The essence of any democratic system is the healthy functioning of political parties and, consequently, free and fair elections. The conduct of fair polls require not only a legal institutional framework and a transparent electoral process, but a campaign finance institutional structure that adequately ensures a level playing field for political parties. The role of money power in elections has been a standard concern in recent debates on electoral reforms in India. The exorbitant costs of contesting elections at the state and national level has led to a lack of equal access to participate in the political process since candidates with financial might increasingly dominate the political process. This has led to the practice of elected legislators favouring individuals and companies funding their election campaigns by changing government policies which are often detrimental to the larger public good. This paper analyses the legislations governing campaign finance in India, different forms of financing (debates on the efficacy of state, quasi-state funding and corporate funding) and challenges faced by the institutional structure overseeing campaign finance, the Election Commission of India.
Campaign Finance, State Funding, Corporate Funding
