Challenges of Financial Inequality and Government Abuse of Power in India

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The chapter explores the financial disparities between the ruling party and the opposition in India, focusing on corporate donations through election bonds. It discusses how the incumbent government leverages its power over investigative agencies and tax authorities to weaken the opposition. The conversation also delves into the impact of authoritarianism, misuse of laws like the Prevention of Money Laundering Act, the importance of a viable opposition, and the influence of political ideologies in India's elections.

Across the world, billions of citizens are being asked to cast their vote in elections taking place in more than 50 countries and in many places, populist, illiberal and far-right parties are either growing in support or consolidating gains they have already made. But India, the world’s biggest democracy, bucked the trend with Narendra Modi’s relatively weak election victory in June. In the third of this five-part series, the FT’s renowned economics commentator, Martin Wolf, and Raghuram Rajan, former governor of the Reserve Bank of India, discuss the Indian election results and inherent weaknesses of authoritarian styles of government.

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Martin Wolf column: Fascism has changed, but it is not dead

For Martin’s other FT columns click here

This episode is presented by Martin Wolf. The producer is Sandra Kanthal. Production help from Sonja Hutson. The executive producer is Manuela Saragosa and the sound engineer is Nigel Appleton. The FT's global head of audio is Cheryl Brumley.

Read a transcript of this episode on FT.com

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