Is Corruption an Indian Monopoly?

Following our media stories, that dish out lurid details of corruption day in and day out, one may be forgiven for concluding that we are the only corrupt people on earth. 

This is not intended to defend corruption in our country, but help understand that it is an universal phenomenon. Such understanding is essential, if we are to fight local corruption. For example, there is a rush to attract FDI. It is almost a mantra for development. Little do we realize that this "hot money" could be recycled black money generated or originated from here coming back. A very large percentage of FDI that flows into India is from companies in Mauritius. Why?

Secondly, we need to appreciate that when we try to take the help of foreign countries (with devices like, DTAT - Double Taxation Avoidance Treaties) that they too have corrupt and powerful people influencing their governments.

Here is a link to corruption in UK



Is there hope in the fight against corruption?: Watch this video and learn that there certainly is cause for hope and success


Corruption is eating into the vitals of the Nation. Let us fight with all the might of the Fifth Estate, the people sans political, government, bureaucratic, judicial or media or any other form or quarters from which one could think of garnering support.


The video here is a talk by Dr. Subramaniam Swamy at Mangalore on 26th Feb 2011.


After watching it, and listening to him decide for yourself what you could do about corruption.


The link below takes you to the video, or you could watch it here.








Times Now TV Channel broke the news about Montek's email correspondence with Mike Froman, US Deputy NSA. Montek was seeking Froman's help since, India was approaching the single borrower limit set by IBRD. Montek said that the matter is coming up before the IBRD board and wanted a relaxation of the limit.

Froman replied, "We are aware of this issue and we will look into it. While I've got you, we are hearing a lot of noise about the Dow Chemical issue. I trust that you are monitoring it carefully. I am not familiar with all the details, but I think we want to avoid developments which put a chilling effect on our investment relationship."

Montek had a lapse of memory when the Times correspondent queried him on this. He pleaded ignorance since, he receives many emails. [Do you know how many mails I receive?] His amnesia is a little difficult to stomach. After all, he was in US for the Indo-US CEO summit, co-chaired by Froman. A Harvard scholar-economist heading the Nation's Planning Commission, would certainly be gifted with reasonable memory.

A few questions are perhaps,in order. Why does India need to borrow beyond the IBRD single borrower limit? Does the borrowing spree have Parliamentary approval? As a "Free market" proponent, why does not Montek leave the economy to market forces and not indulge in govt prolifigacy? Why should a government authority, Planning Commission executive head accompany CEOs of private companies? Is this how market economies operate?
Interestingly, Montek had the head of his "attached office" Nilekani, in tow! Is Nilekani in the CEO summit in his private capacity, perhaps as an invitee of his former CEO buddies, or is he there as a government rep?
What does two and two make here? It looks like it is far more than four!


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