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Top 10 Corruption Scams that put India to Shame

India is famous all over the globe because it is the world’s largest democracy and has a major role in impacting the status of world economy. In fact, it is a country that is known for its rich culture, glorious past when it fought against foreign forces to reclaim independence and also because it is the only nation which has an ocean named after it, that is, the Indian Ocean. But, according to innumerable surveys in the past as well as this year, it has been proven time and again that India is one of the most corrupt nations too. Read ahead to know more about the top 10 corruption scams that put India to shame.

1.   Indian Coal Allocation Scam (2012): 

You may have heard about this scam already. This happened when Congress was the ruling party in the India subcontinent and the nation was headed by the then Prime Minister Manmohan Singh. 
It was truly the era of scams and corruption. In this instance, the government officials were found to be corrupt in allocating coal blocks amongst the public and private sector companies.

2.   2G Spectrum Scam (2008): 

 This can easily be called one of the worst and biggest scams that every happened in India. 
In fact, though it happened so many years back, the court still has cases pending with regard to this scam. Telecommunication companies and the then telecommunication minister A. Raja were found to be guilty because reportedly, he had carried out the 2G license awards at extremely cheap rates like that of 2001. 
CBI seems to have worked hard under the ruling party against the opposition one, yet Supreme Court did not regard it as scam.

3.   Wakf Board Land Scam (2012):

 India is primarily an agricultural country. The southern part of the country is very rich in a number of elements which also includes land. 
If reports are to be believed, then 27,000 acres of land, controlled by the Wakf Board in Karnataka has been illegally allocated. The Wakf Board is a Muslim charitable trust.CAg's responsibility is sought more by the people.

4.   Commonwealth Games Scam (2010): 

It was a proud moment when the nation was given the opportunity to arrange the Commonwealth Games in Delhi in the year 2010. However, the nation’s head hung in shame when the news of a number of controversies related to the games made the headlines. 
It is believed that though the budget was claimed to be 70,000 crores INR, only half of it was actually used and the rest was just over-inflated statements.

5.   Telgi Scam (2002):

 I am sure that you must have heard of fake currencies. But, this is a case when fake stamps were printed and sold to banks. The amount involved is nothing less than a whopping sum of INR 20,000 crores.

6.   Satyam Scam (2009): 

Though Tech Mahindra later took over this dying company and strategically recovered its reputation, it must be noted that the former chairman of the company had forged the accounts and shown inflated revenue as well as profits. 

7.   Bofors Scam (1980s and 1990s): 

In this scam, the then Prime Minister Rajiv Gandhi and other officials were accused of receiving kickbacks from Bofors AB. This was apparently done due to the winning of a bid to provide the nation’s 155 mm field howitzer.

8.   The Fodder Scam (1990s): 

In this scam, fictitious livestock had received fodder, medicines and animal husbandry equipment.

9.   The Hawala Scandal (1990-1991): 

The then leader of the opposition and several others were accused of receiving bribes through the hawala brokers.

10.  Harshad Mehta and Ketan Parekh Stock Market Scam (1992): 

Last but not the least, this is not exactly a scam but had affected the lives of innumerable investors for the worse.

See also:

Ponzi Scam

Tags: Scam, Top Scam, Big Scam, Biggest Scam

 NB: Review based on Overall Media Information

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