Winds of Change and Its Impact on India
India 2011-Winds of change and its impact on our lives.
In India, corruption is something we all learn to live with. We have been breast-beating over the sorry state of affairs from the times India marched on a Sovereign nation.
Why do I start my essay with a negative note of corruption? We need not be resigned to it or remain cynical about the issue.
The economy of India was under socialist-inspired policies for an entire generation from the 1950s until the late 1980s. The economy was characterized by extensive regulation, protectionism, and public ownership, policies vulnerable to pervasive corruption and slow growth. License Raj was often at the core of corruption. But where are we now?
The year 2011 has proved to be a watershed in the public tolerance of political corruption in India, with widespread public protests and movements led by social activists against corruption and for the return of illegal wealth stashed by politicians and businessmen in foreign banks over the six decades since independence. Political, bureaucratic, corporate and individual corruption in India are major concerns. A 2005 study conducted by Transparency International in India found that more than 45% of Indians had first-hand experience of paying bribes or influence peddling to get jobs done in public offices successfully.
Transparency International estimates that truckers pay US$5 billion in bribes annually. In 2010 India was ranked 87th out of 178 countries in Transparency International's Corruption Perceptions Index
India tops the list for black money in the entire world with almost US$1456 billion in Swiss banks (approximately USD 1.4 trillion) in the form of black money. According to the data provided by the Swiss Banking Association Report (2006), India has more black money than the rest of the world combined. Indian-owned Swiss bank account assets are worth 13 times the country’s national debt.
The organizers of Dandi March II in the United States said, “the
In India, corruption is something we all learn to live with. We have been breast-beating over the sorry state of affairs from the times India marched on a Sovereign nation.
Why do I start my essay with a negative note of corruption? We need not be resigned to it or remain cynical about the issue.
The economy of India was under socialist-inspired policies for an entire generation from the 1950s until the late 1980s. The economy was characterized by extensive regulation, protectionism, and public ownership, policies vulnerable to pervasive corruption and slow growth. License Raj was often at the core of corruption. But where are we now?
The year 2011 has proved to be a watershed in the public tolerance of political corruption in India, with widespread public protests and movements led by social activists against corruption and for the return of illegal wealth stashed by politicians and businessmen in foreign banks over the six decades since independence. Political, bureaucratic, corporate and individual corruption in India are major concerns. A 2005 study conducted by Transparency International in India found that more than 45% of Indians had first-hand experience of paying bribes or influence peddling to get jobs done in public offices successfully.
Transparency International estimates that truckers pay US$5 billion in bribes annually. In 2010 India was ranked 87th out of 178 countries in Transparency International's Corruption Perceptions Index
India tops the list for black money in the entire world with almost US$1456 billion in Swiss banks (approximately USD 1.4 trillion) in the form of black money. According to the data provided by the Swiss Banking Association Report (2006), India has more black money than the rest of the world combined. Indian-owned Swiss bank account assets are worth 13 times the country’s national debt.
The organizers of Dandi March II in the United States said, “the