Google

Wednesday, August 20, 2008

Less corruption, higher GDP


India can add $20 trillion to its GDP if it becomes less corrupt, Prof
C.K. Prahalad, Paul and Ruth McCracken Distinguished Professor at the
University of Michigan, said here on Tuesday. Speaking at a seminar
organised by the Indian Chamber of Commerce on “India @ 75: The
Emerging Agenda”, Prof Prahalad said: “If India could graduate from
the current 125th position on the global list of most corrupt nations
to the position of the US, it will add $20 trill ion to its GDP.”
Graduating to the 12th or 13th position will help India achieve this
feat, he said, adding, “It is not even necessary to reach the position
of Finland or Denmark who top the list. We have to believe in a
different India and take corruption as an act of terrorism. Two
million people dying of hunger in India is as much a terrorist act as
100 people dying in a bomb blast.” Pointing out India’s strength in a
global economy, Prof Prahalad said, “India is known for its human
resources with 200 million college graduates and 500 million trained
workforce.” No corrupt country develops its human resources and
therefore ends up accumulating wealth only in selected pockets and
does not achieve inclusive growth, he pointed out.

Source: Business line

No comments:

Sify.com - News

NDTV - Business News

Moneycontrol - Buzzing Stocks

Moneycontrol Top Headlines

News Flash from IndiaEarnings

Saraswat Bk seeks RBI nod to acquire ailing South Ind Co Bk
Telekom Malaysia to pick up addl 15% stake in Idea: Srcs
Hind Rectifiers brd meet on June 24 to consider bonus issue
Inflation will touch double digit mark next week: I-Sec
NY Times in talks to buy 5% stake in Deccan Chron Arm
Inflation for wk ended Apr5 revised to 7.71% vs 7.14%earlier
Inflation for week ended May 31 at 8.75% vs 8.24%
Indian economy won't be as badly hit as the global eco:DCB
Over a period of time mkt may drift down to 4060 :Atul Suri
Shriram Cap likely seller in Shriram City Un Fin block deal
Shriram City Union Fin changes 12.2% Eq via block deal
No big rally in mkt till oil pices cool off: Lehman Bros
BoJ keeps key interest rate unchanged at 0.5%
J&K Bank raises Prime Lending Rates by 100 bps to 14%
L&T aays plan to list IT sdubsidiary in FY09
IFCI okays initiation of legal process to align LIC stk
Rupee opens at 42.82/USD vs 42.84/USD on Thursday
Karnataka Bank board approves 1:5 rights issue at Rs 100/sh
45.37 lakh Suzlon shr change hands on BSE at Rs 250.95/sh
Oil India plans to launch IPO by Sep: NW18
ABG Shipyard bags order worth Rs 127 Cr
Nutrient base pricing is good for industry:RCF
FM says avg prc of complex fert to decline by Rs 1416/t
Deccan Chronicle likely to place Sieger Eq at EV of USD750 m
BNP Paribas see 25 bps CRR hike before RBI July policy
Disclaimer