Illegality in India today touches almost every economic activity. It is both systemic and systematic. The Indian ruling class faced its severest crisis of credibility in 2010. Its past caught up with it and skeletons and scams were spilling out of its closets. The scams have a symbiotic relationship with the black economy. The number of scams is growing and so is the size of the black economy, which has reached...

Somalia is the world's most corrupt nation, according to Transparency International's 2010 Corruption Perception Index. The 2010 CPI shows that nearly three quarters of the 178 countries in the index score below five, on a scale from 0 (perceived to be highly corrupt) to 10 (perceived to have low levels of corruption), indicating a serious corruption problem. New Zealand, Denmark and Singapore are the least corrupt countries in the world, according...

The present situation is different from that of 2007-2008, although recent climatic events may significantly reduce agricultural production next season. Must history always repeat itself? We are indeed on the verge of what could turn out to be another major food crisis. The FAO Food Price Index at the end of 2010 returned to its highest level. Drought in Russia and the export restrictions adopted by the government, together with...

The Centre may announce a tax amnesty scheme to bring back black money stashed in banks abroad, finance minister Pranab Mukherjee hinted today. He declined to share the names of those who have black money in foreign banks “as it violates international law”. By one estimate, anything between $450 billion and $1.5 trillion is in these accounts. Mukherjee’s news conference was called today at the behest of Prime Minister Manmohan Singh who...

A case where request for info on some Budget 2007 notings was rejected by the CBDT, but made available by the Central Information Commission, the Second Appellate Authority under the RTI Act. The Right to Information Act of 2005 is a very important piece of legislation to bring about complete transparency in the functioning of the bureaucracy and thus increase accountability as well as reduce corruption. Since it is a relatively new...