India’s election could be the world’s most expensive
Big Indian companies have been buying “electoral bonds”, mostly for Narendra Modi’s ruling party
Ask which of this year’s many elections will be the most expensive, and most people would say America’s. They could well be wrong. India’s most recent general election, in 2019, was already the most costly at the time by some estimates, with campaign spending conservatively put at $8.5bn. America’s presidential poll the next year exceeded that. But India’s parliamentary vote this spring will be much dearer and could exceed the $10bn-16bn that is likely to be splurged on the White House race.
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This article appeared in the Asia section of the print edition under the headline “That’ll cost you”
From the March 23rd 2024 edition
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