Indian Elections are often managed by the rich for the rich . In the last election in April -May 2019 , political parties in India spent an estimated 8.7 billion dollars . Where do these billions of dollars come ? There is more or less total lack of transparency in funding of political parties and election finance .
The biggest subversion of democracy in India is that only rich parties or rich candidates make the numbers to rule .The ruling party runs a corporate election machine that cost them about one billion dollars . The biggest problem is the total lack of accountability and transparency of political funding and the financial sources of political parties .
In fact huge election financing by big corporates and crony capitalist families are the mother of all systemic corruption in India . In return to their investment in ruling dispensations , they get huge tax benefits , special favours and also huge bank loans ..Many who defaulted billions of dollars of Bank loans ' contributed ' to the ruling political parties. As a result it is almost impossible for ordinary people to win an election unless they are sponsored by high networth individuals/companies or political parties financed by them.
In India democracy itself is hacked by the rich in search of unbridled profit . Elections have become an opportunity for corporate investment to get return from the ruling dispensation of the respective state and central government . That is indeed the tragedy of electoral democracy in this world .
No comments:
Post a Comment