The 2024 Lok Sabha Election in India is set to become the most expensive electoral event globally, with an estimated total expenditure of Rs 1.35 lakh crore. This record-breaking spending highlights the immense financial resources being deployed by political parties across the spectrum, including the ruling BJP, the opposition Congress, and regional parties like the Samajwadi Party.
### Key Points of Expenditure:
1. **Cost per Vote**: According to the Centre for Media Studies, the cost of securing a single vote has reached Rs. 1,400.
2. **Historical Context**: The expenditure for the 2024 elections marks a significant increase from the Rs. 55,000-60,000 crore spent in the 2019 elections. This represents a nearly 100% jump in election spending over five years.
3. **Comparison with Global Elections**: The estimated expenditure surpasses the spending in the 2020 US elections, which stood at Rs 1.2 lakh crore.
### Spending Limits and Observations:
1. **Expenditure Limits**: The Election Commission of India (ECI) sets spending limits for candidates:
  - **MPs**: Up to Rs 95 lakhs.
  - **MLAs**: Between Rs 28 lakhs and Rs 40 lakhs, varying by state.
  - **Smaller States**: Limits are slightly lower, e.g., Arunachal Pradesh has a cap of Rs 75 lakhs for MPs and Rs 28 lakhs for MLAs.
2. **Historical Increase**: In the first general election in 1951-52, the spending limit was Rs 25,000, compared to the current Rs 75-95 lakhs, reflecting a 300-fold increase. Overall election expenditure has increased sixfold from Rs 9,000 crore in 1998 to about Rs 55,000 crore in 2019.
### Unaccounted Expenditure:
- Despite measures to monitor spending, a significant portion of election expenditure remains unaccounted for, including under-the-table giveaways like gifts, cash, and gold, which are intended to influence voter behavior.
### Transparency Measures:
- **Contribution Reports**: Political parties are required to submit annual reports to the ECI detailing contributions above Rs 20,000.
- **Annual Audited Accounts**: Parties must also submit their audited accounts and election expenditure reports within 75 days post-election.
- **Publication of Reports**: The ECI publishes these reports on its website to promote transparency.
### Election Timeline:
- **Phases**: The 2024 Lok Sabha Election was conducted in seven phases, starting on April 19 and concluding on June 1.
- **Results**: The final results will be declared on June 4.
### Conclusion:
The 2024 Lok Sabha Election's staggering expenditure underscores the high stakes and intense competition among political parties in India. Despite regulatory measures to ensure transparency and accountability, much of the election spending remains opaque, highlighting the challenges in curbing financial excesses in the world's largest democracy. The outcome of the elections, coupled with the financial strategies employed, will have significant implications for India's political and economic landscape.
