Well, you have a 20 crore salary cap, which, unlike the MLS and A-League, is payed for by the teams, not the league, and then you have other things like travel, facilities, coaches etc so it could amount to 40 crore a year.
Also wonder if this total amount (since it is 9 years) takes into account the potential for expansion of the league.
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http://m.goal.com/s/en-india/news/222/transfer-zone/2015/09/13/15293162/indian-super-league-east-bengals-rahul-bheke-joins-kerala