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    Corruption Free India For A Developed Nation

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    ravinder gusain
    Corruption leads to losses for India in several ways: it distorts market incentives and misallocates resources, acts as an inefficient tax on business that raises costs and reduces profits, and decreases productivity by reducing quality of services like health and education. This undermines India's tax structure and revenue collection, hampers firms' growth and efficiency, and is estimated to cost India over $50 billion annually in lost investment, growth, and jobs. To develop as a nation, India must urgently reform its institutions and end the culture of rent-seeking and cutting corners to allow its economy to progress smoothly without being hindered by corruption.

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    Corruption Free India For A Developed Nation

    Uploaded by

    ravinder gusain
    40 views2 pages
    Corruption leads to losses for India in several ways: it distorts market incentives and misallocates resources, acts as an inefficient tax on business that raises costs and reduces profits, and decreases productivity by reducing quality of services like health and education. This undermines India's tax structure and revenue collection, hampers firms' growth and efficiency, and is estimated to cost India over $50 billion annually in lost investment, growth, and jobs. To develop as a nation, India must urgently reform its institutions and end the culture of rent-seeking and cutting corners to allow its economy to progress smoothly without being hindered by corruption.

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    Corruption Free India for a Developed Nation

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    Corruption leads to losses for India in several ways: it distorts market incentives and misallocates resources, acts as an inefficient tax on business that raises costs and reduces profits, and decreases productivity by reducing quality of services like health and education. This undermines India's tax structure and revenue collection, hampers firms' growth and efficiency, and is estimated to cost India over $50 billion annually in lost investment, growth, and jobs. To develop as a nation, India must urgently reform its institutions and end the culture of rent-seeking and cutting corners to allow its economy to progress smoothly without being hindered by corruption.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    40 views2 pages

    Corruption Free India For A Developed Nation

    Uploaded by

    ravinder gusain
    Corruption leads to losses for India in several ways: it distorts market incentives and misallocates resources, acts as an inefficient tax on business that raises costs and reduces profits, and decreases productivity by reducing quality of services like health and education. This undermines India's tax structure and revenue collection, hampers firms' growth and efficiency, and is estimated to cost India over $50 billion annually in lost investment, growth, and jobs. To develop as a nation, India must urgently reform its institutions and end the culture of rent-seeking and cutting corners to allow its economy to progress smoothly without being hindered by corruption.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    Corruption Free India for a Developed Nation

    “I won’t allow anyone to walk through my mind with their dirty feet” – Mahatma
    Gandhi
    Corruption can be defined as dishonest and fraudulent conduct by those in power,
    especially involving money. To elaborate, it is the misuse of power or money to obtain
    resources or services through illegal means. It is one of the most debated topics in the
    society as it has widened the gap between the rich and the poor. Corruption leads to
    concentration of resources in the hands of the rich and powerful, leaving the poor
    hopeless and helpless. The advent of industrialisation and urbanization has led to the
    outbreak in mass production causing concentration of power in hands of few, leading to
    exploitation of the masses. The wide range of corruption, from cases of petty bribery to
    large mega scams have degraded our resources and made India one of the most corrupt
    nations today.
    It has been a long-standing problem that successive Governments have battled and
    mostly failed to quell. In his magnum opus ‘Arthashastra’, written nearly three centuries
    before the Christian era, Kautilya, the classical master of statecraft, observed: “Just as it
    is impossible to know when a fish moving in water is drinking it, so it is
    impossible to find out when Government servants in charge of undertakings
    misappropriate money.” Corruption has become a matter of concern because of its
    negative consequences. Corruption is anti-poor. In a country where 26% of the
    population is below the poverty line, corruption hits the poor very badly. The need of
    the hour is to believe that even a country like India can be free from the perennial trap
    of corruption and move ahead.
    How Corruption leads to Losses for the Nation as a whole
    “Out of one rupee spent by the government for welfare of the downtrodden, only
    15 paisa thereof actually reaches those persons for whom it is meant” – Rajiv
    Gandhi, Former PM
    The single statement delivered by Our Ex PM is strong enough to make us understand
    what could have been the reason for the slow growth of our country and the economic
    disparities and deprivations which we see in our country.
    Corruption distorts incentives and market forces, leading to the misallocation of
    resources.
    Corruption acts as an inefficient tax on business, ultimately raising production costs and
    reducing the profitability of investments.
    Corruption may also decrease the productivity of investments by reducing the quality of
    resources. For example, by undermining the quality and quantity of health and
    education services, corruption decreases a country’s human capital. Rent-seeking
    behaviour is also likely to create inefficiencies, fuelling waste of resources and
    undermining the efficiency of public expenditure.
    Corruption undermines a country’s tax structure and its revenue collection capacity,
    affects firms’ growth, productivity, investment patterns, and efficiency. 
    If corruption levels in India were decreased to levels in developed economies such as
    Singapore or the United Kingdom, India's GDP growth rate could increase at a higher
    rate annually. C. K. Prahalad, the famous economist estimates the loss of opportunity
    caused by corruption in terms of investment, growth and jobs for India is over US$50
    billion a year.
    Conclusion

    “If a country is to be corruption free and become a nation of beautiful minds, I strongly
    feel there are three key societal members who can make a difference. They are the
    father, the mother and the teacher” – Dr. A P J Abdul Kalam

    Preventing corruption unlocks progress towards the Sustainable Development


    Goals, helps protect our planet, creates jobs, achieves gender equality, and secures
    wider access to essential services such as healthcare and education, removes the
    economic inequalities and better allocation of resources.

    Our country needs to urgently modernise its institutions and end the culture of rent-
    seeking and cutting corners if it wants the wheel of its economy to roll seamlessly.
    Corruption is both anti-national and anti-poor because the resources meant for
    poverty alleviation schemes get siphoned off by dishonest politicians and bureaucrats. It
    is among the most debilitating economic illnesses that afflict large parts of the world.
    Corruption is the enemy of development, and of good governance. It must be got rid of.
    Both the government and the people at large must come together to achieve this
    national objective.

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