Indian Corruption takes on Galactic Proportions Quite Literally!

Corruption in India has become the most important topic for the government and its citizens.While earlier corruption scandals were swept under the carpet under the weight of India’s growth story,it is no longer so.Continuous scams and scandals have started derailing the story.Massive project delays,real estate shenanigans have resulted in a perceptible slowing of Indian growth.Infrastructure companies have started slowing down with some of the darlings even bleeding red ink from the growing problems.Combine this with inflation,inequity and rising interest rates has led to a sharp correction in the Indian stock market.While the 2G Telecom Billions of Dollars Scam is still making headlines,another major corruption scandal has come to the surface.

This time India’s Space Research Agency ISRO has come under the scanner for giving a sweetheart deal to a private company without bidding and tenders.This has resulted in another huge loss for the public treasury just like the Telecom Scam.The Space Agency comes under the direct authority of the Prime Minister and has further muddied the waters for the ruling coalition.With scam per day performance,the government is under tremendous pressure and losing its way in reforming the economy.Corruption in India is literally taking on Galactic Proportions and  showing no signs of stopping.The Devas-Antrix Deal has also foreign investors which makes scrapping the contract for giving spectrum to Devas difficult.With India’s Supreme Court breathing down its neck over prosecuting the guilty in the Telecom Scam,the government finds itself besieged.It can hardly afford opening another corruption frontier when it already finds its hands full with the existing scams.

BJP slams government on Devas-ISRO deal

he Bharatiya Janata Party (BJP) Sunday attacked the Congress-led central government for the deal by the TIndian space agency giving S-band spectrum to a private company without competitive bidding. “I want to ask the prime minister, how do you run the government if you did not know (regarding the deal),” BJP national secretary Ravi Shankar Prasad said ere.
The government has denied that the nation suffered revenue losses in the allocation of space spectrum using S-band – high value and scarce radio waves – in the deal between the Indian Space Organisation’s commercial arm Antrix and private company Devas. “This is a scam and no competitive bidding was held before granting the band to Devas Multimedia in 2005,” Prasad added.