“There’s a trend towards plutocracy,” Niranjan Sahoo, of the Observer Research Foundation think-tank, told AFP. “Unbridled corporate influence can have a serious impact on policies,” he added.
“ growing population, increasing political competition, voter expectations of handouts in the form of cash and other inducements, and technological change, which means greater outlays for media and digital outreach,” he added. “There is a huge funding disparity now. Congress simply doesn’t have the money to fight elections. That should worry people,” said the ORF’s Sahoo.
On Friday India’s supreme court ordered parties to reveal the identity of donors after activists challenged the bond system, which the government has defended. India’s richest man Mukesh Ambani – whose personal net worth has soared from US$18.6 billion when Modi came to power to US$53 billion today, according to Forbes – has repeatedly called him “our beloved prime minister” in speeches.
Source: Loan Digest (loandigest.net)
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