Economic Institutions In India

Words: 1000
Pages: 4
Open Document
ARTICLE REVIEW ON
THE BOOK AN UNCERTAINITY GLORY- INDIA & ITS CONTRADICTIONS
FOR THE CHAPTER ACCOUNTABILITY AND CORRUPTION
COURSE- DIFFERENCE IN ECONOMIC INSTITUTION
SUBMITTED TO PROF. RAJKISHAN NAIR
BY TSHERING DOLMA GURUNG
MIB_MDM

Economic Institution are a specific agencies for both government and private , meant for studying economic data and deals with the job of supplying a good or service that is important to the economy of a country.
India is growing very fast economically thus it has become difficult to ignore the role of economic institution in shaping how people behave in Indian economy. Institutions are severely stressed and weak in India thus it is very important to come up with proper rules and regulations for economic institution, …show more content…
It is an endemic feature of Indian administration and Commercial life. In 2008 a study was conducted by Transparency International which reported that about 40% of Indians had firsthand experience of paying bribes or using a contact to get a job done in public office. This is possible because of 3 main reasons that lacks in Indian Institution. Firstly, is the lack of transparency and accessibility of information. People are not aware of many things which they should know and is there right. However, the 2005 right to Information act has made government official necessary to provide information requested by citizens, computerized the services and establish vigilance commissions. This helped to reduce corruption and opened up avenues to redress grievances. Institutionalization of social audits also helps to move towards transparency. Second issue is social leniency. It refers to tolerance of misdeeds. When the misdeeds are not fully exposed the bribe seeker are not much under pressure and they take advantage of this. So, naming and shaming is used through public campaigns and proper use of right to information act and also media and taking the perception of people regarding what is acceptable and what is not. Thirdly, is a effective prosecution which has a long room for improvement in India. The factors making it difficult is legal system, political support, lack of arrangement for protecting whistle blowers and reluctance of state authorities to allow the prosecution of government employees. Overcoming all this resistance is major challenge for
Show More

Related Documents: Economic Institutions In India

Growth Strategies Essay

success stories of these countries. Figure 1: Success Stories of Sustained High Growth [pic] Source: Commission on Growth and Development (2008). “The Growth Report: Strategies for Sustained Growth and Inclusive Development” Two other countries, India and Vietnam, may be on their way to join this successful group of 13. For most of the other developing countries, their growth spurts have been for short periods, faltered and picked up again. Many developing countries, however, have yet to jump in…

Words 3087 - Pages 13

Education in the New Powerhouse Economies: Catching Up or Leading the Way? Essays

economies – catching up or leading the way? Discuss in relation to India and/or China.” India and China: Catching Up And Leading The Way In recent years, China and India have both exploded onto the international education landscape as major global forces (Altbach 2009). China is considered one of the world’s most influential economies (OECD 2010b), whilst India is seen as playing a key role in the global knowledge economy (Agarwal 2007). India has also been described as “the science superpower of the Third…

Words 5768 - Pages 24

THE SUBMISSION Essay

CONSTRUCTION -NEW DELHI,INDIA) By: Sarthak Dangra,N0596992 REGION THE New Delhi is the capital city of India and is situated in the northern part of the country. It has a perfect blend of a rich past and vibrant present. (Ministry of Tourism, India). Besides being one of the most developed cities in India, it has a yearly footfall of 25.01 million travelers especially post the recent foundation of the new Delhi IndraGandhi International Airport. ROLE OF INFORMAL INSTITUTIONS The Paharganj area in…

Words 1123 - Pages 5

Changes In British Imperialism

related to the social institutions i.e. political, education, and economic institutions. Each of these factors played an important part for making the current situation of this generation possible. On the other hand, social mobility has moved in a random direction of ups and downs. These undirected changes are caused due to huge diversity of people among these generations. The continent of India was under the British imperialism for about 100s of years. During their rule, people in India were supposed to…

Words 710 - Pages 3

The Third Leg in the Strategy Tripod – Institutional Based View Essay

THE THIRD LEG IN THE STRATEGY TRIPOD – Institutional Based View Introduction Strategy has come to play a significant role in international business (IB) in recent times. This is predicated on the fact of complexities associated with globalisation. The interplay of various factors of production in an environment could have been sufficient for MNEs in taking investment decisions. However, experience has shown otherwise. In this light, strategising in the international business arena has been…

Words 1397 - Pages 6

Essay about SSRN Id2447576

Indian Economic Reforms for a strong and balanced Economic Governance “Regaining Growth with Employment” 1 Overview Building on fragile economic growth and regaining public trust requires greater oversight, increased innovation and comprehensive structural reform. More remains to be done to strengthen regulation in order to deal with the risks of contagion and government and other fail institutions. As forecasts of India GDP performance continue to be revised downwards, new policy initiatives and…

Words 3588 - Pages 15

Diplo Paper

definition of power, at least when analyzing international relations, is an elusive term. Although it is simple to recognize a great power such as the United States, it is much harder to determine how powerful rising countries are, such as Brazil, India, and South Africa. The question of these rising powers also bring into question the…

Words 1137 - Pages 5

Case Study on India China Infrastructure Essay

overall infrastructure sector performance for these two very different countries from the policy and institutional dimensions. It identifies factors that have worked in China and India. It also identifies some important lessons which could be relevant for future infrastructure development. For the last two decades, both India and China have grown at twice the global rate and If this trend continues for next few decades, with their vast labor supply, favorable demographics, and aspirations for reaching…

Words 3119 - Pages 13

Importance Of Micro Finance

Executive Summary In a country like India where 70 percent of its population lives in rural area and 60 percent depend on agriculture (according to the World Bank reports), micro-finance can play a vital role in providing financial services to the poor and low income individuals. Microfinance is the form of a broad range of financial services such as deposits, loans, payment services, money transfers, insurance, savings, micro-credit etc. to the poor and low income individuals. The importance of…

Words 1570 - Pages 7

Brazil and India Essay

focus on are Brazil and India. We chose these two countries as they are both exciting, emerging economies with lots of potential for growth. However, they are also very different in terms of institutional structures and the challenges that they present for multinationals trying to do business there. India, a country located in South Asia is the world seventh largest country and the second most populous country after China, with a population of over 1.2 billion people. India has both a prime minister…

Words 5540 - Pages 23