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2012: Scams and the battered conscience of India

28 December, 2012

As Year 2012 draws to a close, the overwhelming sentiment of a majority of citizens seems to be that of good riddance to a year of scams. In 2012, the nation’s notional loss in about 43 reported scams is well above Rs. 6.8 lakh crore. The 2G scam of Rs. 1.76 lakh crore seems to have been dwarfed in 2012 with Coalgate and the Karnataka Wakf Board scam, each having notional losses of Rs 2 lakh crore or above. The Rs 2 lakh crore Antrix-Devas scam which broke out in 2011 also saw some curious twists and turns this year, with ISRO chairman Madhavan Nair quitting from the post. Despite a clamour against policy paralysis which is hampering reforms, investors still remained slightly bullish about India. But the alarming occurrence of graft has definitely dented investor sentiment.

VCCircle takes a look at how investors around the world are viewing India’s scams via internet.


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2012: Scams and the battered conscience of India

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