TOP TEN SCAMS IN INDIA WHICH HAVE CAUSED A BILLION DOLLAR LOSS TO THE ECONOMY

In today’s independent India we come across many news related to some of the political scams.Which cost a massive loss to the economy year by year.

HERE ARE THE TOP 10 SCAMS:-

1.JEEP SCANDAL SCAM

The jeep scandal in 1948 was first major corruption case in independent India.[1] V.K. Krishna Menon, the then Indian high commissioner to Britain, ignored protocols and signed an Rs 80 lakh contract for the purchase of army jeeps with a foreign firm.

2.TEJA LOAN SCAM

Shipping magnate JAYANT DHARMA TEJA, Took loans worth RS.22 crore to establish the JAYANT shipping company.In 1960, the authorities discovered that he was actually siphoning off money to his own account, after which Teja fled the country.

3.BOFORS SCANDAL

The Bofors scandal was a major political scandal that occurred between India and Sweden during the 1980s and 1990s, initiated by Indian National Congress (Congress party) politicians and implicating the Indian prime minister, Rajiv Gandhi, and several other members of the Indian and Swedish governments who were accused of receiving kickbacks from Bofors AB, a bank principally financed by the Wallenberg family’s Skandinaviska Enskilda Banken,[1] for winning a bid to supply India’s 155 mm field howitzer.[2] The scandal relates to illegal kickbacks paid in a US$1.4 billion deal between the Swedish arms manufacturer Bofors with the government of India for the sale of 410 field howitzer guns, and a supply contract almost twice that amount.

4.AIRBUS SCANDAL

The Airbus affair refers to allegations of secret commissions paid to members of the Government of Canada during the term of Prime Minister Brian Mulroney (1984–93), in exchange for then-crown corporation Air Canada’s purchase of a large number of Airbus jets. The Chairman of Airbus (a European consortium) at the time of the contract competition was Franz Josef Strauss (1915–1988), a high-profile German politician in Bavaria.

5.SUGAR IMPORT SCAM

Over the past two weeks, the sugar saga has received fresh attention. The reason: leaks from Prime Minister P.V. Narasimha Rao’s close circles that he has expressly forbidden the release of the report on the affair by the Gian Prakash Committee – a one-man inquiry chaired by the former Comptroller and Auditor General of India.

6.FODDER SCAM

The Fodder Scam was a corruption scandal that involved the embezzlement of about ₹9.4 billion (equivalent to ₹34 billion or US$530 million in 2017) from the government treasury of the eastern Indian state of Bihar.[1] Among those implicated in the theft and arrested were then Chief Minister of Bihar, Lalu Prasad Yadav, as well as former Chief Minister, Jagannath Mishra.[2][3] The scandal led to the end of Lalu’s reign as Chief Minister.[4] There is also allegation on Dr. Dineshwar Prasad Sharma of receiving 300 crores and 60 lakh Rupees respectively from S. N. Sinha. On 23rd December 2017, Lalu Prasad Yadav was convicted by a special CBI court while Jagannath Misra was acquitted.

7.COAL SCAM

Coal allocation scam also knows as Coalgate scam is a political scandal concerning the Indian government’s allocation of the nation’s coal deposits to public sector entities (PSEs) and private companies. There was the wrongful allocation of coal deposits among government employees without competitive bidding.

8.SATYAM COMPUTERS SCAM

India’s one of the biggest corporate scandal affecting India-based company Satyam Computer Services in 2009 in which Satyam Company’s chairman Ramalinga Raju confessed that he manipulated accounts to show increased sales, profits and margins from 2003 to 2008. CBI took over the investigation and filed three partial charge sheets over the course of the year. It later merged those three partial charge sheets into a single charge sheet. On April 9, 2015, B. Ramalinga Raju, along with 9 others were pronounced guilty in the Satyam Scam.

9.2g spectrum scam

It was a telecommunications scam and political scandal in which politicians and government officials under undercharged mobile telephone companies for frequency allocation licenses. According to CAG, former Telecom Minister A Raja has evaded norms and carried out the dubious 2G license awards in 2008.

10.COMMONWEALTH GAMES.

Squadron Leader Suresh Kalmadi (born 1 May 1944) is an Indian politician and senior sports administrator.[1][2] He was formerly a member of the Indian National Congress. He was a member of parliament from Pune till May 2014.[3] He is alleged to have been involved in corrupt practices in relation to the 2010 Commonwealth Games during his tenure as president of Indian Olympic Association and chairman of Common Wealth Games 2010. He was charged with conspiracy, forgery, misconduct and under provisions of the Prevention of Corruption Act and later arrested for the same in April 2014, but as has yet not faced trial.[4] In Dec 2016, the Indian Olympic Association(IOA) named Suresh Kalmadi as its lifetime patron. However, he was forced to decline the post because of his corrupt practices.

CONCLUSION

SCAM COLLECTION OVERALL- ₹ 8,031,005,000,000 THROUGH THIS AMOUNT INDIA COULD  HAVE BECOME THE  SUPERPOWER TILL NOW BUT INDIA COUDN’T ABLE TO MAKE IT THROUGH.

IF WE HAVE THAT MUCH MONEY NOW WE CAN,

1.END POVERTY AND UNEMPLOYMENT.

2.NOT PAY TAXES FOR THE NEXT 20 YEARS.

3.PETROL AND DIESEL WILL BE DAMM CHEAP.

4.1500 UNIVERSITIES CAN BE BUILT.

5.2000 HOSPITALS CAN BE BUILT ALONG WITH FREE MEDICINE FACILITIES.

WAKE UP YOUNGSTERS AND WAKE UP THE SOCIETY.

Responses

Your email address will not be published.

+