Archive for May 2009

MANAGEMENT CARRER IN CRISIS ERA

May 29, 2009

Crisis , Recession ,bailout , Socialization of capitalist economic were the buzzword of second half of year 2008 .Year started with a bang ,Share market indices were on all time high ,whether in us or Europe  or Asia . But suddenly the world market started crashing and the reasons were mortgage crisis led financial failure of major bank in US. The trickle down effect started engulfing the world and slowly all major economies started bleeding .oil ,gold ,currency auto ,finance , insurance ,tourism ,real estates , aviation all sectors started responding in negative way The liquidity crisis fueled by the failure of mighty financial institution has been compensated by the announcement of bailout packages by all major economic of the world . But the weight of the package seems not enough to balance the burden of crisis.

In these tough times when, Governments all over the world our trying to infuse liquidity to control the situation, the job market is facing draught like conditions .How long this drought will continue or take the shape of famine to kill thousands as happened in 1930’s crisis, nobody in position to say any thing about it .All future projections regarding the shining economic suddenly turned out to be a chimera. What is the real conditions world is really heading towards prosperity or just a game played by the hedgers to just make money and keep the welfare of the world.

When ever the corporate world faces hardship, it start cutting its expenditure and the first victim of this cost cutting mechanism is non other than the valuable employers this time also when the most of the company’s are facing the liquidity crisis, along with slowing demand, they started firing employees .Already million of job are lost in USA and European market and the impact is clearly visible in the developing economics.

According to World Bank projection about the 2009 trend, it is clearly stamped that the growth rate will slowdown if not go in negatives. Us, UK, Germany and Japan are already in recession and are cutting the bank rate heavily to infuse money in the market to keep the demand supply equation in balance. In which direction this tide will turn and for how long this reverse trend will continue is not easy to answer, because it takes years to win back the faith of investor and confidence of consumer.With financial institutions crumbing, thousands of employees were laid off as the jobs became redundant. Since all sectors are interdependent in some way, meltdown which started with the financial sector is affecting other sectors as well.No sector is insulated from any other sector in a practical economy. It is obvious that if unemployment and wage rate decreases, the disposable income decreases. This leads to lesser demand for goods which drives down the GDP.Since there is a wide gap between demand and supply of manpower, only the fittest will survive in such a scenario the most relevant candidates only are likely to be called for a job interview.

Possible consequences:

  • There will be a large pool of qualified unemployed candidates
  • Only the most relevant candidates may be consider for any position
  • It will be an employer market
  • The relevant candidate will be readily available
  • The fresh candidates may find it difficult to obtain suitable position
  • Average wage rate will come down
  • Impact on education sector.

Any impact on employment opportunity will directly affect the education sector. During economic slowdown time of shortage in job market, it is natural to expect the number of enrolment at universities. People are like to upgrade their skills and acquire additional qualification to gain an edge over other. Student completing under-graduation may directly move on a graduate program rather than entering to job market. But during the downturn, job is in short –supply as compared to number of available candidates. Hence employer will employ better candidates at a lower wages.

At the same time completion for admission to higher degree programme will also intensify .Student that who  have recently completed schooling or undergraduate will apply for higher education.

Advantages of higher   education in general and management education in particular are generally    evaluated only from the arability of placements .Placements will definitely not be very bright during recession ,this is because the market will anyway be flood with experienced job-seekers , who will be willing to work at reduced wages .

From another perspective, if parents are unemployed/underemployed, how can they finance their wards’ education? Even Universities may not have a big fat scholarship fund that was available earlier. There is news that all major universities in west are reducing budget and cutting seats to cope with the crisis.The government can actually utilize this opportunity to fuel economic growth once again. If the government issues amount of high powered money which is used to fund students higher education and for educational infrastructure development. This will have four benefits .Firstly, student’s education will be financed and quality graduates will be available.

The end result will be a pool of qualified job seekers seeking employment in an economy which would have again started growing because of an investment in these very candidates. It is for sure that world is not going to end in this crisis, we have faced several such crisis of environment and political nature and successfully come out of it ,even this time we welcome out of this economic crisis successfully , with little bit of pain that is all about human spirit.

The five job areas For graduates in this year’s survey include:

  • Finance/accounting (31%)
  • Marketing/sales (20%)
  • Consulting (17%)
  • General management (14%)
  • Operations/logistics (9%)
  • India’s rapidly-growing economy is bringing up demand for new skill sets. Educational institutes are introducing new and unheard of courses to meet industry demand. Welingkar Institute of Management, Mumbai, plans to roll a Diploma programme in judiciary management soon.

