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By Kent Cooper Posted at 7:33 a.m. on May 7, 2014
The current elections in India have brought a tsunami of political money from private firms that now can give an unlimited amount of money to political parties – in exchange for disclosing what they have donated.
A new article in The Economist, “Black Money Power,” highlights the changes brought about by a new legal framework in January 2013, that permits India’s largest industrial houses to use electoral trusts.
Campaigns for seats in India’s parliament and state assemblies are estimated to cost about $4.9 billion. They would rank second in the world to America’s 2012 $6 billion cost.
To search detailed money-in-politics databases, visit Political MoneyLine.
Political MoneyLine is about following money in politics. It's a cash register for givers, receivers and those who want to watch the flow.
Kent Cooper has been uncovering and counting political money since 1972, when new disclosure laws took effect. He was assistant staff director for the Federal Election Commission's disclosure office for 22 years.
Tony Raymond was at the FEC for more than 20 years, analyzing reports and serving as the FEC's first webmaster.