This will be the longest and the most expensive general election in the history of the country, with the Election Commission of India estimating that the election will cost the exchequer 35 billion (US$577 million), excluding the expenses incurred for security and individual political parties. Parties are expected to spend 30,500 crore (US$5 billion) in the election, according to the Centre for Media Studies. This is three times the amount spent in the previous election, and is the world's second highest after the US$7 billion spent on the 2012 US presidential election. Though unelected, incumbent Prime Minister Manmohan Singh has ruled himself out as a prime ministerial candidate.