Corruption in India

Topics: Economic growth, Economics, India Pages: 4 (1321 words) Published: September 13, 2011
"Corruption free government is not a necessary condition for rapid economic development. If the corporate and institutions work and uncertainty is checked, progress is possible". -S. Swaminathan Corruption in any form is treated as an incurable disease, a cause of many social and economical evils in the society and it damages the moral and ethical fibres of the civilization. Indisputably, it is correct that corruption breeds many evils in the society and once corruption starts taking place, slowly and gradually whole country passes through its net and it becomes after sometime an incurable disease. From the point of view of economic growth, there seems to be no clear cut correlation between corruption and the economic growth of a country. There may be presence of some social maladies like inequality of income among the people, moral degradation of people due to the prevalence of corruption, but the parameters of economic growth which are taken on percentage or an average basis are entirely different. can find several countries having corrupt regime but yielding excellent economic results and other countries with clean regime showing very poor results in terms of economic prosperity and growth. Transparency International publishes every year lists ranking corruption in various countries. It has just come up with a list of the 10 most corrupt rulers; According to reasonably authoritative local estimates," Numerous Uno is Indonesia's 'Suharto' who is estimated to have skimmed off $15-35 billion. He is followed by the Philippines Marcos ($ 5-10 billion), Zaire's Mobutu ($ 5 billion), Nigeria's Abacha ($ 2-5 billion), Serbia's Milosevic ($ 1 billion), Haiti's Duvalier ($ 300-800 million), Peru's Fujimori ($ 600 million), Ukraine's Lazarenko ($ 114-200 million), Nicaragua’s Alemai ($ 100 million) and the Philippines Estrada ($ 78-80 million). This list is neither complete nor exhaustive. Saddam Hussein and his cronies might...
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