In: Economics
Answer :- To answer this question, i will take India as example. As we all know that Corruption in India is an issue that adversely affects it’s economy of central, state and local government agencies. Not only has it held the economy back from reaching new heights, but rampant corruption has stunted the country’s development. India continues to be among the most corrupt countries in the world. Currently, India has been ranked at the 80th position among 180 countries and territories in the Corruption Perception Index (CPI) prepared by Transparency International.
Hindrances for Development :-
Corruption leads to loss of wealth and prosperity which is a great loss for the future of India. For the past ten years, India has shown growth in corruption rate, where the country has lost billions and billions dollars of money in various scams, which are tax payer’s money. Many developmental projects are taking unnecessary delay for their completion due to corruption. This leads to backwards in every field like sports, technology, medicine, research, economy, defence, and infrastructure.
Two measures i would recommend to fight corruption are :-
1. The first tool is ‘education’. With the help of education we can reduce corruption. According to a report by Transparency International, the least corrupt state is Kerala, the reason being that Kerala’s literacy rate is highest in India. So we can see how education effects education. In most of the states, normally a fairly large number of people are uneducated. Those who are uneducated do not know about the process, provisions and procedures through which they can get justice. Corrupt public servants try to make a fool of them and often demand bribes. It is due to unawareness in the field of law, public rights and procedures thereof that a common and an uneducated suffer out of the corrupt society. This suggests that if we are educated, we can understand our rights well.
2. Lack of transparency and professional accountability is yet another big reason. We should be honest to ourselves. Until and unless we will not be honest, we can’t control corruption. If each of us is honest towards our profession, then corruption will automatically decrease. We need to pay attention towards professional accountability i.e., how much we are faithful and truthful towards our profession. Corruption may be controlled by handling five major professions: Accountant, Medical, Revenue, Police and Judicial.