Essay on No Business in India Gives Returns Like Politics in India
From the facts of the case, it can be clearly seen that politicians thrive in India irrespective of rising inflation and slowing economy. Emerging countries will account for a large chunk of the world’s growth. These countries promise new and unexplored markets to the world with their rising levels of consumption and cheap labor. However, markets such as India pose unique risks for the businesses and hence impact its economy. Business risks are provoked because of influence of government …show more content…
Significant tax revenues have been lost due to corruption. The sale of the 2G spectrum telecom licences in 2008 alone caused an estimated US$40.0 billion revenue loss for the Indian government. India has faced a rising budget deficit which stood at Rs7.0 trillion (US$153 billion) in 2010 or 8.9% of total GDP
India's efforts to reduce poverty will be hampered as public funds are embezzled and diverted from social spending such as on healthcare and education. According to national statistics, more than one third of the Indian population still live below the national poverty line as of 2010. Income inequality has also worsened, with the Gini index rising from 37.8% in 2005 to 39.5% in 2010.
Rising corruption has led to social discontent amongst the middle-class and a volatile political environment. Since early 2011, a series of anti-corruption street protests and hunger strikes are putting the government under pressure to pass a revised anti-corruption bill that has been proposed by Anna Hazare, India's well-known anti-corruption activist.
There are steps that have been taken as corrective measures.
* The RTI Act has brought increasing levels of…