TAX ON FOREGIN EXCHANGE TRANSACTION

May 27, 2009

Recently, the Revenue department has sought to levy a tax on the foreign exchange transaction of the bank. The suggestion was met with the huge opposition from the bank as it is going to reduce profitability earned by the bank from the foreign exchange trade.
The tax rate to be imposed as per suggestion is 025% service tax on every transaction of foreign exchange .Currently the bank are charging a flat of Rs 100 on every transaction irrespective of the amount converted in foreign exchange currency .The tax incidence is 12.36% or 0.25% of the turn over if service tax is not imposed .If .25% is imposed then it is going to affect the profitability of the bank as well as exporter convert huge amount of currency on account of daily transaction.
The levy on foreign currency transaction is also known as Tobin tax in other countries .It is slightly different from the tax proposed by India as there are difference in various objective to impose such taxes by the countries that ranger from dissuading speculator from making profit on foreign exchange transaction ,funding of developmental need from such earning. Tobin tax is tax imposed by other countries on financial transaction across the border. The tax on foreign exchange transaction was devised to cushion exchange rate fluctuation. The idea is very simple, at each exchange of a currency into another a small tax would be levied 0.1% of the volume of transaction
However imposition of on foreign currency transaction has meet a lot of opposition and debates from other countries .Opinion are divided between anti-globalizationists who applaud that the Tobin tax could protect countries from spillovers of financial crises and pro-globalizationists who stress that tax would also constrain globalization and dry up world liquidity.

Special squad of India

May 27, 2009

India along with whole world is facing the threat of terrorism in different forms. Keeping this in the mind several state governments created their own special force. To handle terror related threated, STF, HUNTERS, GREYHOUND are some of the special squad to tackle terrorism and related violence.

What is Marcos?-“Marcos is short form of “ ”Marine commandos” also known as marine commando force (MCF)It is an elite special operation unit of the India navy .MARCOS group came into being in 1987 Along with the NSG. The first unit was called The Indian marine special force /and was later remand as Marine commando force (MCF) in 1991. They are also locally known as the Dadiwaly Fauj since they are only the unit of the Indian armed force that permits non skis recruits to maintain breads. MARCOS is very secretive organization & it is said that no officer never reveled he is with MARCOS .The MCF currently operates out of the navel based at Mumbai based INS.

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What is ATS: The anti terrorism squad as it is usually called Anti-terrorist squad is a unit of about 30-35 officers of the state police to tackle the terrorism menaces .It is formed with the special objective.

  • To get information about the anti-national element
  • To coordinate with the central information agency like IB,RAW & exchange information with them
  • To track & eliminate activities of mafia & other organized crime syndicates
  • To detect racket of counterfeit currency note & smuggling narcotic substances
  • To coordinate with similar agency of other state

What is ATF: Special Task Force is a generally armed regular unit of a state government police created to undertake specific or special task such as check dacoits of chamble of Madhya Pradesh, counter militancy of Assam

What is NSG: National security guard is a special unit preliminarily utilized for counter terrorism activities .It was created by the Cabinets secretariat under the national security guard act of the parliament in 1985. The NSG operates under the ministry of Home affairs .The NSG member is called Black Cat.

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What is SPG: Special Protection Groups is the executive protection agency of the govt. of India. It is responsible for the protection of the political official, & theirs family member .The force was established in 1985.The SPG personnel are under go a tanning similar to that conducted by the united state of secrete service.

TIME TO TAKE DIRECT ACTION OVER TERRORIST

May 27, 2009

November 26 ,2008 turned out to be a real black day for Mumbai as the terrorist attack ed in several places in Mumbai .Famous heritage icon like Hotel Taj,Oberoi ,Chatrapatisivaji terminal ,and many other place were attack by few unidentified group of people .Hundred were injured & many got killed in the incident. The terrorist hostages many people for almost three days .This was the first ever attack where the assailants killed many people and dared to come in limelite.National security Guard (NSG),Mumbai ATS,State reserve police force& other commando are sent to the site .The battle took place for almost three days before combing & sanitizing the whole area. Hotel Taj took the longest time to take to complete sanitized of the terrorist. The entire terrorist got killed under the operation & one got arrested .Many police personnel and chief also got killed in the operation. In the whole operation 9 terrorist, 20 security perssone, 183 civilian got killed. Many foreign tourists were also killed in that whole operation. More than 300 person were injured .The whole act took almost four days before getting all the areas cleared off & ensuring that would be no other assailant left. The whole World was stunned and watches the incident with awe .The incident was also linked to terrorist outfit in Pakistan.

