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