Business of elections
A $ 7bn election; world’s costliest.
A $ 7bn election; world’s costliest.
Brief:
2019 Lok Sabha elections will be the world’s most costliest election. It will cost INR 50,000 crore.
2014 elections had cost INR 35,000 approx.
Though the official estimate for the elections was just Rs 7,000–8,000 crore, the study suggested that INR 27,000 crore was unaccounted cash.
Where does the money go?
Social media expenditure may be INR Rs 5,000cr. It was INR 250cr in 2014, reports Economic Times.
Travel expenditure consists of hiring business jets, helicopters and air charters. It costs INR 70,000 to INR 3,00,000 per hour to fly. In 2014 it cost INR 120 crores.
Advertising expenditure will be INR 2600cr. It was INR 1200cr in 2014.
How much an individual candidate can spend?
HT reports that a candidate can spend between Rs 50 lakh and Rs 70 lakh.
A candidate can spend a maximum of Rs 70 lakh on canvassing.
But, expenses incurred either by a party or the leader of a party for propagating the party’s programme are not covered.
How does it impact the economy?
It creates more employment.
It creates more unemployment.
Dig deeper: News 18’s series on funding