The following all have background analysis of the Indian election system. You can download full text papers, report and comment for free!
Amnesty International - India
background information on human rights.
Asia House (UK) comment and events relating to the elections.
Asian Human Rights Commission
Carnegie Endowment has a special project India decides which has background guides and indepth coverage.
Council on Foreign Relations - US think tank considers impact on US and other regional foreign policies.
Human Rights Watch
India @LSE blog has discussion of the elections.
Kings College London has an online discussion of the count down to the elections.