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For this we need to many things ,but most importantly we need to fix our crime justice system to ensure that such criminal injustice are prevented and who are those guilty are swiftly brought to books .We have a largely insensitive ,communal ,corrupt and failed judicial system .therefore we need a major public campaign for that .

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GEOGRAPHICAL NEWS

May 22, 2009
  1. Pearl of the Pacific –Guayaquil port.
  2. Pillars of Hercules-Strait of Gibraltar
  3. Play ground of Europe-Switzerland
  4. Pink City-Jaipur,India
  5. Quaker city-Philadelphia
  6. Queen of the Arabian Sea-Cochin
  7. Queen of the Adriatic-Venice
  8. Rich cost-Coasta Rica
  9. Rich port-Puerto Rica
  10. Roof of the World-Pamir (Tibet)
  11. The sea of Mountains –British Columbia
  12. Sorrow of Bengal-Damodar(West Bengal)
  13. Sorrow of China-Hwang-Ho /Yellow River
  14. The saw mills of Europe-Sweden
  15. Sick man of Europe-Turkey
  16. Spice garden of India-Kerala
  17. Sugar Blow of India-Utter Pradesh
  18. Sugar Blow of the World-Cuba
  19. The Store House of the World-Mexico
  20. The Down Under –Australia
  21. Venice of The North-Stokholm
  22. White City-Belgrade
  23. Windy City-Chicago
  24. White Man’s grave-Guinea cost
  25. Workshop Of Europe-Belgium
  26. The spice island of the east-Grenada
  27. The mother colony of west Indies-St. Kitts
  28. City of Arabian Knights-Baghdad
  29. Twin city-Budapest
  30. The Imperial city-Rome
  31. Golden city-Johannesburg
  32. The Eye of Greece-Athens
  33. The modern Babylon-London
  34. Blue Mountains-Nilgiri Hills
  35. Bread Basket of the world –Prairies of North
  36. Britain of south-New Zealand
  37. Battle field of Europe-Belgium
  38. City of dreaming Spires-Oxford
  39. City of golden gate-San Francisco
  40. City of golden temple-Amritsar
  41. City of Magnificent Distance-Washington D.C
  42. City of palaces-Calcutta
  43. City of popes-Rome
  44. City of seven Hills-Rome
  45. City of Sky Scrapers-New York
  46. Cockpit of Europe-Belgium
  47. Dark Continent-Africa
  48. Dairy of northern Europe-Belgium
  49. Emerald Island-Ireland
  50. Empire city-New York
  51. Eternal city-Rome
  52. Forbidden city-Lahaska
  53. Garden city-Bangalore
  54. Garden of England-Kent
  55. Gate of tears –Strait of-el-Mandeb
  56. Gateway of India-Bombay
  57. Granite city –Aberdeen
  58. Gift of Nile-Egypt
  59. Gibraltar of Indian ocean-Aden
  60. Herring pond-Atlantic ocean
  61. Hermit Kingdom-Korea
  62. Holy Land –Palestine
  63. Island Continent-Australia
  64. Island of Cloves –Madagascar
  65. Island of Pearls-Bahrain
  66. Key to Mediterranean-Gibraltar
  67. Land of Cakes –Scotland
  68. Land of the Flying Fish-Barbados
  69. Land of Golden Fleece-Australia
  70. Land of Kangaroo-Australia
  71. Land of Golden Pagoda-Myanmar
  72. Land of Five River –Punjab
  73. Land of Humming Bird- Trinidad
  74. Land of Lilies-Canada
  75. Land of maple-Canada
  76. Land of Midnight sun-Norway
  77. Land of Morning Calm-Korea
  78. Land of Rising Sun-Japan
  79. Land of Thousand Lakes-Finland
  80. Land of white Elephant –Thailand
  81. Land of Snow-Canada
  82. Little Venice –Venezuela
  83. Manchester of India-Mumbai
  84. Mother-in law of Europe –Denmark
  85. Pearl of Antilles-Cuba

