41. Are there limits on the amount a candidate can spend?

"A candidate is not free to spend as much as he likes on his election. The law prescribes that the total election expenditure shall not exceed the maximum limit prescribed under Rule 90 of the Conduct of Election Rules, 1961. It would also amount to a corrupt practice under sec 123 (6) of R. P. Act, 1951."

Source: Election Commission of India, FAQs for Contesting Elecitons. 

The maximum limit of expensus for candidates is different betweem parliamentary and assembly elections. It also differs for some Indian states.