The role of social media platforms in information sharing and consumption has evolved over the years. Platforms such as Facebook, Instagram, YouTube, and WhatsApp have fundamentally changed the political landscape in unprecedented ways. In 2024, elections were held in more than 60 countries worldwide, including general elections in India. Mainstream media (newspapers, radio, and television) in India is still a source of news and information, but social media is rapidly replacing it as the primary news source. Many studies have revealed that misinformation and fake news significantly impact electoral behaviour. The use of social media news directly affects offline political engagement and indirectly influences online political participation. One of the main aims of this study is to evaluate the evolving role of social media platforms in the 2019 and 2024 Indian General Elections. This study employed a qualitative research design using in-depth interviews with media professionals (12 interviews) to investigate the evolving role of social media platforms in the dissemination of misinformation during these elections. These professionals came from diverse organizational backgrounds, including academia, fact-checking, PR, journalism, and artificial intelligence (AI). Thematic analysis using grounded theory principles was employed to analyze the interviews to identify emerging patterns and themes. The study found that dependence on social media platforms (multiple sources) has increased for news and information in recent years. However, the volume of hate speech on the issues of religion, community, and individual targeting has increased between 2019 and 2024. The use of AI has also emerged in the 2024 general elections for content manipulation and fabrications. However, the study observed that fact-checking organizations and regulatory bodies made many efforts to combat misinformation and fake news. Therefore, this study attempts to analyze the evolving role of social media platforms in contemporary political scenarios.