Ending the leakage raj

Just as economic reforms 20 years ago liberated India from the licence raj, governance reforms now underway promise to liberate the country from the leakage raj. Deputy chairman of the Planning Commission Montek Singh Ahluwalia recently pointed out that corruption has a direct effect on the economy: it dries up domestic and foreign investment, hits social sector projects (food security, education, healthcare) which most affect the poor, and shaves up to 2% off annual GDP growth.

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