We investigate coarsening dynamics in the two-dimensional (2D), incompressible Toner-Tu equation. We show that coarsening proceeds via a vortex merger events, and the dynamics crucially depend on the Reynolds number (Re). For low Re, the coarsening process has similarities with Ginzburg-Landau dynamics. On the other hand, for high Reynolds number, coarsening shows signatures of turbulence. In particular, we show the presence of an enstrophy cascade from the inter-vortex separation scale to the dissipation scale.