10 Nov

20 Facts about Corruption in India

20 Facts about Corruption in India
● The biggest drawback of the country which has the largest democracy in the world is not population but corruption.
● In 2013, India ranked 94 out of 177 countries in the Corruption Perception Index of Transparency International.
● Corruption is often strong in countries with the smallest per capita incomes. Sadly India is one of them having low per capita income.
● There is currently no exclusive legislation to check corruption in the private sector in India.
● The Indian economy suffered a loss of INR364 billion in just one year excluding some of the big scams like 2G, the Commonwealth Games and mining.
● Most corrupt sectors are Infrastructure, Real estate, Metal, Mining, Power and utilities & Aerospace.
● Pharma, Retail, Consumer products and education sector are found to be less corrupt sectors.
● Excessive regulations, complicated taxes and licensing systems, opaque bureaucracy, monopoly, and the lack of transparent laws and processes are some of the causes of corruption in India.
● India has US$1456 billion black money stored in Swiss banks (approximately USD 1.4 trillion).
● Because corruption is willfully hidden, it is impossible to measure directly; instead, proxies for corruption are used.
● In 2013 India has ranked 94th out of 177 countries in Transparency International’s Corruption Perceptions Index, tied with Benin, Colombia, Djibouti, Greece, Moldova, Mongolia, and Senegal.
● In the private sector, corruption increases the cost of business through the price of illicit payments themselves.
● In public sector, a big gap gets created as public investment is diverted to private profit and thus simplest process becomes complex.
● Giving gifts, meals, refreshments or travel, Funds spent on liaising and bonus payments are some of the hot tactics used in documentation by which the bribe is been hided.
● Big issues like poverty, education for all, construction, cleaning, unemployment etc continue to remain as issue and fails to climb the wall of corruption.
● More than 62% of Indians had given bribes to get jobs in public & private sectors and to get their work process faster, according to Transparency International in year 2005.
● Bharat Swabhiman Trust, India Against Corruption and ASTRA are some organizations that are fighting against corruption in India.
● The most creative step was taken by “5th Pillar” for the creation of the zero rupee note (to give to corrupt officials when they request bribes).
● Also Jaago Re! One Billion Votes, an organization founded by Tata Tea recently, are working on other social issues including corruption.
● Government of India’s RTI site, the Right to Information Act (2005) and equivalent acts in the states, have reduced corruption upto a level and opened a platform for grievances.

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