Is Corruption Really Responsible For Economic Slowdown In India?

Corruption
Corruption

Corruption

With the general elections around the corner in India , a lot of views and points are being put forward across debates on News channels, in News papers and magazines etc. against Corruption and its impact. Political parties have been targeting this issue as their major political agenda in the upcoming elections.

  • Let us see what people think about corruption
  • I got the chance to interact With a lot of young as well as not so young minds on various public forums and here is what most of them believe about the impact of corruption:

    Today people have to pay bribe in each and every department , public offices etc. to get even the smallest of the work done and the Regulators who have the job to control it also have their shares in it.
    Lot of mafia people make it to the politics ,become ministers and get the power. When their power gets coupled with political power they misuse the position , even grabbing public properties and promoting the scams, thus impacting the growth.

    And leave apart everything else Funds allocated by the government to medications of poor have also fallen in the hands of corrupt. Hence corruption impacts country’s economy very badly.
    As per certain reports Analysts suggest that India can easily see the economic growth of 5-7 % additionally if corruption is controlled.

    So basically most of them believed that corruption of the bureaucrats and diplomats play a major role in keeping the money away from the developmental work which ultimately hits the growth plan.

    While no one can disagree with the above argument, Let us see what people do not think while talking about corruption :

    Let me take you to the Pre-independence Era . Corruption is not something that has arrived in India after Independence. It has been in the system since then. Right? Ofcourse!
    But the economy has grown during majority of the years since then. Isn’t it contradicting the common perception Regarding the impact of corruption?

    One thing that works in favor of corruption is that it fastens up the process. For example : There are countries like USA where the system is totally clean and hence it takes its own time to issue green card , making people wait for long. A Lot of productive work comes to halt .In such cases , Giving bribe may help as it can fasten the process of getting visa issued. How is the economy getting effected when we consider this Example?

    So let us try to find out why.

    The main reasons for Economic Slowdown :

    1. Lack of ‘perspective’ in planning.
    2. Failure in promoting a balanced growth and development.
    3. Highly centralized nature of planning.
    4. Lop Sided Employment Strategy.
    5. Agriculture overshawdowed by the industry.
    6. Wrong financial strategy.
    7. Politicisation of planning process.

    Wait! Aren’t they the common Reasons that have led to corruption as well? As Simple As That . Corruption is thus not the main Reason for economic slowdown Rather it is the outcome of the above arguments which also have led to economic slowdown. Don’t blame corruption.

    My final verdict:

    If economy is the cricket team then corruption level can be compared to the captain of that team who is always blamed when the team is not performing well.

    The fight against corruption has been taken up by social workers such as Anna Hazare and Swami Ramdev. However we are still waiting for the people to come forward and fight against economic slowdown. Isn’t it a collective responsiblity or we are just happy to sit back and talk about it?

    What are your thoughts about this article ?

    Image Source: rejuvenationmedia.com

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