All Luxury Corrupts Either The Morals or The State. - Joubert
All Luxury Corrupts Either The Morals or The State. - Joubert
All Luxury Corrupts Either The Morals or The State. - Joubert
- Joubert
India is a vast and beautiful land, however the beauty and the goodwill
of this great nation gets spoilt with the kind of corruption that is
happening in India. Almost in every sector, one could find corruption
happening and corrupt people growing in great abundance day by day.
Money and power has ruled men and it has come to a stage where if
common man needs any kind of help from the government sector or
business arena, you too have to end up taking the corrupt route.
Impact of corruption[edit]
Loss of credibility[edit]
In a study on Bribery and Corruption in India conducted in
2013[40] by global professional services firm Ernst & Young (EY), a
majority of the survey respondents from PE firms said that a
company operating in a sector which is perceived as highly
corrupt may lose ground when it comes to fair valuation of its
business, as investors bargain hard and factor in the cost of
corruption at the time of transaction.
According to a report by KPMG, "high-level corruption and scams
are now threatening to derail the country's its credibility and [its]
economic boom".[90]
Economic loss[edit]
Corruption may lead to further bureaucratic delay and inefficiency
if corrupted bureaucrats introduce red tape in order to extort more
bribes.[91] Such inadequacies in institutional efficiency could affect
growth indirectly by lowering the private marginal product of
capital and investment rate.[92] Levine and Renelt showed that
investment rate is a robust determinant of economic growth.[93]
Bureaucratic inefficiency also affects growth directly through
misallocation of investments in the economy.[94] Additionally,
corruption results in lower economic growth for a given level of
income.[92]
Lower corruption, higher growth rates[edit]
If corruption levels in India were reduced 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 estimates the lost opportunity caused by corruption in
terms of investment, growth and jobs for India is over US$50
billion a year.[1]
1. The Right to Information Act (RTI) gives one all the required
information about the Government, such as what the Government is
doing with our tax payments. Under this act, one has the right to ask
the Government on any problem which one faces. There is a Public
Information Officer (PIO) appointed in every Government department,
who is responsible for collecting information wanted by the citizens
and providing them with the relevant information on payment of a
nominal fee to the PIO. If the PIO refuses to accept the application or
if the applicant does not receive the required information on time then
the applicant can make a complaint to the respective information
commission, which has the power to impose a penalty up to Rs.25,
000 on the errant PIO.
2. Another potent check on corruption is Central Vigilance Commission
(CVC). It was setup by the Government to advise and guide Central
Government agencies in the areas of vigilance. If there are any cases
of corruption or any complaints thereof, then that can be reported to
the CVC. CVC also shoulders the responsibility of creating more
awareness among people regarding the consequences of giving and
taking of bribes and corruption.
3. Establishment of special courts for speedy justice can be a huge
positive aspect. Much time should not elapse between the registration
of a case and the delivery of judgment.
4. Strong and stringent laws need to be enacted which gives no room
for the guilty to escape.
5. In many cases, the employees opt for corrupt means out of
compulsion and not by choice. Some people are of the opinion that
the wages paid are insufficient to feed their families. If they are paid
better, they would not be forced to accept bribe.
The one thing that needs to be ensured is proper, impartial, and unbiased
use of various anti-social regulations to take strong, deterrent, and timely
legal action against the offenders, irrespective of their political influences or
money power. Firm and strong steps are needed to curb the menace and
an atmosphere has to created where the good, patriotic, intellectuals come
forward to serve the country with pride, virtue, and honesty for the welfare
of the people of India.