Has Corruption Haunted India’s Growth ?

Though India has been hailed as a rising economic agency in recent times, attracting FDIs (Foreign Direct Investments) from all over the world, the fork up is not very rosy. The rampant depravity prevailing in the country in all the spheres is posing a nemesis to Indias growth story. As corruption is directly relate to the economy, it can have disastrous effect on Indias economy. S lower growth means the fight against poverty allow for slow as number of jobs will be reduced. fit in to a report India tops the list of black cash in the entire world with almost US$$1456 million in Swiss bank. However 80%of Indians earns less than Rs 5 per day. Alleged tax evader Hasan Ali Khan (supposedly an associate of gangster Dawood Ibrahim) allegedly illicitly placed US$8 billion in UBS AB Zurich bank. In his short tenure, Madhu Koda, the then chief government minister of Jharkhand allegedly siphoned off about US$1 billion. In 2011, India ranked 95th of of183 countries in transparency international corruption perception index. The major reason behind Indias low scoring is big corruption scandals, like the Commonwealth Games and the 2G telecom scam.
Corruption has destabilized Indias growth and will continue to do so unless some strict action is taken.



Private investments in India are slowing down due to corruption preponderating in the country. Some of the foreign companies as well as India have shifted their bases outside India or are planning to go out. Inflation has to a fault become a major difficulty even after RBI has raised interest some(prenominal) times to curb it. In the recent 2G telecom scam, Indias loss is estimated to be approximately US$39 billion. Unless the markets get hold of the required assurance that allocation of funds will be swift, efficient and fair, the process of investment will be slow. Politicians should also take responsibility in checking corruption in pasture to avoid debacle like Enron the power sector in Maharashtra. The project which was not deemed economic viable by the...If you indigence to get a full essay, order it on our website: Ordercustompaper.com



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