Sell an Idea

Topic: Sell an Idea.

Idea to Sell: Legalise Corruption.

Scenario: Current State of affairs in India

ABSTRACT

Corruption has been the most concerning factor affecting the Indian Economy. India is ranked 95th on the Corruption Perceptions Index 2011[1]. Many ways have been implemented to curb corruption; however these have met with failure. Many policies implemented to curb the menace have hit the bottom without any significant impact. Many economists and activists have called for a complete redecoration of the political and bureaucratic system of the country. However these suggestions seem to be farfetched to be implemented. However Dr. Kaushik Basu, an eminent economist and the Chief Economic Advisor, Ministry of Finance, Government of India, in his paper titled “Why, for a Class of Bribes, the act of Giving a Bribe should be Treated as Legal”, notes that the for the most ubiquitous kind of bribery in the Indian scenario, the person paying the bribe may not be penalised thus legalising the paying of the bribe. This he notes shall increase the no of whistle blowers against the corrupt bureaucrats and officials. However this does not take into consideration the huge sums stashed of at foreign Tax havens by filthy politicians. So taking cue from the policy that was introduced in Thailand years ago (however which led to the economic breakdown of the country in 1997), legalising corruption should be a good option to get rid of it. Legalising corruption with a strong IT frame work is required to effectively curb corruption. This can be done by bringing in more transparency to the system. The bribe givers shall be required to indicate the amount of bribe paid to get a job done. A strong public policy like Sakala scheme introduced successfully by the government of Karnataka, shall help effectively curb corruption. In case of political lobbying wherein large amounts of money exchange hands, the lobbyer shall be required to note the amount exchanging hand to a...