EXTREAM FACTS

May 22, 2009
Largest National Perk North east Greenland National perk (972000)sq km.
Highest Petrol Pump Leh Ladakh
Largest Peninsula Arabia
Largest Planet Jupiter
Smallest & Oldest Planet Pluto
Planet Closet to Sun Mercury
Planet Closest to Earth Venus
Brightest & Hottest Planet Venus
Farthest Planet Neptune
Greatest Plateau Tibetan Plateau in central Asia
Largest Railway Platform Kharagpur,West Bengal
Highest Road in India Khardungla,ladakh
Largest Reef Great Barrief Reef
Largest & Biggest River Amazon (6290 km)
Shortest River Roe river in Montana
Largest Sea South China Sea
Largest Stadium Strahov in praha
Longest Strait Malacca Strait
Largest Archipelago Indonesia (13000 Island)
Smallest Country Vatican State
Longest Cannel Suez Cannel ,161 km
Highest Capital Lhasa(3684m above sea level)
Highest City Wenchaun (china)5100 m above sea level
Largest Continent Asia
Smallest Continent Australia
Largest Country Russia
Driest Place Atacama Desert ,Chile
Hottest Place Al Aziza
Rainiest Place Mawyaram,near Cherapunji
Highest Water fall Salto Angel Fall,Venezuel

PROS AND CONS OF CYBER CRIME

May 21, 2009

Cyber crime is a criminal activity committed through the internet .This is a broad term that describes everything from electronic cracking to denial of service attack that cause electronic commerce sites to loose money as well as precious data. Cyber crime s can be divided into three major categories:

v Cyber-crimes against person.

v Cyber-crimes against property.

v Cyber-crimes against Government.

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Criteria of cyber crime

Assault by Threat: Threatening a person with fear there lives or family through the use of computer net work such as email, videos, or phone

Cyber Contraband. Transferring illegal item through the internet (Such as encryption technology) that are banned in some location.

Cyber Laundering: It is a electronic transfer of illegally obtained money with the intention of hiding its source and possible and destination.

Cyber Stalking: It is express or implied physical threat that create fear through the use of computer technology such as email, phones, text massage, web camp, website etc.

Cyber Theft: It means using a computer to steal .This includes activities related to breaking and entering DNS cache poisoning, embezzlement and unlawful appropriation, espionage, identity theft fraud, malicious hacking, plagiarism and piracy .Examples include advertising or soliciting prostitution through the internet.It is against the law to access prostitution through the internet because the process of accessing the Internet crosses state and sometimes national borders. Drug sales, both illegal and prescribed, through the internet are illegal except as a customer through a state licensed pharmacy. Computer based fraud is different from theft because the victim voluntarily gives the money or property to the criminals.

Online Gambling: Gambling through the internet is a violation of law because the gambling service provider requires electronic payment through the use of credit card, Debit card, or other electronic fund transfer which is illegal.

Cyber Trespass: Here, someone accesses computer network recourse without their authorization or permission of the owner but does not alert disturb, misuse, or damage the data or system. This is hacking for the purpose of entering into electronic network without permission. Example- Using a wireless internet connection at a hotel in which you are staying and accessing the hotel privet files with out disturbing them .this is called snooping.

Cyber Vandalism: Damaging or destroying data rather than stealing misusing them is called cyber vandalism .This can be included a situation where network service are disturbed or stopped.Delibarately putting malicious code (viruses,Torjans) into a computer network to monitor ,follow, disturbed stop ,perform any other without the permission of the owner of the network.

Phishing Technique: Phishing technique was described in details in 1987,and first recorded use of the term “Phishing” was made in 1996 .the term is variant of fishing probably influenced by phreaking,and alludes to baits used to catch financial information & password.In the field of computer security Phishing is the criminal fraudulent process of attempting to acquire sensitive information such as username, password, and credit card details by masquerading as a trustworthy entity in an electronic communication. Phishing is typically carried out by e-mail or instant massaging ,and it often direct user to enter data at a fake website whose URL and look is all most identical to the legitimate one. Phishing is an example of engineering techniques used to fool user and exploit the poor utility of current web security technologies.

Link manipulation:Most method of Phishing use some form of technical deception designed to make a link in an e-mail belonging to the spoofed organization Misspelled URLs or the use of sub domain are common trick used by phisher.

Filter evasion:Phishers have used anti-Phishing filters to detect text commonly used in phising emails.

Website Forgery: Once a victim visits the Phishing website deception is not over. Some Phishing scam use java scripts commands in order to alter the address bar. This is done either by placing a picture of a legitimate URL over the address bar, or by closing the original address bar and opening a new one with the legitimate URL.

