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Thursday, August 18, 2011

Indian growth story under UPA has been reliant on corruption ?


Why is India suddenly so angry about corruption?

Many in India feel betrayed that neoliberal economic policies have not ended but increased fraud and corruption exponentially  .

 This Govt has managed to show high GDP growth that is benefiting only a part of the Indian society by overlooking rampant corruption and undermining many of  the democratic institutions in the country ,upto the office of the CVC. The cost the Indian society is paying and will pay in the years to come , for the rampant corruption ignored  by this Govt 'cannot be calculated in monetary terms but it will be significant', say many . That this govenment does not want to tackle black money also stems from the fact that India's 'growth' story or the UPAS claim to annual 8-9% GDP growth of past 7-8 years is riding high  on the back of rampant corruption . That most of the scams involving astronomical sums have been committed mainly in the past 7 -8years substantiates that statement . The prevailng high inflation that the Govt is unable to control  is also partly  due to  corruption and  the black economy,  cannot be ruled out .In just five years from 2004-08 alone, according to the GFI report , the country also lost roughly Rs.4.3 lakh crores of national wealth to outflows to tax havens.Certain media in the country has already reported that part of this money is returning into the country in the form Promissory Notes for investment into the stock exchanges and real estate market and   is again proof of the link between the GDP growth achieved by this Govt , corruption and the  black money generation . This also explains why the Govt has not shown political will to curb corruption through a strong Lokpal bill , nor followed through on the black money trail . Using such means to achieve GDP growth , with such dire consequences for the country , it is not a a great achievement for this Govt to claim a 'rising India'or 'India shining' story under its governance . In fact The 'RISING INDIA' story being cooked and vended out by the UPA Govt, its Corporate affiliates and select Journalist Groups isbeing described by many in the Indian media  as  nothing but a well planned cover-up for the wholesale looting of the national resources that's been going on in the name of Economic Liberalisation and show of high GDP growth, that is ultimately  benefitting only a few . This is also the reason for the national uprising or the  'Indian spring' recently  and  why  citizens across the country  galvanized under Anna Hazare to express their dissatisfaction and anger against this UPA Govt and thus  forcing the Parliamnet to agree to enact tough anti-corruption laws in the next session . 

 
Indian media and we all need to further ask ourselves ,is it prudent  “driving  GDP growth for sake of statistics while ignoring the state and health of the Indian society in general?.
Read also this full  article on  :http://www.guardian.co.uk/global-development/poverty-matters/2011/jun/17/india-anger-over-corruption

The Indian growth story has been reliant on corruption, and that reining this in will also rein in the extravagant growth that has become so necessary not just for the survival of the government but for the self-image of the country's elites. This dilemma - the government knows   but  is not yet explicitly recognised in the media. 





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