Wednesday, December 08, 2010

Capital Plight: What Drives Corruption in India?


November has been a nightmare month for some Indian politicians, businessmen and bureaucrats. The cauldron of corruption, which in India is always bubbling quietly in the background, suddenly erupted -- not once, but several times, in headline-hitting but unconnected instances. "It is a murky time," Tata Group chairman Ratan Tata told news channel NDTV.

The biggest recent scam -- and the largest in Indian history -- involves the US$40 billion 2G (second generation) spectrum allotment. Union telecom minister A. Raja was forced to resign on November 14 as a result. (See: "India's 2G Telecom Scandal Spans the Spectrum of Abuse.")

See full Article.