Corruption and the Indian Economy

Berojgaar News By Berojgaar News, 31st Oct 2013 | Follow this author | RSS Feed
Posted in Wikinut>News>Crime

Therefore, strong, honest leadership is crucial to fighting corruption and improving the lives of the ordinary man, and this needs to be entrenched from local, states up-to the national level. The police I must say needs thorough cleansing from corrupt practices so they can be able to enforce sanity in processes.

Corruption and the Indian Economy

In many countries, corruption can be seen everywhere and we are left to think if the act is legal or illegal, leading many people to accept corruption as a way of life. Like having to pay a hundred rupees to the police just to give you a legal document which was suppose to be their normal assigned duty. We seem to now perceive corruption as “just the way things are in the country”? That means a normal part of life. But what do we mean by corruption?

The World Bank Simply defines corruption as the misuse of public property for private gain. It ranges from embezzlement of public money to abuse of power (e.g. asking for bribes).

Corruption is a wide term describing different misuse of position, power, and entrusted funds for private gain e.g. theft, fraud, bribes, and extortion.

The cause of corruption may differ according to needs, culture or maybe just an opportunity too tempting not to exploit but generally influences the economy of a nation. Generally corruption is not confined to the business or political circles. Even in our cultural traditional and other religious shrines in India, we have long been involved in corrupt practices

Corruption in India affects virtually every transaction of any size, domestic and external and Just like the saying;

“The more the corruption, the slower the economic growth”

Not only does corruption in India worsen poverty, it also drags the whole country’s development down by stealing its resources. When for example about 805% of public money doesn’t go to the poor! It surely goes somewhere? Thereby increasing inflation (it's a general effect of it). And then... more, unemployment, more poverty and of course more crimes.

India had a booming economy some years back especially from the 2000s, and it indicated India was on the fast track to becoming a developed nation. However, recent slow back turn and changes in growth has not only kept so many of us doubtful but has also directed the beam on how wide spread corruption helps in pulling the economy backwards. So many scandals in the telecommunications industry, the coal mining industry and other sectors of the economy have been exposed in the past few years, bringing much more criticism on the Indian government and its sincerity in tackling this problem. Billions of Rupees (in-dollars) of tax-payers revenue have vanished as a result of such corruption and many fear that there is even much more not known by the general public! News and reports indirectly and sometimes head-on, indicates that as much as almost half or maybe more of government’s budgeted money intended for the well being of ordinary Indians and other welfare programs including subsidies ends up in the pockets of some hidden smoke-screen politicians, bureaucrats, and influential businessmen instead. India having an estimated over 600 million people living below the poverty line, and about 250-300 million living without electricity, with 60-to-65 percent of the entire population under the age of 35years of age lacking marketable entrepreneur skills, India cannot afford to waste any of its resources if it wants to improve the welfare of its citizens.

As the case with many corrupt developing nations, India’s corruption scandals, it seems have been deeply entrenched in the bureaucratic and political system for decades. Many governments from the 1970s to now have failed to seriously face and tackle corruption. This basically has to do with the fact that those that finance elections and have a big hold on economic activities also have some hands in corruption related activities. Politicians and bureaucrats in India have certainly accumulated a great deal of private wealth, mostly deposited, untaxed, in overseas accounts, which eventually results in a significant loss of big revenue for India, with some estimates showing billions in taxable income and profits being laundered out of the country over the past decade. This loss of revenue largely affects any developing nation’s economy. Those involved in these kinds of illegal activities launder the money out of India and then they later sometimes come back into India in disguise through fake NGO’s projects e.t.c or to fund election campaigns.

The national government has been unable to adequately fund many of its welfare programs due to less availability of enough funds; however, several states have managed to independently reduce some corruption and implement innovative programs that have improved people’s standard of living. These successes at some state levels are encouraging signs that real change in India is happening, but much more needs to be done on corruption especially in governmental activities as this has been a helping hand in devaluating the Indian going down and out in recent times.

The system in India will keep getting better so long as we get the right people to lead our affairs. India already has fantastic human resources, despite politicians influencing and ensuring their financial backers are given high government positions, rather than well-trained bureaucrats. Consequently, in order for the entire nation to experience progress as a whole, strong leadership needs to be emphasized not just at the national level but in all sectors of the economy, because most of the time, we get leaders that are very honest people but some sub-ordinates and mostly their political sponsors been very corrupt thereby making the leaders impotent or unable to have the strength and courage to tackle corruption head on.

Therefore, strong, honest leadership is crucial to fighting corruption and improving the lives of the ordinary man, and this needs to be entrenched from local, states up-to the national level. The police I must say needs thorough cleansing from corrupt practices so they can be able to enforce sanity in processes. These also include standing and fighting corruption in all government departments where corruption has been rooted from customs, police, revenue collection, railways, public works and agencies in charge of licenses and permits and the justice system.

The majorities of people of India have always shown their will and support most of the times to leaders who fight corruption, so it is time for the national government to stand against those who want to steal from the country and instead stand with the people.

Tags

Corrupt Officials, Corrupt Politicians, Corrupt Regimes, Corrupt Rulers, Corruption, Corruption And India, Corruption In India, Corruption Indicators, Corruption Of Goverment, Corruption Of Media, Corruption Perception Index, Corruptions, Corrution Of Power

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Comments

author avatar Shivani
19th Mar 2014 (#)

tell us more about corruption

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author avatar Shivani
19th Mar 2014 (#)

tell us about the recent corruption............

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