Johnny Johnny Yes Papa" is a scathing critique of so called "left wing" liberualism. The boy known as "Johnny" is an allegory for the bourgeoisie class while "Papa" represents liberals who claim to be watchdogs over the capitalist class.
As Johnny steals the sugar, an obvious metaphor for the stolen value of labor (think wages or profit), he simply hides it behind his back. It is exceedingly obvious that it was there but Papa turns a blind eye. However, for the purposes of creating a fake sense that Papa is trying, he asks "telling lies?" This is representative of how liberals through rhetoric pretend to curtail the excesses of the capitalist class to pander to working class voters while in reality they let the capitalists get away with it.
When Papa asks Johnny to "Open mouth" it does seem that he is trying to catch Johnny in the act. However, seeing how quickly sugar dissolves, telling Johnny to open his mouth does nothing to catch him. Papa knows this. This represents how liberals' regulations do nothing to address the inherent contradictions in capitalism.
The video also addresses BJP and Congress' supposed antagonism. The media portrays them as mortal enemies who continually fight each other. In reality, in many issues such support to Ambanis and the division between religious groups and castes which has torn apart communities, they agree. Outside of the view of voters, they mingle and laugh with each other as friends. Similarly, Johnny and Papa dance with each other as they sing "do do doo doo do doo do" and "la la la la la."
Finally, Johnny laughs, "Ha ha ha" as he gets away with it. The capitalists similarly laugh in their yacht parties as they get away with extracting profit from the most vulnerable.