Arguments in favour of democracy:
1. It ensures political participation and representation of all the citizens of the country.
2. It promotes the concept of equality among all citizens, irrespective of their social and economic backgrounds.
3. It allows people to choose their own representatives and government.
4. It gives everyone the right to criticize and oppose the government's policies and decisions.
5. It prevents any kind of tyranny or dictatorship and allows people to enjoy political freedom.

Arguments against democracy:
1. It can lead to the rise of populist politicians and the erosion of civil liberties.
2. It can result in instability without proper checks and balances in place.
3. It can lead to the concentration of power within certain groups or interests, leading to unequal representation.
4. In some cases, it can lead to majoritarianism, which can be detrimental to minority voices.
5. It requires a literate society and can lead to voter apathy in less educated populations.