Recently World Bank indicated that corruption remained a major barrier for the growth in our country. It is shocking to know through a recent survey by World Economic Forum (WEF) on corruption that Indian firms sometimes pay up to 50% of the total project cost as bribes to get quick clearances for real estate and infrastructure projects. The regulatory domains attracted more corruption risks. WEF feels that this high level corruption may affect foreign direct investment in these sectors. More than that, the country’s reputation is at stake and always there is a fear of being questioned by anti-bribery acts of local and foreign countries. In spite of the past reports on bribery, corruption has not decreased. The level and range of the corruption may vary from filed to field. It is hampering the development of the country and encouraging generation of black money. Unless change comes in individuals it is very difficult to curtail corruption from the society.
Dr S V N Vijayendra, Mysuru