Corruption And Economic Development


February 1, 2021

Corruption And Economic Development is a form of illegal or wrong activity undertaken by a person who has high authority, often to acquire some private gain. Economic Development means the overall development of the economy (Nation, Region, and local community). It is a wider concept as it includes economic growth, both corruption, and economic development are closely interrelated. Corruption is a major social evil in every economy. It indicates the activities done by the person or organization, which are opposite or against the values and norms of the economy. It becomes a big problem, our country is now in trouble so much that the existence of the economy is under the threat.

Corruption is illegal and immoral activities, and these types of illegal activities are prevailing in every sector whether it is Educational, Medical, Finance, etc. in every sector such activities are prevailing. Morality has gone from society. People in the society use corrupted ways to fulfill their needs or gains, they use unfair means to do the work. Corruption is common everywhere, to measure the level of corruption in the economy. CORRUPTION PERCEPTION INDEX (CPI) is prepared, this index covers the 183 states of Asia, it gives the score scale to the countries from 0 to 10, 0 means that the state is highly corrupted and 10 means clean i.e there is no corruption in the state. Maximum countries score below 5 which denotes a serious problem of corruption.

While the regulation of the government in the business is expanded in the 1960s and the government banned the donations which were given by the large business organizations in 1969. In the 1980s and 1990s, the level of corruption is at a higher level in India and the level of economic development Is very low. The government should take various steps like expanding the facility of free education and free medical facilities so that those people who make gains by using the illegal way in this sector cannot make gains or not able to make gains in the future and education also play the main role to remove the corruption like in Kerala which has high literacy rate and the level of corruption is very low. The government should also check the expenditure accounts of the large organizations and the government should also take care while choosing the Administrative officer.       

ARTICLE WRITER

MR.LAVISH MITTAL[A passionate management student]
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