesh14) June 25, 2025
2/n pic.twitter.com/GeVM08zp0y
Wall Street’s cold sweat
Finance elites foresee a dystopia:
• Wealth Flight: Fears of new taxes on passive income and financial transactions could accelerate relocations to Miami and Texas.
• Real Estate Collapse: Rent controls threaten profits for landlords; REITs are already tanking.
• ”Hot Commie Summer”: Hedge fund CEO Dan Loeb’s sarcastic social media post captured Wall Street’s despair.
What’s next
Mamdani enters November’s general election favored against Republican Curtis Sliwa and independent incumbent Eric Adams.
But his true test lies in reconciling utopian promises with governance realities a challenge Kejriwal’s AAP ultimately faltered against in Delhi after initial success. As democratic socialism’s star rises, New York becomes the laboratory for a global experiment.
