500 billion U.S. dollar will be needed for the general election of 2014 in India. It is about 30 thousand crore in Indian rupee. Election Commission is confused that this huge amount is one of the biggest challenges for this transparent election.
The parliamentary election of 2014 in India is going to be started on April 7. This 9 phased election will be ended on 12 May. Nearly 81 crore voters will vote for 543 public representatives. Chief Election Commissioner thinks that money power is a big obstacle problem in the affair and transparent election for this huge country like India. Electoral campaign will cost that amount of money, which will compete with the most expensive U.S. presidential election in the world. It is said that almost 700 million dollars was spent in the U.S. presidential election in the year of 2012. According to the prediction of Centre for Media Study, despite the shaky economy of India, 500 billion dollars or 30 thousand crore rupee will be spent as a record amount of money for this year’s elections in India. This amount is three times than the cost of 2009 elections.
The main cost is overwhelmingly used in the election campaign across the whole country. The election campaign means advertising, public meetings, transportation, bought votes in exchange for money, etc. Even media organizations are also given money to cover the rally of weightier candidates. BJP has already started their election campaign before the announcement of the schedule. BJP candidate Narendra Modi is campaigning for the party by his hired helicopter and plane.
Modi is campaigning more in those states which are traditionally anti-Modi party. In addition to the funds of the party, Modi is getting a sponsor from industrialists for his campaign. Seven-member committee headed by the former investment banker of Citibank in London has been formed to raise funds for Modi. Online fundraising campaign is going on from the Indian expatriates. On the other hand, it is a tough job to find out who is funding and how the finance is going on. It is needless to say that there is an important role of black money in the election campaign. All political parties of India have a similar look.
The Election Commission has set 70 lakh rupees for each parliamentary candidate for the election campaign. However, in reality, it is ten times larger. Election Commission has appointed some observers to prevent black money and money power for election expenses of political parties. How the huge cost of election can have an impact on India’s economy? Some economists believe that it will fall speed, to some extent, in the Indian economy. Add alcohol and motorbikes industry will be the most benefitted. Demand for these two elements is involved with the voting in India. However, this positive sign is temporary. It will last till the voting phase. The growth rate of current fiscal year is counted below 5 percent.
Meanwhile, vote war is becoming thrilling. Most of the teams are publishing their candidate list. Regarding the quality of the candidate list, the team is being rebelled and separated continuously. Negotiation of regrouping before and after the election is happening continuously. Formulas are being considered to build third front or federal front.