I would like to start this post by quoting a line of Mr.Prashant Agrawal of Wall Street Journal. “India’s biggest growth industry isn’t outsourcing, pharmaceuticals or auto manufacturing – I believe it’s political corruption.” How true the quote is… I am not going to talk about how it can be curbed because many people already voiced about this. I am just going to list some of the major or top Scams of 2010 India.
Year 2010 bought a series of scams and scandals that shook the nation. The magnitude is mind-boggling. According to the Indian government’s Comptroller and Auditor General, the Indian exchequer has lost anywhere between $22 billion and $45 billion in the most sizable of the three current scandals.
Here is the List. I am not going into to it, neither I am going to specify how much money is mishandled. I am just defining the scams.
1 The 2G spectrum:
The 2G spectrum licenses were illegally undercharged and sold to telecom companies at considerably low rates than the market. Later the same spectrum was sold at high prices to companies based in India and abroad.
2.Multi-crore UP food grain scam
A huge stock of food grains which was to be distributed under the ‘Antyodya Annapurna Yojana’ and mid-day meal scheme was allegedly smuggled out of the sate (Uttar Pradesh) and also out of he nation, to Nepal and Bangladesh and other nations and sold in retail market.
3. Adarsh Society Scam
In Mumbai’s Colaba area, a plot of 3800 square meters, was given to a private housing society. The land belonged to army and was given in the name of Kargil war heroes and war widows. While it was being given away to the private housing society, no army officers objected to it. This whole scam was unearthed in the year 2010 and it came to be known to us as the Adarsh Society Scam.
4 LIC Housing Society Scam
The bank officials allegedly colluded with the firm to sanction large scale corporate loans to private financial services company, overriding mandatory conditions for such approvals along with other irregularities.
5 CWG scam
The biggest sports event India has hosted ever, the Commonwealth Games 2010 were crowded among controversies as soon the date for the event started approaching. CWG was all mired up in scandals from last minute completion of the work to collapsing of the footbridge at the JNU stadium. It was stated that Suresh Kalmadi-led Organising Committee gave construction contracts to all the inefficient construction companies and made huge illegal profits.