Phone Phishing:Not all Phishing attacks require a fake website. Massage that claimed to be from a bank old user to dial a phone number regarding problem with their bank account.Once the phone number was dialed, prompts told user to enter their account number and PIN.

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A Dirty Business:Child pornography is multi billion dollar dirty business and among faster growing criminal segment on the internet .According to the National center for Missing and Exploited Children (NCMEC), USA approximately one fifth of all internet pornography is child pornography .According to research conducted by at MIT, 89%of porn is created in the USA .Revenue$2.84 billion was generated from USA porn site in 2007. $89per second is spent on porn, 72%of porn viewers are men and 260 Site and above go online daily.

READ AND REVISE

May 21, 2009

1. which planet is closet to the sun-Mercury

1. which planet rotates  on its axis from east to west-Venus

2. The day in which the sun is near to the earth-Perihelion

3. what is the International date line-180degree longitude

  1. What is the relation between solar day &sidereal day-Solar day  is longer than sidereal day

5. the mass of earth is about what time than that of moon-81 time

6. How much of the surface of the moon is visible from earth-59%

7. What is the unit of measurement of distance of star from the earth-Light Year

8. Light from the nearest star reaches the earth in what year-4.3 year

9. which comet appears every 76 year-Hally’s

10. The moon’s period of revolution with reference to the sun is equal to one synodic month.

11. We always see the same face of the moon because it text equal time for both revolution around the earth and rotation on its own axis.

12. What is a tidal bore-A high tidal  wave moving up stream in the mouth of a river

13. Antarctic circle-66 degree S latitude

14. Longest day in Australia -22december

15. The difference in the duration of day and night increases as –one move from the equator to the polls.

16. Equinoxes occur on March 21 and September 23.

17. The standard time of India is 51/2 ahead of green which Time.

18. The south polls experience continues light at the time of winter solstice.

19. Which planet takes the longest time to go once around the sun?-Neptune

20. One desirous of traveling by the shortest route should follow the longitudes.

21. A day is added when one crosses 180 degree longitude from west to east.

22. The order of the layers in the atmosphere, in terms of volume, is nitrogen and oxygen.

23. Most of the weather phenomena take place in the troposphere.

24. Which layer of the weather atmosphere maintains and almost uniform temperature?-Stratosphere.

25. The thickness of the troposphere increase in summer.

26. Which gas in the atmosphere absorbs ultraviolet rays?-Ozone.

27. The fall in air temperature with increasing in elevation is known as –Lapse rate.

28. Where the doldrums belt is located-Near equator  .

29. What is the name given to wind blowing from sub tropical high pressure region to the equator –Trade wind?

30. Horse latitude apply to 30 degree to 35 degree –N and S latitude.

31. The stratosphere is said to be ideal for flying –Jet aircraft.

32. What is incoming solar radiation known as – Isolation?

33. The velocity of wind is governed by –pressure gradient.

34. Why does sky look blue –Because the blue light is scattered by dust particles.

35. Name the instrument use for humidity- Hygrometer.

36. How much pressure is exerted  by the atmosphere at sea level –One KG per square CM

37. The water content in the atmosphere increase as –As temperatures increases.

38. What is great circle-Equator

39. What is meant by midnight sun –Sun remains visible at local midnight at poles.

40. What is cyclone –A low pressure system with anti clock wise wind in the northern hemisphere?

41. What is anticyclone-High pressure system With clock wise wind in the northern hemisphere.

42. What is jet stream – An upper wind system with very high velocity in certain part of atmosphere?

43. What are tornados –A very low pressure center?

44. What is vapour pressure-Pressure only due to vapour in the air.

45. What is dew point-The temperature at which air is fully saturated is called dew point.

46. What is cloud –Condensed moisture in the form very minute water droplets and ice particles?

47. What is fog-A low stratus cloud

48. What is Orographic Rain –Rain fall is caused due to the presence of the mountain in the way of wind.

49. What is Gulf Stream –A warm ocean current in the Atlantic ocean.

Transparency in Public Administration

May 21, 2009

In a democratic country like India, where all the agent of public must be responsible for their conduct. The people of this country have right to know every public act.In Indian context the connected series or group between politician, bureaucrats, criminal & policies know as a clumsy fact.. Corruption has rooted in all walks of life. Every wing of the administration is rotten with corrupt practice. The right to know or need of transparency in public administration becomes too important to keep it away any longer.Transparency means knowing the reason, facts, logic, and basis of decision taken by the administration. Transparency in public administration in legal term means that a citizen of India has a right to have access to the information about the govt.Denial of such information to the public authority with out appropriate reason would be offence under the court of law. Though the Supreme Court has recently gave a constitutional status for the right to know.

