Opinion | India ought to distinguish ‘good corruption’ from bad4 min read 25 Nov 2019, 11:26 PM IST
Economic growth under a stiff regulatory structure is usually accompanied by corruption
A few days ago, former Prime Minister Manmohan Singh wrote of the “palpable climate of fear in our society today" as one of the reasons for India’s economic slowdown. This fear is partially caused by a crackdown on corruption, which is choking new projects, investments and bureaucratic decisions. The slowdown is partially a result of the government using harsh methods to eliminate corruption, black money and tax evasion. This may sound strange. How can attempts to end corruption slow the economy down? Shouldn’t it be the other way around? Shouldn’t a clean and corruption-free society foster economic growth?