Exposing The Corruption In India Essay

1609 words - 7 pages

Corruption is something we never really want to hear about, but is a very serious matter to contend. The idea that one person would extort or hold power over another human being isn’t a highly talked about subject. However, in India there is a problem with corruption, which has run out of control. People subject to poverty in India and considered poor by other nations’ standards are taken for what little cash they have or property they own by someone of a higher authority. What’s worse is those very people also begin doing the same. Corruption is an opportunity to many, and to some their only way to get ahead. This problem is so far reaching in India that one has to question how things will possibly get better. The effects of corruption are even more devastating. India’s economy could be at stake, the peoples’ faith in their government can be shaken, and it can lead those whose job it is to protect the innocent to turn against them. If there’s any way to fix the corruption in India, it will have to start with the government doing their part. How does a government who is also corrupt fix this issue?
Due to this rampant corruption in India, one of the unintended side effects could be a reduced growth in India’s economy. Roopinder Oberoi of the Department of Political Science for the University of Delhi states, “Across international financial markets, corruption is considered to be associated with higher borrowing costs, lower stock valuations and bad corporate governance” (Mapping the Matrix of Corruption: Tracking the Empirical Evidences and Tailoring Responses). In making this statement, he shows us results for a survey conducted where respondents concurred that if corruption was brought under control the Indian economy could achieve about a 9% GDP growth. Raj Aggarwal, former dean of the University of Akron College of Business Administration, agrees that “…the growth of financial markets in India is likely to be impeded by corruption” (India in the World Economy). Aggarwal continues by telling us that in countries with moderate to low regulated economies, corruption is at its lowest there. India, having been a closed market to the world until changes started being made in the 1990s, has a need to become less regulated with an expected effect of lower corruption rates taking place. It can be seen that there is indeed an economic impact where corruption is concerned. For a country that shelters one third of the world’s poor, an economic breakthrough could be just what India needs to help improve the lives of each of its citizens. To do that, the government needs to take a more rigorous stance against corruption and do all that it can to cleanse it from the system. Perhaps India will then be in more prosperous times and achieve higher economic growth rates as suggested by Oberoi and Aggarwal, thereby lifting people out of poverty.
The corruption doesn’t just affect the people on an economic level. It is present within the...

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