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Undisputedly, Transparency in public administration will make the executive more responsible & friendly. The red tapes prevailed in the administration will be minimized as the public become more powerful. Transparency will positively result in wiping out the one man rule  & impulsive  way of working of the so called powerful bureaucrats under the patronage of politician. The discretion enjoyed by the bureaucrats & the minister also come into focus, as soon as the transparency in public administration is restored. Unfortunately “secrecy is a rule &b transparency is an exception, while the demand of time is transparency every where and secrecy be limited to the case of pertains only to the National Security.

In the contemporary world, effective democratic governance is Fix firmly and stably, among other factors, Democracy cannot Grow vigorously in an environment of secrecy, as the free flow of data is imperative for people to follow and inspect the operations of a representative government, assess the policies and decisions. Open government, which can promote a culture of Complete and confirmed integrity within the public service, facilitates the act of combining into an integral whole and gradual deepening of democracy. It strengthens the structures of accountability by applying the necessary means to reduce Wrongful conduct by a public official and corruption in public organizations. The more transparent a government is, the fewer will be the opportunities for public administrators and managers to resort to corrupt practices in the tasks they perform and deeper will be people’s capacity to exercise control over arbitrary state power. Framing public policies behind closed doors or adhering to obscure procurement and financial practices can lead to making Containing or characterized by error choices that may have adverse implications for the community and beyond. The immoderate exercise of bureaucratic discretion in a closed secretive environment or the influence of non-transparent corporate culture and the almost unbound volition of oligopolies to control competition in the market place result in corruption. Thus in the symbiotic relationship between corruption and opacity, discretion and monopoly are critical factors, and the social and economic fallout of inordinate opacity and pervasive corruption can be a bane for democracy and development.

Despite this entire shortcoming, legislation, guaranteeing the right to information is a major step towards ensuring a participatory development process in the country. To make the law truly effective, the active participation of the community at large is very much essential.

EFFECT OF CORRUPTION IN ECONOMIC GROWTH

May 20, 2009

Corruption in any form is treated as an incurable disease cause of many social and economical evils in the society and it damages the moral and ethical fibers of the civilization .Indisputably, it is correct that corruption breeds many evils in the society & once corruption start take place ,slowly and gradually whole country passes through its net and it become after some time incurable diseases .from the economic point of view ,there seem to be no clear cut correlation between corruption and the economic growth of a country. There may be some social maladies like inequality of income among the people ,moral degradation of people due to the prevalence of corruption ,the parameter of economic growth which are taken on percentage or an average basis are entirely different

We can find several countries having corrupt regime but yielding excellent economic result and other countries with clean regime showing very poor result in term of economic prosperity and growth.

Corruption in long run may destroy the whole society morally, ethically and economically .May be in the long run, a country needs clean government to reach top of the income ladder, may be rapid income growth by its self induce better accountability and governance, may be corruption in long run degenerate the society into several misfortune and evils .But clean govt is not necessary condition for rapid economic growth.

A survey conducted by World Development Report some year ago, business man in surveyed countries said that the main problem with corruption was that it increases risk and uncertainty .The risk declined dramatically if corruption produced reliable outcome .If all player have to play 10% and could treat of getting their license entrepreneurs could treat this as just one more tax, factor it into their calculations of profit and so could invest with confidence of sure gain.

The quality of institution seems to be the most important factor for the growth of a countries .If the institution work moderately well, progress is possible even if money is skimmed off at the top .But if the institution are incapable of enforcing any right, corruption will hasten economic collapse.

So far Indian economic is concerned the slow progress is the result of lack of decision making at higher level .Many politician who take money but could not enforce their will because of powerful lobby of bureaucrats at many place and a democracy like India ,voice of media ,voice of opposition could suppress the wish of the leader .

India’s economic growth on an average 6 % GDP despite considerable corruption is because of the stability and the liberalized measure taken by the present govt., gradual privatization of various sector, reducing bureaucratic intervention in routine work & other measure adopted by govt.

In brief it can be concluded that corruption and economic growth has no clear correlation .strong institution, political stability, fast and reasonability in decision taking are some of the requirement for fast economic growth.

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