Word: india
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Corruption has long been the dead weight stymieing the economies of many developing nations. However, a new economic program in India, sponsored by the good-governance group, 5th Pillar, offers an innovative new way of fighting this scourge—through individual acts of resistance. 5th Pillar is creating and distributing “zero-rupee notes” to citizens across India; when asked for a bribe, individuals hand over a zero-rupee note instead. This efficient and cheap initiative has already met considerable success in fighting bribery. Further anti-corruption efforts in the developing world should emulate...
Numerous studies have found a strong correlation between high corruption and lower economic growth, as corruption creates an invisible tax on all economic activity. It hurts trade, investment, the effectiveness of government expenditure, and, critically for developing countries, the prospects of innovation. This problem is very salient in India today; the 2009 Transparency International Corruption Perceptions Index ranks India as a dismal 84th, a distressing result for the world’s second-fastest growing economy...
...with the distribution of 25,000 notes in the southern state of Tamil Nadu “met with such high demand” that 5th Pillar has now given out close to one million notes and is expanding the program from its initial starting locale in southern India...
...Read "Why India's Teachers Do Not Spare...
...pictures of India's tempestuous Nehru dynasty...