Economics: India counts the cost of corruption

Corruption and tax evasion cost the Indian economy billions a year (photo:dpa)
Corruption and tax evasion cost the Indian economy billions a year (photo:dpa)

A range of new laws is being introduced to stop corruption and tax evasion which is costing the Indian economy billions. But it will take new policy initiatives to change the way Indians do business, reports GIS expert, Barun S. Mitra.

CORRUPTION and tax evasion are major political issues in India with senior politicians and bureaucrats in jail and others awaiting trial. Money leaving India illegally is causing major concern.

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Some have claimed that black money - earnings which are not accounted for in India’s economy - and wealth totalling from tens of billions of dollars to more than a trillion, may have been illegally acquired or...

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