Corruption has become the word of the year for Indians in 2010 as the country witnessed a series of huge scams that made headlines nearly throughout the year. It is the time of the year when pundits look for a theme that unites the year and, as far as India is concerned, 2010 was, more than anything else, a year of scams.The previous year, 2009, was overshadowed by the elections and 2008 by the terror attacks in Mumbai.But this year, which will end in two weeks, has been marked by disclosures of corruption in, among other things, the organizing of the Common wealth Games; the allotment in Mumbai of flats in an apartment building meant for war heroes and war widows to politicians and senior defence officers
There have been other scams indeed, Mint’s political bureau insists there is or has been one in every state in the country and a large one for almost every month of the year as well, ensuring that newspapers, magazines, and television channels were never at a loss for a amazing subject through the year. Ironically, one of these, linking indirectly to the allotment of telecom licences, came back to bite the media late in the year, when it was revealed that several worthies from the profession had been indiscreet at best and dishonest at worst in conversations with a powerful lobbyist. There used to be a time when frauds related to companies, banks and stock markets used to come to light in April, May or June, the first quarter of the financial year for most Indian companies.
The assumption was that any financial sleight of hand in the previous year was bound to show up when the numbers were being checked before the results were announced.There is no clear reason why 2010 turned out the way it was, although there is a cynical point of view that things have always been the same. It is only that judicial and media activism and an internecine political battle between two parties have served to emphasize these scams, goes this hypothesis. Mint’s Capital Calculus column has a more possible theory and also believes that this year could mark the beginning of the change everyone wants to see. That may well be the case.
There have been other scams indeed, Mint’s political bureau insists there is or has been one in every state in the country and a large one for almost every month of the year as well, ensuring that newspapers, magazines, and television channels were never at a loss for a amazing subject through the year. Ironically, one of these, linking indirectly to the allotment of telecom licences, came back to bite the media late in the year, when it was revealed that several worthies from the profession had been indiscreet at best and dishonest at worst in conversations with a powerful lobbyist. There used to be a time when frauds related to companies, banks and stock markets used to come to light in April, May or June, the first quarter of the financial year for most Indian companies.
The assumption was that any financial sleight of hand in the previous year was bound to show up when the numbers were being checked before the results were announced.There is no clear reason why 2010 turned out the way it was, although there is a cynical point of view that things have always been the same. It is only that judicial and media activism and an internecine political battle between two parties have served to emphasize these scams, goes this hypothesis. Mint’s Capital Calculus column has a more possible theory and also believes that this year could mark the beginning of the change everyone wants to see. That may well be the case.
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