Presentation on corruption
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This presentation discusses corruption in India, including its causes, effects, and how it relates to black money held overseas. It notes that corruption occurs through dishonest behavior by powerful individuals, especially through bribery. Common causes of corruption include lack of transparency, poverty, and low salaries. An estimated $500 billion of Indian black money is held in foreign bank accounts, accounting for 50% of the country's GDP growth. This corruption has significant negative effects like poor infrastructure and fewer jobs. To address this problem, the presentation argues that India must strengthen laws against tax havens, publicize information on overseas account holders, and develop institutions to reduce capital flight.
Presentation on corruption
- 1. PRESENTATION ON CORRUPTION MADE BY: ANKIT KUMAR SINGH B.TECH (MECHANICAL ENGINEER 2nd YEAR)
- 2. AGENDA: 1. Corruption(Introduction) 2. Causes of Corruption 3. Overseas of Black Money 4. Tax Heavens 5. Black Money Involved 6. The Fact 7. Effects Of Corruption 8. India Must Act
- 4. INTRODUCTION • Dishonest or illegal behavior especially by powerful people (such as government officials or police officers). • Inducement to wrong by improper or unlawful means (such as bribery) . • Government, or 'political', corruption occurs when an office- holder or other governmental employee acts in an official capacity for personal gain.
- 5. CAUSES UF CORRUPTION • Lack of transparency (inflow and outflow of money) • Silence • Poverty • Illiteracy • Unmet expectations • Low public sector salaries • Increasing rate of tax • Increasing rate of competition
- 6. ….THE CURSE THAT STOPS INDIA FROM DEVELOPING Overseas of Black Money
- 7. WHAT ARE TAX HAVENS? • Small countries like Switzerland, Angola, Bermuda, etc that acts as places of registration for overseas non-resident companies. • They have Zero or very low income tax. • They ask no question on the origins of the money coming in their banks. • They keep all banking records secret and cooperate very little with other countries.
- 8. BLACK MONEY INVOLVED • Total dirty money in tax-havens= $11.5 trillion (Rs. 7.5 crore- crore) • 50% of this money belongs to the developing countries like India. • Estimated Indian Black money in foreign banks $500 billion ( rs.25 lac-crores) • They have no contribution to the world, expect as points on the world map where ‘dirty’ money is kept safely.
- 9. THE FACT • Unholy relations between Politicians and Businessmen. • “At least $70-80 billion goes out every year. • India’s black economy is 5 percent of GDP growth. • India’s size of economy would have been $9 trillion. • India has been witnessing unprecedented growth in its black economy. • Now estimated to constitute an alarming growth 50% of country’s GDP growth.
- 10. WORLD MAP INDEX OF PERCENTAGE OF CORRUPTION 3.3 RATING
- 11. INDEX OF PERCENTAGE OF CORRUPTION BY INDIAN STATES J&K BIHAR MOST CORRUPTED STATES
- 13. EFFECTS OF CORRUPTION: • No enhanced social infrastructure. • Improper health care service. • Poor educational facilities. • Less employment opportunities. • 90 percent of the hungry mouths in the country. • Lose 5 percent of its GDP over last 30 years. • Opportunity cost. • The world’s second-largest economy , just after US. • More importantly, we would not have had to witness the Anna hazare movement to root out corruption if we didn’t have a black economy.
- 14. INDIA MUST ACT • Develop national will and agenda against black money in foreign banks. • Get immigration details of the 25,000 frequent travelers to tax heavens. • Upgrade financial action task force membership to full. • Make specific anti-tax haven laws. • Publicize entire economy history of overseas account holders. • Develop a proper institutional infrastructure to fight the flight- of-capital.
- 15. CONCLUSION • Corruption is universal. • Both developed and developing, in the public and private sector. • Corruption is a major constraint that is hindering their a) Economic, b) Political, c) Social development. • Hence, view it as A problem requiring urgent attention at the highest level.
- 17. REALLY HONEST PERSON WILL NOT CLOSE HIS EYES TO CORRUPTION CLOSE HIS EARS TO COMPLAINTS KEEP QUITE ABOUT CORRUPTION.
- 18. THANK YOU!