Tycoon Plays a Big Role in the Feast of Indian Democracy – Indian tycoons play an important role in the democratic feast of the world’s largest population. Campaign funding to tacit support, has become a hot issue that continues to grow. The Prime Minister (PM) of India, Narendra Modi, received substantial funding support from investors. Observers view this as raising concerns about the integrity of the democratic process. On the other hand, the Congress Party leader, Rahul Gandhi, tried to take advantage of the fighter jet agreement that affirmed businessman Anil Ambani. Meanwhile, tycoons Vijay Mallya and Nirav Modi received support from the UK. Polls in India are increasingly expensive. Party candidates judged as sufficiently dependent on funding support from anonymous entrepreneurs. As a result, transparency is fairly minimal and thick with conflicts of interest. Analysts view the flow of traditional funds, for example from party membership, to continue to decline. As a result, the party increasingly relies on wealthy donors to fund the campaign. Data compiled by the Association for Democratic Reforms (ADR), the election watchdog, shows that in 2017-2018, companies and individuals contribute 12 times more to the BJP Party than the other six national parties, including the Congress Party.
The BJP Party has saving funds of 4.37 billion rupees, equivalent to US $ 63.3 million. Meanwhile, the Congress Party only saves funds of around 267 rupees. From there, reflected the relatively large disparity in funding in the elections. Indian business people seemed less enthusiastic about Modi’s nomination this time. Especially after the cancellation of high-value banknotes and the application of new tax policies that disrupt economic growth. However, they might still choose Narendra Modi, because they feared the victory of Gandhi’s coalition could stop the much-needed economic reforms.
Opposition accused the government of removing restrictions on company contributions two years ago. Then, introduce a funding scheme that given anonymously, through election bonds purchased from banks. There are some rumors that also mention the election fund came from the help of one of the local.
Last Friday, the Indian Supreme Court ordered a number of political parties to reveal the identity of donors. Exactly, after activists opposed the government bond system. Elections are increasingly expensive for various structural reasons. Population growth, increasing political competition, voter expectations persuaded in the form of cash, along with technological developments, making costs for media and digital outreach even greater. A number of tycoons are called not explicitly expressing support for political party candidates. They may be afraid of supporting the wrong horse.