prasad1
Active member
This article is dated January 25, 2017.
Cash may be still in short supply in India, as the country tries to cope with Prime Minister Modi’s recent experiment with rupee notes. But not corruption.
That’s according to recently released numbers from Transparency International, which show that India slid three positions in the 2016 country ranking compared to 2015, from 76 to 79 -- though it nudged up two positions, from 38 t0 40, in Transparency corruption Index. That’s something investors in Indian stocks should take notice of.
Source: Transparency International
Last year, Prime Minister Narendra Modi hada bright idea on how to solve India’s corruption problem quickly: get rid of “black money,” ie the 500 and 1000 rupee notes.
The trouble is he didn’t do his homework to figure out how his plan could be carried out.
This was evidenced by the breaking of ATM machines and long lines outside banks, and drying up of liquidity, which brought the nation’s economy to a standstill.
Worse, Modi’s currency experimentation didn’t solve the problem it was designed for – corruption. The Transparency International numbers confirm that.
To be fair, Modi’s currency experiment took place towards the end of the year, so it is too early to determine whether it had any significant impact on the country’s corruption ranking.
Still, the aggravation of corruption rates confirms that Prime Minister Modi has been ineffective in fighting both small and big corruption. “India’s ongoing poor performance with a score of 40 reiterates the state’s inability to effectively deal with petty corruption as well as large-scale corruption scandals,” states Transparency International. “The impact of corruption on poverty, illiteracy and police brutality shows that not only the economy is growing – but also inequality.”
https://www.forbes.com/sites/panosmourdoukoutas/2017/01/25/modis-india-is-short-in-cash-but-not-in-corruption/#46adde834d3b
I know BJPWala's will be up in arms at this post, but can we have a discussion without the party view.
What do the common people feel about retail corruption in their day-to-day life?
My family members are divided on party lines. Nonparty affiliated friends do not see any difference in the corruption level, on the contrary, they claim that Bank, Revenue, Income Tax officials are rolling in cash.
Cash may be still in short supply in India, as the country tries to cope with Prime Minister Modi’s recent experiment with rupee notes. But not corruption.
That’s according to recently released numbers from Transparency International, which show that India slid three positions in the 2016 country ranking compared to 2015, from 76 to 79 -- though it nudged up two positions, from 38 t0 40, in Transparency corruption Index. That’s something investors in Indian stocks should take notice of.
Country | Corruption Index in 2010 | Corruption Index 2015 | Corruption Index in 2016 |
Pakistan | 143/168 | 117/168 | 116/168 |
India | 87 | 76 | 79 |
Estonia | 26 | 23 | 22 |
USA | 22 | 16 | 18 |
Source: Transparency International
Last year, Prime Minister Narendra Modi hada bright idea on how to solve India’s corruption problem quickly: get rid of “black money,” ie the 500 and 1000 rupee notes.
The trouble is he didn’t do his homework to figure out how his plan could be carried out.
This was evidenced by the breaking of ATM machines and long lines outside banks, and drying up of liquidity, which brought the nation’s economy to a standstill.
Worse, Modi’s currency experimentation didn’t solve the problem it was designed for – corruption. The Transparency International numbers confirm that.
To be fair, Modi’s currency experiment took place towards the end of the year, so it is too early to determine whether it had any significant impact on the country’s corruption ranking.
Still, the aggravation of corruption rates confirms that Prime Minister Modi has been ineffective in fighting both small and big corruption. “India’s ongoing poor performance with a score of 40 reiterates the state’s inability to effectively deal with petty corruption as well as large-scale corruption scandals,” states Transparency International. “The impact of corruption on poverty, illiteracy and police brutality shows that not only the economy is growing – but also inequality.”
https://www.forbes.com/sites/panosmourdoukoutas/2017/01/25/modis-india-is-short-in-cash-but-not-in-corruption/#46adde834d3b
I know BJPWala's will be up in arms at this post, but can we have a discussion without the party view.
What do the common people feel about retail corruption in their day-to-day life?
My family members are divided on party lines. Nonparty affiliated friends do not see any difference in the corruption level, on the contrary, they claim that Bank, Revenue, Income Tax officials are rolling in cash.